Why We Created SafeSwap: Revolutionizing Cross-Chain Tokenization

In a market filled with bridges and swap solutions, you might be curious as to why we embarked on creating SafeSwap, our own cross-chain tokenization platform.

With numerous options already available, what sets SafeSwap apart?

Well, the answer is quite simple.

Let’s take a look.

The Limitations of Wrapped Tokens

As with all of our products, our goal with SafeSwap was to tackle the limitations of existing solutions, in this case particularly in relation to wrapped tokens.

As we faced the challenge of expanding Inheriti® across different blockchain networks, we aimed to develop a solution that mitigates the risks associated with wrapped tokens.

But why?

While wrapped tokens may initially seem appealing, they introduce vulnerabilities such as hacks, unauthorized trading and manipulated token supply.

Common Vulnerabilities of Wrapped Tokens

Trusted Custodians: Wrapped tokens rely on trusted custodians who hold and manage the underlying assets. If the custodian becomes compromised or acts maliciously, it can lead to loss or manipulation of the wrapped tokens.

Centralization: The custodial nature of wrapped tokens introduces centralization, as users must trust the custodian to properly manage the underlying assets and issue/redeem the wrapped tokens. This contradicts the decentralized nature of blockchain technology.

Counterparty Risk: Wrapped tokens involve counterparty risk, as users rely on the custodian to fulfill their obligations. If the custodian defaults or faces financial difficulties, it can affect the value and availability of the wrapped tokens.

Smart Contract Vulnerabilities: The smart contracts used for wrapping and unwrapping tokens can contain coding bugs or vulnerabilities. Exploiting these vulnerabilities can lead to issues such as loss of funds or unauthorized access to wrapped tokens.

Lack of Transparency: In some cases, the custodian’s operations and the management of underlying assets may lack transparency. Token holders may not have full visibility into the custodian’s actions, making it harder to verify the legitimacy and security of the wrapped tokens.

These risks can undermine the trust and integrity of the underlying assets, making them less desirable for projects seeking secure cross-chain tokenization.

So where’s the difference?

The Difference: Atomic Swaps vs Native Tokens

SafeSwap revolutionizes cross-chain tokenization by employing atomic swaps and native tokens exclusively, without relying on wrapped tokens.

This unique approach sets SafeSwap apart from other solutions in the market.

Unlike other platforms, SafeSwap enables users to confidently hold true native tokens. This means that you have full ownership and control over your assets, without simply holding an “empty box” that represents an underlying asset.

With SafeSwap, you can be sure that you possess the genuine tokens, providing peace of mind and eliminating the risks associated with wrapped tokens.

Unlocking Possibilities for Builders and Projects

SafeSwap opens up new possibilities for builders and projects in the crypto space.

It allows for seamless expansion across different blockchains while minimizing risks and maintaining control over tokenomics.

By leveraging SafeSwap, builders can create cross-chain applications with improved security and efficiency, empowering them to reach larger audiences and unlock the full potential of their projects.

By utilizing SafeSwap instead of wrapped tokens, builders gain greater flexibility in expanding their projects.

They can navigate the complexities of multiple blockchains with increased security and reduced vulnerabilities.

This approach ensures that projects maintain their integrity, security and accessibility while embracing the benefits of cross-chain interoperability.

Embrace SafeSwap for Long-Term Success

SafeSwap provides a secure and efficient solution for cross-chain tokenization, free from the limitations and risks associated with wrapped tokens.

Builders can confidently embrace SafeSwap to unlock long-term success by reaching broader audiences, enhancing versatility and expanding their projects across multiple blockchains.

Are you a builder or project owner?

Are you a project owner and do you want your digital asset listed on SafeSwap to make use of our atomic swap protocol and cross-chain bridge?

Let’s talk! Click here to apply for a listing »

Are you a user?

Earn commissions easily by referring blockchain projects that are considering cross-chain integration for their native token.

Click here to learn more about our SafeSwap Commission Program »

SafeSwap represents a groundbreaking approach to cross-chain tokenization. By utilizing atomic swaps and native tokens, SafeSwap offers a more secure and reliable alternative to wrapped tokens. Builders can leverage SafeSwap to create cross-chain applications, minimizing risks and maintaining control over their projects’ tokenomics. With SafeSwap, the world of multiple blockchains becomes a realm of opportunity, providing enhanced security, increased flexibility and unlocking long-term success.

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