TeraBlock Swidge: A step towards “Marketwide Interoperability”
Swap and bridge tokens across blockchains — from a unified interface.
TeraBlock is committed to changing the Decentralised finance landscape for the better. TeraBlock Swidge lets users buy crypto through bank cards and then allows them to swap, bridge and transfer tokens from a unified interface to any blockchain game in just a few clicks. It’s an automation Web3 protocol designed to cater to Blockchain-based games to minimize the friction of user onboarding and user adoption.
Users can buy tokens with their bank cards directly to their Web3 wallet, select the game they want to play, and the Swidge protocol will automatically swap, bridge, and transfer the tokens to the user’s in-game account.
What is TeraBlock Swidge?
TeraBlock Swidge is a powerful continuation of TeraBlock’s idea of closing the gaps between isolated blockchain infrastructures. Our vision for TeraBlock has been to create an ecosystem that cuts across the complexities involved in decentralized asset trading.
What does it do?
Marketwide Interoperability: TeraBlock Swidge provides marketwide interoperability by allowing users to swap and bridge tokens on a unified platform in just a few clicks.
- Users purchase stable coins directly with their bank cards.
- Next, they can buy swap, bridge, and transfer any game tokens in one go using the TeraBlock Swidge.
- Users get their tokens directly into their in-game wallet.
- The entire process takes a few minutes without using separate protocols for buying, swapping, bridging, and transferring tokens.
What does “Swidge” mean?
A powerful automation protocol that combines the “swap” and “bridge” functionalities, TeraBlock Swidge makes it exceedingly simple to swap tokens based on different native blockchains.
- It’s an innovative way to carry out an instant cross-chain token swap.
- This means that users do not need to swap tokens and then bridge them, they can simply “Swidge” them in one go.
TeraBlock Swidge for Splinterlands:
The first iteration of TeraBlock Swidge will be integrated on the Splinterlands platform. The integration will allow users to swap their stablecoins such as USDT, USDC, BUSD on the Binance Smart Chain to the HIVE chain directly into Splinterlands in-game wallets.
Features of TeraBlock Swidge:
- Fast and efficient.
- Supports multiple tokens
- Swaps across multiple blockchain networks
- Low transaction fees
- Marketwide interoperability
Pushing the adoption of Blockchain gaming
Blockchain technology has given rise to a new sub-genre of gaming popularly known as Blockchain gaming. Blockchain offers players a host of new opportunities like greater control over their gaming and the ability to earn assets with real value. Some statistics even suggest that GameFi applications have surpassed DeFi in terms of user popularity. According to Bloomberg, nearly 50% of active cryptocurrency wallets connected to decentralized applications in November 2021 were for playing games. Hundreds of new NFT games, such as Splinterlands, CryptoMines, and Alien Worlds, have gained hundreds of thousands of new daily users in recent months.
How TeraBlock can accelerate user-onboarding for Blockchain games:
The principal challenge associated with the adoption of blockchain-based games is the lack of awareness of blockchain technology. Blockchain games have real-value assets that are based on the blockchain. Users require in-game tokens or assets in course of the gameplay. However, it can be a challenge for new users to understand how to acquire these assets. In-game assets can be brought by swapping them for popular cryptocurrencies and then bridging them onto compatible blockchains. This involves several intermediate steps that can be a little complicated for new users. This is also where we believe TeraBlock can make a big difference. TeraBlock Swidge eliminates these complexities and makes it exceedingly simple for users to buy in-game tokens directly in their in-game wallets using stabecoins on the Swidge protocol.
Reducing the steps in user On-Boarding:
The current onboarding process for most blockchain games is quite tedious and complicated. The users start by downloading a web 3 wallet and then they are required to add token contract addresses and different blockchain networks to their wallets. Further, they need to create an account on a centralized exchange (CEX) and get it verified. Once verified, they can proceed with buying a popular cryptocurrency like BNB or ETH using their bank card or another supported payment method. With their crypto, they can buy the in-game tokens that they wish to buy. However, they cannot use their in-game tokens just yet. They would still need to use a blockchain bridge to route tokens to the blockchain that the game is based on. After routing the tokens to the compatible blockchain, they can transfer the tokens to their Web3 Wallet, connect their Web3 Wallet to the game and start playing.
However, with Swidge, users can complete the entire onboarding process in a minimal amount of time.
Step 1:
Guided process to download and activate a Web3 Wallet
Step 2:
User selects the game, and the token to purchase and enters a unique user in-game identifier such as a wallet address, a user ID, or email.
Step 3:
Unique Web3 address is then created for the user for the selected game.
Step 4:
User purchases crypto using a bank card directly to that Web3 wallet address or transfer existing Crypto to the Web3 wallet.
Step 5: (Where the magic happens)
Tokens are swapped, bridged and transferred into the user’s in-game wallet by the Swidge Automation protocol.
Bridging the gap between isolated blockchains
Although Decentralisation is a powerful idea, the crypto space is still largely divided between “decentralized” and “centralized”. It is quite evident that centralized platforms dominate the landscape by an overwhelming margin. The complexity involved in carrying out cross-chain transactions is not just a considerable barrier for beginners, it also adds to the time and money cost of the transaction. The problem of cross-chain interoperability or the lack of it has emerged as the biggest obstacle in the way of the mass adoption of decentralized finance.
Our vision for TeraBlock has always been to create a radically transparent and inclusive ecosystem that thrives on decentralization, one without bankers and intermediaries as gatekeepers and one that can be accessed by anyone anywhere in the world. The idea is to give users an intermediate solution that bridges the gap between the centralized and decentralized worlds of crypto.
TeraBlock Swidge is the pioneering protocol that will enable users to trade, swap and bridge popular assets across different blockchains without having to use multiple protocols, and without delays or exploits, in one go.
Whether you have a question about our products, features, or anything else, our team is ready to answer all your questions. Please feel free to get in touch with us on our Telegram Community Chat.
TeraBlock official links:
⦿ Website
