News08 October 2021

Sienna Network Brings Private Trades To DeFi With A Privacy-Centric DeFi Crypto Exchange

Sienna Network Brings Private Trades To DeFi

Summary

· Sienna Network to bring private trades to DeFi

· Sienna is set to launch its new DEX, SiennaSwap

· The platform will support the swapping and trading of famous crypto tokens

· The new exchange will be built on the Sienna Network

The Sienna Network has launched its plans to bring forth a privacy-focused DeFi ecosystem, starting with its new SiennaSwap DEX (decentralized exchange). On this new exchange, users can trade secret version of well-known crypto tokens such as Cosmos and Ethereum with the ability to flip them anonymously. The platform supports swapping and trading of Ethereum., Monero, Cosmos, Polkadot, and the BSC.

The new exchange is built on the Sienna Network, powered by the Cosmos-based Secret Network.

Any interoperability questions will be answered after Cosmos finalizes the IBC (Inter Blockchain Communication) upgrade. This upgrade will allow the integration of blockchains with different consensus mechanisms on the broader Cosmos ecosystem.

“Sienna Network is built on a scalable protocol, which means the gas is low and transactions are almost immediate. A typical transaction costs about $0.02, which is very low compared to what we see at other blockchains and protocols. The real cost is even lower as users are not exposed to front-running, which is an increasing issue on the public DEXes as bots can easily monitor pending transactions and bypass them. This phenomenon is costly to users, and by using Sienna Network, users are protected against this.” - Monty Munford, core contributor to Sienna Network.

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