Press release. Tel Aviv – July 27, 2021 – KilobBlockchain technology companies have launched the “P2P Exchange Button”, a decentralized tool that allows cryptocurrency users to perform token exchanges without the need to use an exchange or escrow third party.
By exchanging over-the-counter exchanges, the tool allows users to determine their token prices and trade directly with their peers. As a result, slipping is completely avoided.
Asaf Naim, Co-founder and CEO of Kirobo, said: “So far, it has been impossible to execute swap transactions without losing money because the trading algorithm adjusts the price of tokens based on the amount sold. We allow people It’s the first time in history to trade without an exchange and set your own price in complete safety.”
Kirobo’s secure transfer platform uses authentication keys to protect transactions, and its components are divided between the first party, the smart contract, and the Kirobo server. There is no single point of failure, Kirobo will not hold users’ funds at any time.
Token exchange is a key feature of the cryptocurrency ecosystem, which enables people to diversify their investment portfolios and support new DeFi projects. Previously, users had no choice but to use exchanges or custodial over-the-counter parties to avoid the inevitable complications of two-way cryptocurrency transfer. However, the exchange will raise and lower prices based on market demand, and ultimately force sellers to sell at a “discount”.
The P2P exchange button is designed to solve this problem. As an extension of Kirobo’s pioneering undo button, it protects the transaction initiator with a password created by the transaction initiator. The second party must enter the correct password at its end to perform the transmission. With P2P Swap Button, the second party must also sign the transaction, and the transfer itself is executed by the smart contract at the same time.
In other words, the two exchangers must agree on the price before the exchange is complete. In this way, you will not lose money in the transaction, and you can also choose to execute the transaction during off-peak hours to avoid high gas fees.
P2P exchange button compatible Ethereum And ERC-20 tokens. Kirobo does not charge fees for using the service and stated that its intention is for a fair trading environment.
Tal Asa, Co-founder and CTO of Kirobo, said: “P2P Swap Button allows users to benefit from fairer swaps from the security of our non-custodial authentication mechanism. We Imagine that this tool encourages the adoption and use of cryptocurrencies, and really promotes the ecosystem in the coming years. ”
Kirobo, located in Tel Aviv, has received two grants from the Israel Innovation Agency, which are unachievable by other blockchain companies. Its reversal mechanism has processed cryptocurrency transfers worth more than 1.5 billion U.S. dollars and helped users get back more than 6 million U.S. dollars through hundreds of cancelled transactions.
Kirobo’s mission is to make cryptocurrency a daily tool that everyone can use with confidence. We have achieved this goal with user-friendly products that eliminate the risk of human error and fraud in cryptocurrency transactions and make encryption management as safe as possible. Kilobo Is the proud recipient of two grants from the Israel Innovation Agency-the only blockchain technology company to achieve this goal.
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