Tx fees for BRC-20 tokens have skyrocketed, with some transactions taking hours to confirm, causing frustration among users. Moreover, the limited availability of DEXes supporting BRC-20 tokens has further added to the obstacles faced by traders.
The popularity of BRC-20 coins has soared, with a market cap of $447,230,599 and a 24-hour trading volume of $207,446,993 (as of 24 May 2023, http://brc-20.io). However, this surge has come with its challenges, including high transaction fees and network congestion.
Discussion
The current dex solution charges a service fee of 1.6% per transaction, highlighting the need for an efficient and cost-effective alternative. There must be a better solution, hence NostrSwap is born, the innovative DEX designed to address these pain points.
Built on the resilient Nostr Protocol, NostrSwap offers a fully decentralized off-chain P2P marketplace for direct trading of BRC-20 tokens. Leveraging the power of Nostr, NostrSwap achieves zero-network fee tx, providing users with an unprecedented trading experience.