gm world! 🌅
We’re excited to announce the launch of OpenPeer’s public beta – a self-custodial and decentralised P2P exchange. Built on top of the OpenPeer protocol – we exist to empower people globally to connect and trustlessly trade between crypto and fiat currencies.
Unlike centralised P2P exchanges and platforms, OpenPeer is entirely self-custodial. Funds always remain in your self-custody wallet like Metamask, until they’re escrowed into a smart contract that our protocol enables you to deploy in just a few clicks. Escrowed funds can only be moved between the two parties entering into a trade and aren’t at risk of loss or seizure. This decentralises p2p escrow, and it’s only the start of our path to building a fully decentralised p2p exchange protocol.
But why launch a decentralised exchange protocol when centralised ones already exist today? Simply put – we believe on the path to widespread adoption of non-state money, the rails to move between crypto and fiat currency are core infrastructure that should be unstoppable and uncensorable. As we move closer towards our goal, the challenges will get harder and it’ll become increasingly important that we build indestructible bridges between old and new forms of money.
Over time, more elements of OpenPeer will be decentralised including our orderbook, arbitration and reputation. The aim is that anyone can plug into the protocol to swap between fiat and crypto currencies regardless of borders, barriers or boundaries. All too often the good people who are most willing to adopt crypto are the ones most cutoff. OpenPeer aims to remove these barriers.
Today you can trade on OpenPeer with low fees, almost any currency and any instant payment method. It’s early days so if you don’t find a trading partner, you can post an ad, set up notifications and let new users find you.
We’re live on Polygon, with Arbitrum, Binance Smart Chain and Avalanche support coming over the next month
Working towards our goal will require a global effort from people of many geographies, tongues, and backgrounds. If you’d like to contribute join our Discord today.