Kirobo, a blockchain platform aiming to ease users’ crypto journeys, has launched a service called the ‘P2P Swap Button’ allowing users to buy, sell and exchange cryptocurrencies without any slippage. The company is known for its first product, the Undo Button, which allows reversal of transactions in case of a mistake.
Kirobo’s P2P Swap Button allows users to complete peer-to-peer exchanges on a decentralized and secure platform. The launch aims to boost user adoption in DeFi and "grant people the freedom to control their cryptocurrency."
The service, launched on July 27, will allow token swaps between peers without the need for an exchange or custodial OTC party. Using the P2P Swap Button, users can set their own token prices, avoiding the slippage associated with decentralized exchanges.
Speaking on the launch, Asaf Naim, Kirobo co-founder and CEO, stated that the innovation will "disrupt the token swap market" in the near future. He said:
"Until now, people had to use an exchange if they wanted to swap, but they'll never get the best deal there because venues adjust prices according to how much you're selling. We're allowing people to trade directly with their peers, for pre-agreed prices, and complete safety."
Kirobo is a company focused on user-friendly innovations in the crypto space with an aim to make complex and human error-prone systems simple for everyday use.
Its Undo Button "allows users to reverse a crypto transfer sent in error," hence minimizing the human errors involved in the complex world of cryptocurrencies. Users can now undo wrong transfers of various tokens including Ethereum (ETH), Uniswap (UNI), Chainlink (LINK), Binance Coin (BNB), Tether (USDT), Sushiswap token (SUSHI), and the native Kirobo token, KIRO. The technology requires users to set a password to ensure that a transfer is made to the correct recipient.
With the unique P2P Swap Button, users can set their token prices - independent of current exchange or market prices - to reduce slippage. The token price set will be the execution price, whatever the size of the swap. Additionally, the service is feeless to boost participation from crypto holders and offers multisig security removing the risk of error and fraud from token swaps.
Tal Asa, Kirobo co-founder and CTO, said:
"We're not charging people to use the P2P Swap Button because our goal is to level the playing field. The service lets users make more lucrative swaps, with the confidence that comes with a bulletproof, non-custodial authentication mechanism."
Over the past year, Kirobo’s Undo Button has processed more than $1.5 billion worth of cryptocurrency and retrieved over $6 million, via hundreds of error transactions. Moreover, Kirobo was the first and only blockchain innovation firm to receive two grants from the Israel Innovation Authority.