Is this the dApp of the year?
If someone wants to do a deeper dive, I would wait for them to publish their website and docs. But here's what I found.
CWAP uses Coinweb's technology and PACT for secure, low-cost cross-chain transactions.
The anons using CWAP Users: Connect with wallets, select pairs, and perform swaps, benefiting from CWAP’s security and cost efficiency.
Participants: Earn incentives by providing collateral via $CWEB on L2 or liquidity on L1. Fees from the dApp are shared with these participants.
How Coinweb Enhances CWAP Elimination of Traditional Consensus: Coinweb removes the need for traditional voting, using data from blockchains under consensus.
Cross-Chain Functionality: Coinweb monitors all connected chains' activities, ensuring consistency and robustness against L1 reorgs.
Verification Process: Coinweb ensures secure swaps by using deterministic data from blockchains and collateral worth more than the trade amount.
PACT: Ensuring Security and Efficiency PA - Penalty Adjudicator: Collects data from CTs (Chain Transaction Sentinels) and evaluates PACT terms, releasing collateral if discrepancies arise.
CTs - Chain Transaction Sentinels: Monitor blockchain state transitions, adjusting to reorganizations and reporting the true state to the PA.
Market Incentives and Settlement CWAP uses an order book model for direct BTC to ETH trades. For less liquid pairs, intermediary L2 tokens like $CWEB ensure efficient settlement. Show Less
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