SINGAPORE, March 31, 2022 /PRNewswire/ — Encentive.io, a protocol which enables developers to build their own decentralized exchange (DEX) and offer comprehensive DeFi functionality, has announced that it is working with MAP Protocol, a multi-layered cross-chain operable blockchain for developers. This partnership means that any developers building on MAP will be able to set up their own DEX and offer DeFi services such as staking pools, air drops, lending and yield products using the shared liquidity system that Encentive has set up with its users.
Running DEXs and accessing liquidity has typically been a major obstacle for developers especially in terms of cross-chain capabilities. Encentive overcomes this so that developers can now offer these functionalities to developers on MAP Protocol with minimal setting up costs and complications.
A spokesperson for MAP said of the new partnership, "Working with Encentive removes so many obstacles for our developers. Encentive makes accessing liquidity simple and its almost ‘plug in and play’ nature removes the complexity of building DEXs and decentralized features – such as staking and airdrops – for the developers building on MAP."
Encentive works to enable the deployment of DEXs using modular development tools, including adding trading pairs, injecting liquidity and generating front-ends. Customizable incentivizing of LPs and shared liquidity pools are enabled by the Encentive protocol from the start. Encentive’s flexible back-end also enables the deployment of lending markets. Its "protocol own liquidity" gives projects a stable liquidity supply. At the same time the DeFi functionalities it offers will give developers a variety of income streams via trading fees.
MAP Protocol is a decentralized cross-chain interoperability protocol backed by a dedicated blockchain that safeguards cross-chain assets and empowers Dapps to achieve its full potential. MAP Protocol is more than just a bridge, it is a truly decentralized cross-chain interoperability protocol. MAP Protocol empowers developers to build all kinds of cross-chain Defi applications on it. This helps to solve the interoperability issue and achieve dynamic liquidity migration across the blockchain universe.
An Encentive spokesperson said, "MAP is the perfect use case for our offerings. Our service will enable their cross-chain applications to be easily built and run right from the start. Encentive was designed to provide a transaction process that is both user friendly and providing sufficient and stable liquidity. We can now assist developers building on MAP with a convenient way to generate their own DEX and open up the possibility to generate their own income through it."