Wednesday, 14 September 2022 01:30 PM
Company Update
DUBAI, UAE / ACCESSWIRE / September 14, 2022 / Palmswap, the perpetual DEX based on Binance Smart Chain (BSC), will hold a community fair launch for its native PALM token between Sept. 20-23, with 100 million tokens.
For the launch, funds will be collected in a pool for three days. The average token price will be determined based on the total amount collected, and each participant will receive the same price regardless of the size or duration of their deposit in the pool.
Palmswap is building an ecosystem of DeFi products, each designed to fill a gap in the existing market and address real problems in the sector, including:
- High slippage - Most DEXes use AMM for price discovery, which requires liquidity many small-cap altcoins are lacking. This makes it difficult to execute trades without significant slippage. Palmswap's proprietary pricing model, dynamic vAMM (dvamm), recalibrates the liquidity of a trading pool based on demand, resulting in better capital efficiency and lower slippage.
- Inadequate tool support - Most DEXes don't offer tools like order types, which are essential in perpetual trading as users don't want to open a position without the ability to place a stop loss or take a profit order. Palmswap offers a variety of on-chain order types, including limit orders, take profit, stop loss, conditional orders, and trailing stops. This abundance of options makes the DEX more user-friendly for both individual and institutional traders.
- High costs - DEXes built on Ethereum impose high transaction fees on users wishing to trade. Palmswap uses BSC to offer a cost-effective legacy alternative and to optimize the on-chain trading experience.
Palmswap's ultimate goal is to become the most accessible, safest, and most reliable perpetual DEX on BSC. PALM, its native governance token, incentivizes users to participate in the ecosystem with options like trading rewards, staking, and farming, as well as giving them a voice in the protocol's future.
About Palmswap
Palmswap is building the future of decentralized perpetuals. The protocol allows users to trade with up to 10x leverage on cryptocurrency price speculations with long and short positions. Palmswap provides a decentralized alternative to perpetual future exchanges like Bitmex, Bybit, FTX, Binance, and others. Palmswap is the first DEX with 100% on-chain order types, affiliate programs, and unique token use cases. Users don't have to register, KYC, and remain in complete control of their assets at all times. Users trade with very low transaction fees through BSC and have the same trading tools as on central exchanges.
Media Contact:
Alex England
Energent Media
[email protected]
SOURCE: Palmswap