New York, October 6, 2020 (INSIDER MONKEY WIRE)– BullSwap is a decentralized exchange protocol launched on the Ethereum mainnet. Anybody can access BullSwap using web3 and embed BullSwap functionalities within their apps. It’s a 100% on-chain market making, allowing the swap process between ERC20 tokens, as well as ETH to an ERC20 token and vice-versa.
BullSwap is designed to become an easy-to-use exchange, gas efficiency, censorship resistance, and zero rent extraction. It is beneficial for traders and it functions particularly well as a module of other smart contracts which require guaranteed on-chain liquidity.
How does it work?
BullSwap smart contracts hold liquidity reserves of various tokens and trades are fulfilled directly based on these reserves. Each BullSwap pair stores pooled reserves of two assets, provides liquidity for those, keeping the invariant that the product of the reserves can’t decrease.
What makes it so special?
Trading on BullSwap means no deposit, trading fee and no sign-up, just connect your wallet then swap, that’s all! BullSwap is a decentralized trading network that is extremely simple and safe; you’ll never have to put your personal information at risk on any third-party servers. BullSwap is fully decentralized. They have numerous servers in numerous places. This added security to their platform. It is hard to hack into a system with numerous servers spread out worldwide than a centralized system with one central server.
BullSwap does not require conversion fees for operating profit, but rather benefits from improved adoption of the exchange and the number of users grows. BullSwap use less gas than most of DeFi exchanges nowadays such as UniSwap, Bancor, IDEX, EtherDelta, 0X. In BullSwap, liquidity providers will earn the pool’s trading fees when they provide liquidity. More than that, not only liquidity providers, any user can also offer liquidity and earn rewards.
With BullSwap users can connect directly to the exchange using a wallet without exposing their personal information. Users don’t need to provide their personal information, take selfies or do KYC. Any users from any countries or areas in the world can use BullSwap, without any barriers. BullSwap makes it possible not only to place orders for existing cryptocurrencies, but also to create new cryptocurrencies directly in our system. This allows startup projects to provide liquidity, without having to pay high fees to be listed on major exchange platforms. BullSwap charges ZERO listing fee.
In BullSwap, liquidity providers will earn the pool’s trading fees when they provide liquidity. More than that, not only liquidity providers, any user can also offer liquidity and earn rewards in the form of BullSwap token (BVL). 0.25% of all trading volume is distributed proportionally to all liquidity providers.
BullSwap allows any user to directly swap any ERC20 token to another ERC20 token with a single transaction in the blink of an eye. Users deposit an equal amount of fundamental ERC-20 tokens in return for pool tokens. Users identify input/output tokens as they want, also the amounts of the input tokens. BullSwap will calculate the amounts of output tokens the users will receive.
So, what is the purpose of BullSwap token?
BullSwap token (BVL) is created to be used as the main token of the exchange. BVL operate as the economic incentive to incentivize people to participate in the BullSwap ecosystem. The ecosystem was established to make it a convenient deflationary currency that puts stability first in importance. BVL has staking ability and focuses deeply on community governance. BullSwap token holders will be rewarded with 80% of the transaction fee for every transaction paid in BVL. 80% of the transaction fee will be distributed back to token holders based on their balances. This process is used to encourage BullSwap users to keep trading and holding more of BVL tokens.
Conclusion
DeFi is guiding us toward a bright future of cryptocurrency trading. They provide the quickest, simplest and most cost-effective way to exchange ERC20 tokens and provide liquidity. By embracing a P2P network, they can up build marketplaces without intermediary at a worldwide scale.
Link website: https://bullswap.org/
Telegram Group: https://t.me/bullswapexchange
