From rising star Magic Eden in the Ordinals and Solana Non-Fungible Token market is ready to advance into a larger DeFi market, Magic Eden announces the acquisition of Slingshot Finance, preparing to attract new users with the "decentralized" spirit of DeFi.
Magic Eden founder Jack Lu stated that users can trade tokens through the Magic Eden wallet, but unlike mainstream centralized cryptocurrency exchanges in the US like Coinbase, Slingshot Finance is a decentralized exchange that allows users to trade without intermediaries. The Slingshot Finance application will not force users to perform a series of operations to transfer cryptocurrencies from one place to another, but instead calculates in the backend, providing a trading experience similar to Coinbase while enabling cross-chain trading.
Jack Lu said he will not integrate Slingshot Finance into the existing Magic Eden team, but will first support the startup's operations. Slingshot Finance's CEO Clinton Bembry will report to Lu's co-founder and Magic Eden's Chief Product Officer Zhuoxun Yin.
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ToggleSlingshot Finance Introduction
Slingshot is a multi-chain mobile trading application that can use its chain abstraction protocol to seamlessly trade over 8 million tokens across chains without bridging.
Slingshot's feature is a universal balance that allows spending dollars on any chain at any time.
How to Use Slingshot?
Download the APP from iOS or Android store, where you'll first see a screen requesting a Referral Code, which can be skipped if unavailable. You can create an account using email and a self-set username and password. When creating an account, you can choose to use Microsoft Authenticator or facial recognition, or skip directly if not needed.
The system's default personal information protection is a Pincode. If you want to modify the protection method, you can go to the Security page in the application. In the Security page, you can also create a backup, writing down the six seed phrases with pen and paper to restore account login if you forget the Pincode. The Security page also allows you to choose facial recognition login and camera access, which are system-default closed and can be optionally enabled.
Slingshot deposit methods include Apple Pay, credit card, debit card, PayPal, Venmo, or transferring tokens from other exchanges or wallets to the Ethereum or Solana wallet address in the Slingshot APP.
This article is for academic research only and does not constitute any investment advice.
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
