Automated token exchanger LuaSwap is cutting costs by employing a second-layer alternative to transacting on the heavily crowded Ethereum mainnet.
The number of projects adopting layer-two solutions for Ethereum’s scaling woes is increasing, with LuaSwap rolling out a new, TomoChain-based exchange engine yesterday.
The change will enable the Uniswap inspired exchange to perform token swaps with greater speed and efficiency than many rival Automated Market Maker ERC-20 exchanges.
1/ #LuaSwap version on @TomoChainANN blockchain is live, entirely open to all $TOMO and Ethereum projects Users can now experience another $LUA version with: ✔️ Super speed✔️ Near-zero gas fees✔️ No network congestionDetails: https://t.co/Be8claDkgT— LuaSwap (@LuaSwap) January 27, 2021
While LuaSwap remains an Ethereum-based application, transactions related to conversion processes are now performed using the TomoChain blockchain, instead of Ethereum.