Next generation DeFi
Imagine a decentralized order-book exchange built exclusively using smart contracts that directly serve a web experience like those of centralized exchanges, that incorporates the world's digital assets without need for insecure bridges.
2022 revealed the serious risks of trading and holding tokens on centralized exchanges. Even decentralized exchanges with frontends hosted on centralized cloud providers are not safe from hacks or rug pulls. Thanks to the web-serving capability of canister smart contracts on the Internet Computer, and their ability to host large amounts of data, DeFi platforms can exist 100% on the blockchain with no dependency on centralized components.
Native BTC DeFi
Via chain-key signatures, the Internet Computer is capable of signing native transactions on other blockchains without using bridges. Today, you can already swap BTC with ICP without ever having to use insecure wrapped tokens. In the near future, this could extent to ETH or even Dogecoin.
Bringing ERC-20 tokens to ICP
Building on chain-key signatures and HTTPS outcalls, DEXs are currently working on solutions to support a plethora of ERC-20 tokens on ICP. Plugging into Ethereum RPC API providers, ICP smart contracts will sign transactions for any ERC-20 token without relying on insecure bridges. Plans to integrate the Internet Computer with Ethereum network at a protocol level are also underway.
Imagine being able to pay for a takeaway coffee with BTC or sending satoshis to friends on your favorite Web3 chat app. Chain-key tokens, a cryptographically secure replacement to wrapped tokens, allow end-users to seamlessly transfer tokens between blockchains with speed without relying on third-party bridges or custodians. Chain-key bitcoin (ckBTC) is the first chain-key token on ICP, pioneering the way. Trade BTC on ICP DEXs, use BTC for fundraising and much more.
SNS is a powerful tool that allows developers to assign control of their dapp to a DAO whose governance token holders become part owners and contributors of the dapp. Once a dapp has tokenized, DEXs can easily support its governance token as SNS follows the ICRC-1 standard.
EVM on the Internet Computer
The Bitfinity EVM allows developers to run Solidity smart-contracts at web-speed, directly on the Internet Computer.Check out Bitfinity EVM
The speed of the Internet Computer alone enables DeFi applications that are simply impossible to build anywhere else without compromising on decentralization or costs.
What’s already being built
Fully on-chain order book DEX
ICDex provides the world’s first fully on-chain order book DEX. Create limit orders or swap tokens instantly with complete transparency and decentralization - 100% on-chain.Check out ICDex
First-ever bridgeless lending protocol
Finterest is a truly decentralized borrowing protocol running on the Internet Computer built to support native Bitcoin borrowing and lending.Check out Finterest
Swap any ICP based token
ICP.Swap offers the largest number of tokens on the Internet Computer. Trade the latest meme coins or the most successful SNS DAO governance tokens.Check out ICP.Swap
Build the future of DeFi
The Internet Computer offers a plethora of out-of-the-box features you can use in your DeFi application.