Decentralized finance, while born out of the marriage of cryptocurrency and blockchain technology, has developed into an industry of its own. Defi is the decentralized twin of traditional finance and aims to bring all conventional fintech services to the cryptocurrency ecosystem.
The amalgam of the Defi and Fintech world can create a rewarding and secure banking platform for the users to trade, swap, buy, exchange or perform any number of financial services without worrying about security or centralization. However, the merger between Defi and Fintech is not a far-fetched dream anymore as CoinSwap, an incentivized Defi Protocol, has created a beautiful blend of Defi and Fintech.
What is CoinSwap?
CoinSwap is a decentralized exchange that offers a suite of products powered by a Defi environment. CoinSwap is built on Binance Smart Chain to utilize its cross-chain compatibility and low cost and fast transactions. The platform has developed a decentralized environment where the community is incentivized for participation with the help of automated liquidity.
CoinSwap is developed to create a community-centered platform where all the members are rewarded for their support in building the AMM model. The platform creates tokens that can be exchanged for services and products on CoinSwap to offer a smooth experience without any unnecessary and high transaction fees of Ethereum Blockchain.
CoinSwap is powered by a CSS token that acts as a utility and governance token and has several use cases within the ecosystem. CoinSwap has developed a decentralized finance-inspired suite of products that adds utility to the platform.
Voting
CSS token holders can participate in on-chain voting that helps manage and implement changes to the CoinSwap ecosystem. All the rules for instituting modifications proposed by the developers are encoded into the blockchain protocol, and the token holder votes on them for approval.
AMM/ SWAP
Being an Automated Market Maker (AMM), CoinSwap can create new pools that utilize smart routing to offer the best swapping rates, avoid slippage and price impact. Liquidity Providers can stake their tokens in the pool to earn CSS-LP tokens (CoinSwapSpace-LiqudityProvider) that can also be staked to earn the CSS token.
The on-chain governance model was designed to eliminate centralization in the traditional governance model and keeps the entire ecosystem decentralized.
Liquidity
CoinSwap offers an LP manager that enables users to provide liquidity to CoinSwap’s liquidity pools to earn CSS-LP tokens. For instance, if a user deposits $CSS and $BNB to a liquidity pool, the LP manager will reward them with CSS-BNB and CSS-LP tokens. The CSS-LP token represents a proportional share of the pooled assets to help them reclaim their tokens at any time.
Yield Farming & Staking
CoinSwap has created a yield farming model where liquidity providers can earn up to x40 times their initial investment depending upon the farm. Similarly, users can also stake $CSS tokens to earn rewards in $CSS, $VNT, $ADA, or $ETH. However, choosing $CSS token as the reward token users can benefit up to x20 the initially invested tokens.
Apart from these products, CoinSwap also helps in saving transaction fees and listing any BEP20 tokens. Using these advanced products and vital services, CoinSwap has created an enviable set of Defi products and established itself as a formidable competitor in the Defi space.
To learn more about CoinSwap, visit https://coinswap.space/.
Disclaimer: This is a paid post and should not be treated as news/advice.
