Pact Swap’s cross-chain DeFi model and $PACT token explained by co-founder Toby Gilbert

In a 2025 interview, Pact Swap co-founder Toby Gilbert explains how the platform aims to reduce custody-related risks that have cost the crypto industry billions. Pact Swap uses collateralized smart contracts on Coinweb and relies on native blockchain consensus to offer cross-chain swaps that can be up to 90% cheaper than many existing solutions. The discussion also covers the $PACT governance and utility token, which manages value capture and ecosystem incentives without being used directly for transaction fees.