WapSwap - The World's First Chain Balancing Token (CBT)

cryptoinmind (30)in #wapswap • 2 years ago

Overview

DeFI which is otherwise known as Decentralized Finance has been a big blessing to the blockchain industry and the world at large. As we know cryptocurrency serves as a decentralized store of value that is secured, DeFI creates a decentralized financial instrument free from traditional centralized institutions.

Just like the ICO boom of 2017-2018, they have been a rise in scam project within the DeFI space. These scam project has taken advantage of the rise of popularity of the DeFI industry. The people most affected are, newcomers, into the DeFI space who haven't or cannot properly research these projects.

As a writer in the blockchain industry, I have decided to create this post to help newcomers in identifying legit and genuine projects. They are a lot of them out there. Today I would be talking about one of the best I have come across. I must say this project is one of the DeFi project survivors of 2021.

I introduced to you WapSwap

You probably know the drill with cryptocurrency exchanges. Sign up with your email, come up with a strong password, verify your account, and start trading cryptocurrency.

Decentralized exchanges are like that, minus the hassle of sign-ups. In most cases, there’s no depositing or withdrawing crypto. The trade happens directly between two users’ wallets, with limited (if any!) input from a third party.

WapSwap's goal is to bring together the best services as well as constant liquidity so that millions of users can find what they need in one place.

What is WapSwap?

WAP$WAP is an Automated Market Marker (AMM ) protocol that incorporates multi-strategy yield optimizing on Binance Smart Chain (BSC) with low fees/slippage that also provides aggregation through vault compounding, lending, and yield generation for maximum returns. WAP$WAP will potentially create entirely new financial markets, products, and services. An ecosystem of financial applications that is built on top of blockchain networks.

An open-source, permissionless, and transparent financial service ecosystem that is available to everyone and operates without any central authority. The users would maintain full control over their assets and interact with this ecosystem through peer-to-peer (P2P), decentralized applications (apps). WAP$WAP does not rely on institutions such as banks to act as intermediaries, and courts to provide arbitration.

Features of WapSwap

Swapping - Swap refers to exchanging one cryptocurrency you hold for the equivalent value of another cryptocurrency. WapSwap brings numerous benefits when compared to traditional financial services. WAP$WAP uses the AMM model to create liquidity pools of tokens that users can access to swap. When you make a token swap (trade) on the exchange you will pay a 0.25% trading fee which is broken down as follows:

0.18% - Returned to Liquidity Pools in the form of a fee reward for liquidity providers.

0.02% - Sent to the WAP$WAP Treasury.

0.05% - Sent towards $WAP buyback and burn.

Cross-chain Swapping - A cross-chain swap enables trading tokens across different blockchains without using an intermediary party in the process. Trading tokens directly from one blockchain to the other was impossible due to the technological differences between them until WapSwap developed an innovative WAP token that haves power to convert its chain itself with simple burning, minting feature and a highly encrypted code which helps to verify the transaction made on a different chain.
Farming - Yield farming is a way to make more crypto with your crypto. It involves you lending your funds to others through the magic of computer programs called smart contracts.
Staking - A staking pool is a group of coin holders merging their resources to increase their chances of validating blocks and receiving rewards. They combine their staking power and share the rewards proportionally to their contributions to the pool. $WAP” TOKEN Staking involves the locking up of assets to participate in the validation of transactions on proof-of-stake blockchains, with a financial “reward” provided in terms Of different Tokens. This offers a digital asset alternative for yield generation in today's low or negative interest rate environment.
Liquidity Pools - Liquidity is a measure of the ease at which an asset can be converted to another asset without affecting its price. In simple terms, liquidity describes how quickly and easily an asset can be bought or sold. WAP$WAP liquidity pools allow you to provide liquidity by adding your tokens to liquidity pools or “LPs”. As a liquidity provider as you will also be given a reward in the form of trading fees. Whenever someone trades WAP, the trader pays a 0.25% fee, of which 0.18% is added to the liquidity pool of the swap pair they traded on.

How does it work?

Burning - The amount of token to get swapped needs permission to shift on the other specified chain using the ChainSwapToChain() Event.

Interacting - When the event is emitted, a signal transfers to the other chain with the amount specified from the first chain.

Claiming - The amount of token burned from the first chain will need a trigger to the other chain for claiming the tokens.

Minting - When the method is triggered, the ChainSwapClaim() event is emitted along with the minting of the tokens.

Tokonomics

Trading tokens directly from one blockchain to the other was impossible due to the technological differences between them until WapSwap developed an innovative WAP token which haves the power to convert its a chain itself.

Chain Network: BSC, Polygon
Token Name: WapSwap
Token Ticker: WAP
Initial Supply: 1,890,000 WAP
Total Supply: 21,000,000 WAP

Roadmap

Conclusion

WapSwap is going to become a one-stop-station for major DeFi protocols, which means new passive income opportunities and even more tokens in your wallet. Jump on the bandwagon and become one of the early adopters! The first investors will enjoy premium features and more WAP tokens!

WapSwap - The World's First Chain Balancing Token (CBT)

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