Theta Network Joins the DEX Race with Launch of ThetaSwap

Bob Coiney

February 6, 2021

Theta Network is the latest to join the DEX race with the launch of their own exchange, ThetaSwap. The video designers can make and then list their own tokens. 

A news post on beincrypto said that Theta Network had joined the DEX race with the launch of ThetaSwap. It is now among many making its print into the DEX market. The decentralized video-focused firm has designed its own exchange, ThetaSwap.

ThetaSwap is designed on Theta blockchain with the help of an open-source smart contract system based on the automated market maker logic. It is similar to Uniswap. MAXBIT.CC is a bitcoin investor and market analyst who tweeted on Theta Network coming up with ThetaSwap.

The exchange is powered with a new TNT20 token for users to capitalize on the new tokens found on the Theta blockchain. The DEX market is already becoming quite overcrowded with the launch of several exchanges. 

In the year 2017, each of the projects involving blockchain came with its own token. Today, in 2021, each blockchain project needs its own DEX. Using the video delivery platform, users can now design and mint their own tokens for trading using the new DEX.

Some of the salient features include streamers issuing loyalty tokens, the tokens can be issued to pools, and DAOs to fund entertainment. The exchange also predicts in 2021; there can be a massive launch for new media and entertainment.

Since there is no mention of liquidity farming incentives, analysts feel that the exchange will help create and trade TNT20 tokens. Theta Mainnet 3.0 may be launched in the Q2 in 2021 and then introduce TFUEL staking and burning.

According to CoinGecko, the native THETA token has surged close to 16% today to top at an intraday high of $2.47. THETA token is more than 30% at the start of this week. However, a token has been moving slowly sideways since last year in the month of December, when it managed to go to an all-time high of $2.60.

Today, one can find a billion THETA tokens that are in circulation, and the market cap is more than $2 billion. It makes THETA at the 24th position on the market cap list, below Tezos.