IMBS: The New DEx Solution That Makes Trading 99% Faster
FibSwap, a multi-chain decentralized exchange (DEX), enables users to swap tokens from one blockchain to another without unnecessary oversight from an intermediary or third party. While chain swapping is possible utilizing other methods, none are as efficient as FibSwap, due to its unique system known as the Interoperable Multichain Bridge System (IMBS).
What is the IMBS?
The IMBS creates a bridge between two blockchain networks, allowing users to swap assets from multiple chains in a single transaction. Such transactions are instant and cost very little in fees, so when compared to the 20–30 minute wait times among other cross-chain methods, IMBS is superior on all fronts.
You may be wondering how such low fees are possible with a transaction of this depth. Thanks to its $FIBO governance token, FibSwap can offer low fees via the IMBS. Users must hold FIBO to swap tokens between two networks, which will also lower the overall FIBO token supply and result in a higher-valued token.
Compared to other networks, it’s best to consider the IMBS as a new form of automated market maker (AMM). An AMM utilizes mathematical equations to determine the price of one asset and uses that knowledge to establish an equal-value swap between two or more types of tokens. In a similar concept to AMMs, the IMBS essentially monitors the value between two assets on different chains and ensures users can swap them without issue.
What the IMBS Provides to Users
IMBS technology ensures FibSwap can provide all sorts of significant benefits not seen or available on other DEXs. For example, combining the IMBS with FIBO tokens ensures holders will always know precisely how much transaction fees cost. This way, they won’t be subject to hidden last-minute fees like on other platforms.
Considering the bridges between networks are already established, IMBS provides users with instant and easy-to-use swaps at the press of a button. This simple to understand layout means even the newest crypto trader can take advantage of swaps without technical issues or barriers.
Currently, the IMBS supports swaps on the Ethereum ERC20, Binance Smart Chain BEP20, Polygon & Fantom blockchain networks — but this is just the beginning of what it will be able to offer. Thanks to this unique technology, FibSwap can quickly expand these features to other blockchain networks over time, creating a multi-chain ecosystem for users of all types.
Over the next few months, Fibswap will add additional features such as farming, apps for IOS and Android as well as additional blockchain bridges. It’s a technology ensuring FibSwap can offer the best to its user base across a variety of networks, giving the DEX legs for long-term usability and longevity.