Kirobo Launches a “P2P Swap Button” Smart Contract-Powered Tool

Kirobo–a blockchain technology company that aims to be the enabler of DeFi, granting people control over their cryptocurrencies–has launched a smart contracts-powered ‘P2P Swap Button’, per a press release on July 27. The P2P Swap Button The button allows for direct peer-to-peer swapping of tokens without the need for a middleman. Typically, the intermediary is an exchange or an external asset custodian. Furthermore, Kirobo has said that the P2P Swap Button allows users to set their preferred token prices avoiding slippage. Usually, cryptocurrency exchanges adjust token prices depending on several factors, like existing liquidity and traders’ order sizes. Large order sizes in an exchange with thin liquidity leads to high slippage, unfavorable to the trader. The P2P Swap Button provides a means of linking parties in a decentralized manner. Using the tool, transactors will swap tokens at better rates, without having to exchange at a discount. Traders also have the liberty to choose when to trade for the best prices and swap with relatively low gas fees. Disrupting the Token Swapping Market Besides eliminating price risks, security is enhanced since all swaps are non-custodial. Funds won’t leave the custody of either party until there is confirmation and approval of the transfer effected using a verifying password. Asaf Naim, the co-founder and CEO of Kirobo, said the tool could disrupt the token swapping ...