Hassan Maishera
HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Tuesday that it will assist in the launch of HeliSwap on the Hedera Network. HeliSwap is a decentralized exchange (DEX) backed by MANTRA DAO and LimeChain.
The foundation added that HeliSwap is the first DEX to support Ethereums ERC-20 token standard on Hedera, enabling participants in the Hedera ecosystem to swap between HTS (Hedera Token Service) and ERC-20 tokens in a cost-efficient and sustainable environment. Furthermore, the launch of HeliSwap on Hedera will help attract more users and accounts to the network, increase TVL, and increase smart-contract transactions on the mainnet, the team added.
Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance.
HBAR is trading at $0.0648 at press time, down by more than 5% over the last 24 hours.
