Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Hands on with cross-chain Swap!

On May 7, O3 Swap, a cross-chain aggregation protocol, announced on Twitter that it has received an investment from SoftBank Singapore. Previously, O3 Swap had already closed $2 million in funding. It is reported that O3 Swap is a cross-chain aggregation transaction protocol incubated by the O3 Labs team, and the current early version of the test has supported cross-chain swap for four public chains, namely Ether, BSC, Heco and Neo.

With the rise of Solana, Fantom, Matic and other DeFi ecologies, plus ETH, BSC, Heco, etc., there are too many public chains for asset switching to be busy. Cross-chain aggregation transaction protocol is a very practical direction.

What exactly can cross-chain aggregation transaction protocols do? For example, on O3 Swap, we can exchange BNB on BSC to HUSD on Heco with one click, and the final result is that BNB is deducted from the Little Fox wallet address on the BSC chain, and the exchanged HUSD hits the Little Fox wallet address on the Heco chain, thus completing cross-chain transactions.

According to the official news, O3 Swap is still undergoing testing activities, as of May 11, 7:59 am BST, those who participate in the Swap’s transaction experience all have the opportunity to activity O3 Swap Token rewards. Let’s get down to business and experience O3 Swap’s cross-chain transactions.

First, we will open the O3 Swap link https://o3swap.com/swap.

Next, click Connect Wallet in the top right corner to connect your wallet.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

The vertical column on the left is the four public chains that O3 Swap currently supports cross-chain transactions, from top to bottom are Ether, BSC, Heco and Neo. I used Little Fox and linked to Ether, BSC and Heco without any problem.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Once the connection is made, we can see three icons appear in the upper right corner.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Next, we are ready to make cross-chain transactions. Considering the cost, we choose to convert BNB on BSC to HUSD on Heco, after all, ethereum’s gas fee is too expensive. At this time, don’t forget to switch your little fox wallet to BSC chain as well. Note that during the testing phase, the value of each transaction needs to be less than $20.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Below you can do swap. Enter the asset to be exchanged, for example, the author is BNB.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

I want to convert to HUSD, so I choose HUSD on the Heco chain.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Click RFQ when finished

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

At this point, we can see the entire routing information of the exchange. bnb is first exchanged to WBNB on BSC, then to BUSD, and finally to HUSD across the chain. the address that accepts HUSD is the wallet address we bound in the first step.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Click on Confirm and you will be able to redeem. Then you can see the entire redemption.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

It takes about 1-2 minutes for the exchange to complete.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Great job! Overall, it’s a good experience to use the one-click swap.

Many of you may be interested in the whole process of cross-chain swap. The following diagram is an official example of exchanging BNB for HUSD. bNB is exchanged for BUSD on Pancakeswap and then exchanged for HUSD via cross-chain swap. after the above process, it should be clearer to look at this diagram again.

Hands on with the cross-chain aggregation protocol O3 Swap, jacking airdrops together!

Many of you may ask how cross-chain trading of stable coins is achieved. The answer is through O3 Hub, a cross-chain asset trading pool based on the Poly Network cross-chain protocol. We can pledge various stable coins (USDT, USDC, HUSD, BUSD) from various chains into it, which is equivalent to a cross-chain version of Curve.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/hands-on-with-the-cross-chain-aggregation-protocol-o3-swap-jacking-airdrops-together/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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