$CKB BiFi's new protocol UTXOSwap released a light paper and plans to start public beta 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.

It is reported that UTXOSwap is a decentralized exchange (DEX) protocol based on CKB, which aims to define a new paradigm for Bitcoin Finance transactions.

UTXOSwap adopts an intent-centric trading model and takes advantage of the UTXO programming model. Currently, it supports the trading of RGB++ and CKB ecological assets, and plans to expand to other BTC ecological assets including Ordinals and Runes in the future.

UTXOSwap implements an intent-based hybrid trading model, while supporting the automatic market maker (AMM) mechanism and off-chain order book matching.

In addition, by utilizing CKB's underlying technology, such as chain-level designs such as cryptographic source language, UTXOSwap has the advantages of almost 0 Gas for Swap transactions and the ability to use any token for payment, support for user-defined AMM curves and handling fee rates, and dApp native compatibility with multi-chain wallets and L1/L2 seamless operations.