Los Angeles, USA, June 26th, 2023, Chainwire
Deso is thrilled to announce they have joined forces with the leading Sui Wallet, Ethos, to integrate HeroSwap, the instant anonymous cross-chain swapping service for crypto. This collaboration elevates the user experience on Sui by providing developers, traders, and creators with an easy and efficient way to onboard into the Sui blockchain while driving more liquidity into the ecosystem.
Now, Sui users can swap assets between Bitcoin, Ethereum, DeSo, Solana, and more while using Ethos. This is a pivotal moment in crypto, paving the way for seamless crypto swapping across all major blockchains while allowing users to remain anonymous and maintain full self-custody of their coins.
Recently, Ethos secured seed funding of $4.2 million, with contributions from notable VC firms like Boldstart Ventures and gumi Cryptos Capital (gCC) and participation from Mysten Labs. Ethos was founded with a vision to transform the crypto wallet-to-wallet experience by co-founders Nadia Eldeib (CEO) and Jared Cosulich (CTO). Ethos aims to deliver a user-friendly and secure wallet for storing crypto and discovering new apps, games, and NFTs in the SUI ecosystem.
Despite the immense potential of layer-1 blockchains, liquidity fragmentation and isolation have posed significant challenges for developers and everyday users, restricting cross-chain marketplace exposure and liquidity onboarding. Ethos co-founder Nadia Eldeib recognizes blockchain’s potential to transform billions of lives, stressing the need for a seamless UX for developers and consumers across different platforms.
“The current web3 wallet experience is designed to store digital assets, but it has the potential to become so much more! At Ethos, our goal is to create a web3 gateway for SUI, and the greater blockchain ecosystem, that allows everyday users to interact cross-chain while discovering new apps, games, and NFTs in the SUI ecosystem.” – Ethos co-founder Nadia Eldeib.
This is where HeroSwap comes into play. Embedding HeroSwap, powered by DeSo’s Smart Services, the Ethos Wallet allows for nearly instant and anonymous cross-chain swaps while maintaining custody of your coins. This mitigates the risk of unforeseen CEX blowups where users’ assets are locked up or outright lost, as we’ve seen with FTX and countless others.
With HeroSwap, cross-chain ecosystems like Ethereum, Solana, Bitcoin, and DeSo become instantly accessible for Sui users. They can now explore different layer-1 blockchains with ease while using Ethos as a central web3 hub that securely maintains all their crypto assets.
If Sui users want to avoid volatility, they can instantly swap into USDC or USDT using HeroSwap. Additionally, HeroSwap has frictionless zero login, so users never have to share sensitive personal information with centralized intermediaries.
DeSo Founder, Nader Al-Naji, is confident that HeroSwap holds the key to consumer-facing crypto applications that reach billions of users, redefining interoperability and composability:
“HeroSwap unlocks the potential for consumer-facing crypto apps to reach billions of users. It’s redefining interoperability and composability for all crypto applications, and it can be integrated with any web3 app with just a single line of code. The added bonus is that all swaps are nearly instant and anonymous, allowing developers and users to mitigate the risk of losing their assets to centralized exchange meltdowns while maintaining custody of their coins.”
The integration of HeroSwap into the Ethos wallet is the second DeSo partnership in the Sui ecosystem. Teams that incorporate HeroSwap into their crypto apps not only improve user experience through ease of onboarding but also stand to earn a percentage of every swap from the permissionless revenue-sharing program. The integration process is simple, easy, and only takes a few minutes of time.
The HeroSwap-Ethos partnership exemplifies DeSo’s commitment to creating an interoperable blockchain future by making it easy for ambitious founders to create viral consumer-friendly crypto applications that reach billions of users.
Raising $200 million from leading investors such as Sequoia, Andreessen Horowitz, Coinbase Ventures, and more, DeSo is a pioneering layer-1 blockchain whose mission is to decentralize social media, much like Bitcoin and Ethereum have decentralized finance.
Recently, DeSo has unveiled an array of groundbreaking innovations. Among these is Revolution, their breakthrough Proof-of-Stake mechanism, set to boost energy efficiency by 99% and position DeSo as one of the most deflationary layer-1s in all of crypto.
Additionally, Deso released four new app proposals, including Openfund 2.0, a DEX that works as seamlessly as centralized exchanges like Binance, enabling nearly instantaneous and anonymous trades while allowing users to maintain custody of their coins.