Bitcoin DeFi protocol Tap Protocol announced the launch of Taparooswap, the first decentralized exchange (DEX), automated market maker (AMM), and swap platform natively built on Bitcoin L1.
Taparooswap aims to bring DeFi functionality directly to the Bitcoin blockchain, providing an experience similar to Uniswap, but specifically tailored for the Bitcoin blockchain.
Taparooswap will launch a two-week Beta test on the Bitcoin mainnet on October 31, during which early users will be able to experience Bitcoin’s native DeFi functions firsthand.
Bennythedev, CEO of Tap Protocol, said: "Bitcoin has become the most secure and reliable blockchain, and Taparooswap is an important step in enhancing its DeFi competitiveness. During the testing phase, users can initially experience how Taparooswap can achieve seamless and secure swaps. We will also polish the functions and improve the user experience during the test to prepare for the full release."
Taparooswap Main Features
- Bitcoin native DEX function: Taparooswap supports fully decentralized transactions, and users can trade Bitcoin native tokens directly on the Bitcoin L1 layer without relying on intermediaries.
- AMM technology: Like the top DEX, Taparooswap uses AMM technology to maintain liquidity and promote efficient transactions, introducing Bitcoin into a modern decentralized trading environment.
- Convenient Swap experience: Taparooswap is designed with user ease of use in mind, simplifying the trading process. Both novice and experienced traders can easily get started, and its ease of use is no less than Uniswap.
- Secure and innovative Bitcoin integration: Taparooswap leverages the strong security of Bitcoin and combines it with Tap Protocol’s proprietary account abstraction and permission management technology to create a flexible and user-centric trading environment.
Taparooswap is a milestone for Bitcoin DeFi
By introducing true DEX, AMM, and Swap functionality, Taparooswap fills a long-standing gap in the Bitcoin ecosystem. BTC holders will be able to participate in DiFi without leaving the secure, proven blockchain environment of Bitcoin. The Taparooswap mainnet test lasts for two weeks, allowing users to test features and provide feedback to help Tap Protocol launch a more complete product when Taparooswap is fully released.
Tap Protocol is committed to expanding the role of Bitcoin in the DeFi field, developing native solutions, and enhancing the utility of Bitcoin while adhering to its core values of security and decentralization. Tap Protocol's mission is to create a comprehensive ecosystem that makes Bitcoin not only safe and reliable, but also versatile, redefining the possibilities of the Bitcoin blockchain.
Through innovations such as Taparooswap, Tap Protocol is opening up new possibilities on Bitcoin L1, bringing DeFi features that were previously only available on other blockchains directly into the Bitcoin ecosystem. In addition, the Tap Token (TAP) is a key component of this ecosystem, supporting bridging, staking, and reward mechanisms to provide a complete user experience.
