According to ChainCatcher, BiFi's new protocol UTXOSwap has released a light paper and plans to start public testing in late May. The UTXOSwap team won the first place in the CKB ecosystem in the Bitcoin Devcon hackathon competition and has now reached a strategic cooperation with the CKB Eco Fund.

UTXOSwap is a decentralized exchange (DEX) protocol based on CKB, which aims to define a new paradigm for Bitcoin Finance transactions. It currently supports transactions of RGB++ and CKB ecosystem assets, and plans to expand to other BTC ecosystem assets including Ordinals and Runes in the future.

UTXOSwap implements an intention-based hybrid trading model, while supporting the automatic market maker (AMM) mechanism and off-chain order book matching. Using CKB's underlying technology, UTXOSwap has the advantages of almost 0 Gas for Swap transactions and can be paid with any token, supports user-defined AMM curves and handling fee rates, and native Dapp compatibility with multi-chain wallets and L1/L2 seamless operations.