[PRESS RELEASE – Please Read Disclaimer]
January 10, 2021– The MAP protocol, a DeFi solution that acts as a freeway for blockchain assets by developing infrastructure that provides an end-to-end solution for users to freely exchange assets, is set to go live on the mainnet in the first quarter of 2022. The MAP protocol is currently operational on the testnet and is preparing for its mainnet launch. According to official reports, the MAP team intends to build its protocol on three layers at the same time: a blockchain layer, an assets layer, and a DeFi application layer.
The DeFi application layer is powered by an AMM model, enabling deep liquidity for cross-chain swaps and decentralized spot exchanges. Furthermore, the asset layer would serve as the foundation for communication between other blockchains, allowing assets to move freely between them. MAP’s blockchain is a fully EVM compatible blockchain secured by 100+ validators and using a BFT style protocol. Unlike other inter-blockchain projects, the MAPs team develops their solution in a more trustless and decentralized manner. Trustless smart contracts protect digital assets stored on the MAP protocol, only triggered when the cryptographic proof is validated.
One exciting aspect of the MAP blockchain is that it maintains the “light clients” of all the other interconnected blockchains, serving as the foundation for cross-chain verification. These light clients are kept up to date with cryptographic proof by 1000s of relayers. Furthermore, smart contracts that act as the assets vault can only be triggered via cross-chain messages, a security measure implemented by the MAPs team. The MAPs protocol is backed by heavyweights in tech like Microsoft Azure, and Softbank just to name a few.
One advantage of the MAP protocol is that it is gasless, which means almost no transaction fees for cross-chain asset transfers and swaps made on the MAP chain. The MAP protocol is based on decentralization, trustlessness, and randomness, the core ethics that gave birth to blockchain technology.
About MAP Protocol
MAP is a cross-chain protocol that allows users to move assets freely and cheaply across different blockchains. By constructing a sustainable digital asset infrastructure, MAP hopes to promote blockchain interoperability and accelerate the growth of the DeFi sector.
For more information about MAP protocol, refer to maplabs.io