Written by Marshall Hayner

On May 27, 2022

Introducing OTC trades for Proton Swap

As we march towards building the ultimate blockchain for payments and banking with Proton, we look at new standards like ISO20022 and Web Authentication. In doing so, we create the fundamental tools and smart contracts for the end consumer and business to harness. The features that Proton offers are great: instant payments, no gas fees, decentralized identity, fiat on and off-ramps (without restrictive limits and fees), TypeScript, bank payment messaging, and fast settlement. However, they are nothing without superb tools!

Introducing the Proton Swap OTC tool for p2p block trades. Utilizing the swap tool you can safely conduct any OTC block trade for XPR, XUSDC, XBTC, XETH, and other xTokens as well as NFTs. Paired with the new fiat on-ramp (card payments and off-ramp coming) through a partnership with Circle, you can quickly and easily trade any amount of stablecoin or crypto.

For the NFT community, we have introduced the functionality to p2p trade trustless with any counterparty. As NFTs grow within the Proton ecosystem, this valuable tool can enable not only trades for artistic works but:

  • Metaverse items
  • Virtual real estate and lands
  • Claims to real-world assets
  • Concert tickets
  • Digital content
  • Membership
  • And more

When we look at past failures in NFT drops, mints, and land sales, we can directly attribute this to issues with blockchain scalability, extreme gas fees, lack of trustworthy fiat on-ramps, and decentralized identity for whitelisting. With the introduction of the Proton OTC tool on Proton Swap, utilizing the Proton blockchain, we can scale Web3 together. Let us know what you think on Twitter, Reddit, Facebook, and our other social channels!

 

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