Bitmatrix Releases Mainnet Beta Bringing Uniswap Functionality to Liquid
Bitmatrix, an automated market maker (AMM) protocol, has released its mainnet beta which will enable bitcoiners to create their own liquidity pools and perform trust minimized swaps on the Liquid Network.
Users looking to create their own liquidity pools need only connect the Bitmatrix web interface to their Marina Wallet, select the desired pairs, provide an initial amount, and click trade.
AMMs provide the utility of performing asset swaps, in this case with Liquid assets, as well as allowing users to connect and pool resources without the assistance of centralized entities.
"After rigorous testing, we're confident we've found the most optimal design for bringing AMMs to Liquid and the Bitcoin ecosystem," said Burak Keceli, founder at Bitmatrix. "We hope Bitmatrix enables some new meaningful use cases and brings more user adoption."
For those familiar with the ethereum ecosystem, Bitmatrix is essentially replicating Uniswap functionality on Liquid.