Boomswap

Boomswap is a self-custodial decentralised exchange where all the world's currencies are tokenised and traded, peer-to-peer. It is made up of persistent smart contracts that run on the Boom blockchain and utilises an automated market maker model instead of traditional order-book based models. Boomswap has no single centralised authority that runs it and is seizure and censorship resistant, forever.

On Boomswap, anyone can create or fund a liquidity pool and earn trade fees of 1.60% on all swaps. To create or add liquidity to a pool, you will need an equivalent amounts of both assets.

Boomswap was created to foster cross-border trades, especially in emerging markets where 90% of all trades are settled in cash, by enabling instant payments in tokenised local fiat currencies. To achieve this, BoomDAO, the non-profit organisation that created Boomswap, has tokenised all the fiat currencies of the world into stablecoins that are backed and redeemable 1-to-1 by deposits in each country. This ensures seamless fiat off-ramp at scale because Boomswap's liquidity is backed by the most liquid asset of all, cash.

Tokenising cash expands its utility into DeFi which injects international demand and liquidity into them, reduces settlement costs, while enhancing transaction transparency, traceability and security.

How is Boomswap different from other decentralised exchanges?

Unlike other decentralised exchanges, all the stablecoins on Boomswap can be off-ramped into goods, service and banks worldwide.

Are all Boom Stablecoins Backed by Fiat?

Yes, all the tokenised assets traded on Boomswap are backed and redeemable 1-to-1 by physical deposits of the underlying real world asset.

For example, in order to mint a Boom tokenised Euro, €1 in fiat must first be deposited in a bank in the euro-zone.

How do I Fund my Wallet with Boomswap Stablecoins?

Boomswap stablecoins can be acquired on Boomswap or from BoomDAO merchants.

How do I cash-out from Boomswap to my Bank?

Boomswap is the first decentralised exchange where users can swap fiat (on-ramp) for tokenised fiat and swap tokenised fiat directly back into their banks (off-ramp) in any of the supported currencies, instantly.

Is Boomswap compliant with regulations on Money Laundering?

While Boomswap is a self-custodial decentralised exchange that anyone can access, off-ramping to fiat is only possible at scale via banks. This ensures that customers that are off-ramping are already bank-regulatory compliant.

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To see the full list of supported tokens please refer to:

Tokens

Contracts references and addresses:

Contracts