Africa’s First EVM Layer-1 Asset Chain Launches Invite-Only Mainnet with Gasless DEX to Transform Nigeria’s $900B P2P Market
Asset Chain’s USDT/cNGN DEX drives liquidity for African RWA tokenization, targeting Nigeria’s fragmented P2P trading with secure, fast transactions.
[Lagos, Nigeria—June 30, 2025]— Asset Chain, Africa’s first Ethereum Virtual Machine (EVM) Layer-1 blockchain built by an African team, has officially launched its mainnet, marking a historic milestone in African blockchain innovation. Accessible exclusively via invite codes distributed to active community members, the mainnet introduces a gasless decentralized exchange (DEX) designed to revolutionize Nigeria’s estimated $900 billion peer-to-peer (P2P) trading market, which is plagued by fragmentation and fraud. According to a Punch article, while centralized exchanges (CEXs) reported $50 billion in P2P transactions, the total market is projected at $900 billion due to its decentralized and informal nature.
Asset Chain’s mission is to tokenize Africa’s real-world assets (RWAs), estimated at over $10 trillion across real estate, agriculture, commodities, and government bonds. By bringing these assets onchain, Asset Chain aims to enhance accessibility, liquidity, and transparency, enabling fractional ownership and global trading. Examples include tokenizing Nigerian real estate for diaspora investment, agricultural produce like cocoa for supply chain financing, and government securities for retail access.
“We’re building a blockchain to unlock Africa’s economic potential by making traditional assets liquid and accessible,” said Ugochukwu Aronu, co-founder of Asset Chain. “Our mainnet launch is the first step to capturing Nigeria’s estimated $900 billion P2P market and scaling RWA tokenization across the continent.”
Revolutionizing Nigeria’s P2P Market: A $900B Opportunity
At the heart of Asset Chain’s main net is its gasless DEX, which enables seamless trading of $USDT and $cNGN, Nigeria’s first Securities and Exchange Commission (SEC)-approved Naira stablecoin. The DEX addresses Nigeria’s fragmented P2P market, where fraud and high fees erode trust. By leveraging cNGN’s 1:1 Naira peg and regulatory backing, alongside USDT’s global stability, the DEX offers fast, secure, and zero-cost transactions, positioning Asset Chain to capture significant market share.
Ogedegbe Uyoyo, Chief Business Officer at Convexity and Managing Director of cNGN, emphasized the transformative potential:
“cNGN’s integration with Asset Chain’s DEX creates a trusted, regulated bridge for Nigeria’s P2P traders. We’re targeting 100 billion Naira ($60 million) in trading volume in the first 60 days, driving liquidity for tokenized assets and fostering financial inclusion.”
The DEX’s gasless model eliminates transaction fees, making it ideal for high-frequency P2P trading, remittances, and DeFi use cases like yield farming. By creating deep liquidity for $USDT/$cNGN, Asset Chain lays the foundation for onboarding tokenized RWAs, such as real estate or agricultural assets, which can be traded seamlessly onchain.
Nigeria leads global P2P crypto trading, with $56 billion moved in 2022–2023, a 9% year-over-year increase. The $900 billion market estimate reflects informal trading, remittances, and crypto adoption, far exceeding the $50 billion reported on CEXs due to fragmentation. Asset Chain’s DEX mitigates risks like fraud, prevalent on platforms like Binance and Bybit P2P, where manipulation has been reported. With cNGN’s SEC approval and Asset Chain’s gasless trading, the platform is poised to streamline this market, targeting 100 billion Naira ($60 million) in the first 60 days in DEX trading volume.
Mainnet Features and Ecosystem Growth
Asset Chain’s mainnet offers robust infrastructure for developers and users, including:
DEX: Trade $USDT/$cNGN with zero gas fees.
Explorer: Track transactions and blocks transparently.
Bridge: Move assets cross-chain securely.
The mainnet hosts a vibrant ecosystem of partner projects, either live or launching soon, including:
Xend Finance: Decentralized credit for underbanked communities.
Wicrypt: Decentralized internet connectivity sharing.
MoonPie: Token launchpad like pump.fun.
Eden Finance: DeFi yield optimization.
Gamic: Social gaming with blockchain rewards.
Hammer Games: Play-to-earn gaming.
UseAzza: DeFi Venmo for payment.
These projects, detailed in Asset Chain’s ecosystem overview, showcase the platform’s versatility across DeFi, GameFi, DePIN and more, driving adoption in Africa and beyond.
Tokenizing Africa’s Wealth
Asset Chain’s RWA tokenization strategy targets Africa’s untapped wealth, from Nigerian real estate ($1 trillion market) to agricultural commodities like cocoa and cashew ($5 billion export value). Tokenization enables fractional ownership (e.g., $100 stakes in Lagos property), global liquidity (trading assets on the DEX), and transparency via blockchain. Benefits include:
Accessibility: Retail investors can access high-value assets.
Liquidity: Tokenized assets can be traded 24/7 onchain.
Efficiency: Smart contracts reduce intermediaries and costs.
By starting with a liquid $USDT/$cNGN DEX, Asset Chain creates a marketplace where tokenized RWAs can thrive, attracting both local and diaspora investors.
Asset Chain’s invite-only mainnet launch, with codes distributed to active community members, signals a controlled rollout to ensure stability and engagement. The platform plans to scale its Layer-1 to support more asset types and higher transaction volumes, with cNGN as a cornerstone for DeFi and remittances.
As Africa’s first EVM Layer-1, Asset Chain is redefining blockchain’s role in the continent’s economy, starting with Nigeria’s P2P market and expanding to tokenize the region’s vast wealth. For invite codes and early access to the liquidity program, kindly fill this form.
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