Orbit Chain(ORC) New partnership with Ubeswap

Partner's Name

Ubeswap

Counterparty Website

https://ubeswap.org/

Counterparty Details

Ubeswap is a decentralized exchange and automated market maker protocol for Celo assets. At its basis, Ubeswap enables Celo users and applications to transfer between any two tokens based on the Celo Blockchain. Ubeswap was launched in February 2021 and quickly grew to over $35 million in total value locked(TVL). As a liquidity hub for the Celo ecosystem, Ubeswap allows users to invest in various crypto assets and earn additional profits through yield farming.

Does this partnership generate any kind of revenue?

NO

Applicable Date(s)

2022-02-09

Partnership Details

Ubeswap is the mobile-first DeFi exchange that has offered easier access to finance for anyone with a mobile phone. Due to its nature of mobile-native platform with active community engagement, Ubeswap protocol has about 42,000 users, more than $600 million total value transacted, and is averaging more than 450,000 swaps/month to close out 2021.

Together with Ubeswap, the CELO — KSP liquidity pool will bring fruitful ecosystem circulation between these cross chains. A new CELO — KSP pair liquidity pool was created on Ubeswap on Feb 10, 2022. Their mission is to bring awareness of the Klaytn cross-chain network to the Celo ecosystem and their variety of decentralized protocols through KSP, which is the native token of KLAYswap, the biggest DEX in Klaytn.

Through this partnership, Orbit Bridge takes one step closer to our vision of cross-chain ecosystem expansion on a greater scale. With our safe and standardized interoperability Orbit Bridge technology, we have successfully established numerous partnerships with different protocols for the past several years. And we will continuously collaborate with various protocols to become the backbone of the DeFi bridge across chains to enhance ever-growing ecosystems where the DeFi protocols can expand the market.

The Orbit team expects to bring a massive liquidity environment for Ubeswap decentralized financial ecosystem by supporting interoperability. We are looking to create an interoperable network that will make trustworthy environments with reliable partners. The coming technical developments will be successful and bring ultimate benefit to both protocols.

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