PERRY, PBX, and OSWAP Tokens are Trending – A Market Wrap
Swaperry is a decentralized exchange (DEX) that is becoming more and more popular with time. Its token is listed on 356,952 watchlists. The team designed Swaperry to offer a highly performant, transparent, and multiple-featured platform to traders. They build it on top of the Polkadot ecosystem. As a result, Swaperry will be able to offer noticeably faster transactions, and scalability, along with cheaper fees.
The company plans to launch its native tokens ICO on August 27, 2021. 2,000,000 PERRY tokens will be available for sale, and the price will be $0.050000 per token during the initial coin offering. Swaperry plans to raise $100,000 by trading PERRY coins, and the platform will accept BUSD in exchange.
PERRY token holders can use it to unlock more advanced trading functionalities, participate in governance voting, and share revenues from transaction processing fees.
What products does Swaperry offer to its users?
The platform already offers many products to its users, and the list will continue growing in the future. This user-friendly, AMM-based exchange has lots of advanced features, which were available only on centralized exchanges previously. For example, users will have access to limit orders, options, and derivatives.
Furthermore, the company offers cross-chain support within the Polkadot ecosystem, and eventually, it will add external support to other popular blockchains (such as Bitcoin, Ethereum, etc.). Swaperry also provides a suite of tools that help traders and investors analyze the market and aggregate prices to make informed decisions.
Currently, two types of exchanges dominate the market. The first ones are centralized exchanges, also called CEX. These traditional exchanges became powered by an off-chain system. They usually enable asset trading via orderbooks. On the other hand, decentralized exchanges, called DEX, are a new form of exchange that has been gaining popularity recently. Their architecture enables customers to trade in a secured, non-custodial, and anonymous manner. In addition, most popular DEXes use an automatic-market-maker (AMM) approach to facilitate exchanges instead of using orderbooks.
CEXes presently produces most of the trading volumes. DEXes saw a huge increase in usage during the past few years, but they come at a price. Most of them do not offer cross-chain trading, and transactions are often delayed. Moreover, the user interface is more confusing on the DEX platforms and advanced features like limits, options, and margins, are nearly non-existent.
However, Swaperry aims to become the next generation of DEXes and solve these four limitations. To achieve that goal, the company decided to take advantage of Polkadot, one of the fastest and cost-effective parachain ecosystems. Swaperry also employs optimization techniques and intelligent algorithms that make trading feel comparable to that of CEXes. Its goal is ambitious, but it’s still achievable.
How many PERRY tokens are circulating on the market currently?
Swaperry launched on mainnet in July, with 10 million tokens created at genesis. The company plans to mint additional tokens linearly during the next five years. Overall, it will release a total of 200 million tokens to support the product, its development, and future expansion.
According to the team, Swaperry will distribute the tokens in the following manner: 6% goes to Seed Sale, 16.5% is for Private Sale, 2.5% for Public Sale, 9% goes to Marketing and Listing, 20% is set aside for Team Founders and Advisors, 6% is for Ecosystem, 20% goes to Liquidity Mining and 20% to Foundation.
The platform’s founders are Phil Dang (CEO) and Tuan Nguyen (CTO). They have a strong background in engineering and claim that Swaperry is their passion.
Phil Dang formerly worked as a senior software engineer in Silicon Valley. He also worked at Facebook for many years. On the other hand, Tuan Nguyen was a veteran engineer at U.S. Motorola. Sharing excitement for blockchain technology, the two of them formed the Swaperry in September 2019.
The project has grown since then, and now it has nearly 20 engineers. It also boasts lots of established advisors, including founders of PolkaFoundry, Rikkeisoft, Tomochain, and Kyber Networks.
What about Paribus’ token?
Paribus is a cross-chain lending and borrowing protocol for NFTs, synthetic assets, and liquidity positions. Powered by the Cardano blockchain, this project is still fresh, but it has good potential. Paribus announced that it would launch its native token PBX on August 27, 2021. The sale will end on August 28, 2021. The company aims to raise $150,000 by trading its utility coins. It will accept ETH in exchange for PBX.
The platform plans to support both conventional and unconventional crypto assets. It will allow its users to unlock liquidity, as well as interact with the markets without having to liquidate assets. The team acts according to the motto – “If it can be sold, there is a market value. And if it has value, it can be modeled.”
The company’s goal is to be able to support assets such as USDT (ERC20, TR20, BEP20). At the same time, the team wants to expand its capabilities to support assets like an NFT for a piece of art or Virtual Land.
However, the concept of on-chain value is constantly changing. Defi users discover transformational ways to represent, store, leverage, and exploit this value. Users must develop this space to unlock the true potential of these assets. Besides, decentralized financial products are not siloed; They are borderless and inclusive.
Paribus, like a lot of Defi dApps, is built according to existing experience. It will use pools of assets with algorithmically derived interest rates based on the demand and supply for a given asset. However, the team became interested in the modeling approach from Compound. They want to go beyond existing experience and offer users something better.
OpenSwap’s token will soon also be available
The Defi universe continues to expand rapidly. However, in the process, liquidity becomes increasingly scattered across multiple chains. The current situation will likely get worse as new chains emerge with individual DEXs on each chain.
OpenSwap decided to become the most comprehensive one-stop Defi hub that will offer the best on-chain pricing, along with multi-chain arbitrage and trading. The platform will allow customers to experience various benefits through optimizing their trades with its unique features: Hybrid Routing, Liquidity Queues, Inter-Chain Liquidity Swaps, and DEX Aggregator. All of them will be available on one platform.
Carrying asset swaps or transferring digital assets across different chains is cumbersome and inefficient. However, multi-chain is here to stay. So, the OpenSwap team decided to revolutionize and unlock the boundaries of chain-specific digital assets. As a result, they will be able to leverage liquidity efficiently across different chains. The company will also give liquidity providers and traders an edge in the ever-changing Defi space by offering them some features.
The team shared these features include DEX Aggregator, Liquidity Queues, and Hybrid Smart Router. The platform will provide excellent prices, along with minimized slippage to customers through aggregating liquidity from various sources.
Furthermore, OpenSwap Liquidity Queues will offer spot market trades. Hybrid Smart Router will take the liquidity queues to the next level by enabling the coupling of swap trades from AMM pools with Queues.
OpenSwap also plans to launch its native utility token OSWAP on August 30, 2021. The sale will end on August 31, 2021. In total 8,500,000 OSWAP tokens will be available during the initial coin offering. The price will be $0.040000 per OSWAP, and traders can buy it on the Impossible Finance Launchpad. The company aims to raise $340,000 by trading its coins. It will accept BUSD in exchange for OSWAP.
The post PERRY, PBX, and OSWAP Tokens are Trending – A Market Wrap appeared first on FinanceBrokerage.