DEX Integrates FEVM, Ushering in a New Era of Multi-Chain Web3

한국인

08 Apr 2024

FEVM is an operating environment created by Filecoin to ensure compatibility with the Ethereum ecosystem. It acts like a translator, enabling programs on Ethereum to "speak" the "language" of Filecoin. Developers can deploy and run Solidity smart contracts on non-Ethereum mainnets using FEVM without needing to modify their code.

The emergence of FEVM has broken the dependence of the Ethereum ecosystem on a single chain, providing new possibilities for multi-chain applications and cross-chain interoperability. It also provides key infrastructure for the development of Web3, giving developers greater flexibility to build applications on different blockchains without having to relearn new programming languages or development environments.

FEVM runs on the Filecoin chain and has high compatibility with EVM. It mainly includes the following components:

EVM bytecode: The code of a smart contract, stored in the form of EVM bytecode.

Filecoin Execution Environment: Convert EVM bytecode to Filecoin instructions and execute them.

Storage Layer: Utilizes Filecoin's storage network to store smart contract data.

This clever architecture design allows developers to easily deploy existing EVM smart contracts on FEVM without any code modifications. At the same time, Filecoin's efficient storage capacity can also ensure the stability and security of smart contract operation.

The prominent DEX giants Uniswap and Sushiswap have announced their platforms' integration with FEVM, signaling that DEXs are actively exploring new ways to expand their functions and service scope. This will provide users with a richer trading experience and propel the overall development of the DEX industry. It also means that DEXs will attract more projects and funds into the FEVM ecosystem, injecting new vitality into the entire Web3 ecosystem.

Specifically, DEXs have the following impact on the FEVM ecosystem:

1.Attracting more users: DEX provides users with a more convenient and low-cost trading platform, lowering the barriers to entry and attracting more users to the FEVM ecosystem. Users can engage in various token trades and DeFi activities on DEX to gain more profits. Moreover, the anonymity of DEX also attracts some privacy-conscious users to FEVM.

2.Generating more traffic: As a crucial entry point to the FEVM ecosystem, DEX enhances trading efficiency by aggregating liquidity and collaborating with NFT markets, gaming platforms, and other projects. This attracts more users to conduct trades and DeFi activities, thereby bringing more traffic to the FEVM ecosystem.

3.Increasing TVL: DEX can increase the Total Value Locked (TVL) by boosting user participation, providing liquidity mining and other incentive measures, and collaborating with other projects to channel funds into the FEVM ecosystem.

ChainUp Custody seizes the opportunity and takes the lead in laying out FEVM.

As a leading digital asset custody service provider, shortly after Filecoin released FEVM, ChainUp Custody took the lead in supporting FEVM and launched corresponding custody services to provide users with secure and convenient FEVM asset management solutions.

ChainUp Custody has always been committed to providing customers with high-quality services and experiences, and actively participating in the construction of the Web3 ecosystem. ChainUp Custody will continue to deeply cultivate the FEVM field, provide users with more innovative services, and help the prosperous development of the Web3 ecosystem.

FEVM has brought tremendous changes to the Web3 ecosystem. It will promote the rapid development of decentralized storage and Web3 applications, providing users with richer, more convenient and secure decentralized services. The active layout of DEX also indicates the important position of FEVM in the Web3 wave. In the future, with the addition of more DEX and DApps, FEVM will play an increasingly important role in the Web3 ecosystem.

Work with leading companies such as ChainUp Custody to usher in a new era of multi-chain applications!

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