CoinSwap Space is the new decentralized exchange on the Binance Smart Chain that provides a suite of DeFi options at an even lower cost than PancakeSwap.
Tallinn, Estonia, May 24 – CoinSwap Space, a suite of DeFi products for BSC, is delighted to be launching new farming pairs on its decentralized exchange today. Currently they are looking for liquidity providers to increase liquidity for these pairs. Users who are adding their capital into liquidity pools at an early stage, will be able to benefit from huge rewards.
For example, when providing liquidity and going for the BNB / ETH pair on CoinSwap then currently it is earning an already impressive 290% APR. However, those contributing to pools containing CoinSwap’s native liquidity pool token, CSS-LP, will benefit from truly astronomical returns. Returns between 1% and an incredible 4% per day are available on these pairs, yielding a total APR of around 825%. This kind of yields won’t last for much longer though, so users looking to benefit from them should act fast.
Another Victory For The Binance Smart Chain
Wednesday of last week saw one of the most monumental days in the history of DeFi. The massive crash in value of many cryptos resulted in some of the highest intensity trading ever seen. The Ethereum network saw traffic like never before, resulting in gas fees as high as an absolutely eye-watering $2,000. As long as the gas fee situation persists on the Ethereum Network, the Binance Smart Chain offers the most accessible way to interact with a DeFi network.
As BSC continues to grow in popularity, more and more projects are moving onto this chain, forming their own DeFi ecosystem. Until now, the most popular DEX on BSC has been PancakeSwap. However, CoinSwap is challenging PancakeSwap by offering even lower trading fees and stronger tokenomics.
Considering that BSC is where users go for the lowest fees, it should be worth noting that CoinSwap can offer transaction fees of just 0.2% as opposed to PancakeSwap’s 0.25%. This will prove attractive as traders look to maximize their profit margins.
However, one of the main reasons CoinSwap might prove more interesting to investors is its more attractive set of tokenomics. Like CAKE tokens on PancakeSwap, CoinSwap’s native token CSS is bought back and burnt when fees are paid on the network. However, unlike CAKE which has no hard cap on the token, CSS has a hard cap of 19,999,999. This makes CSS tokens truly deflationary, and increases the incentive to hold them long term.
To set the mind of would-be investors at ease, CoinSwap is one of the very few platforms that has been audited by Certik already before launch, a market-leading security-focused ranking platform. Certik are experts at analyzing blockchain and hacker resistant smart contract protocols. Using Formal Verification technology, CoinSwap’s protocol was scoured for weak points. CoinSwap’s successful completion of this audit demonstrates the security of their smart contracts.
As the Binance Smart Chain grows, there will be increasing demand for different types of DeFi options. CoinSwap Space aims to offer nothing less than a complete package for entering the DeFi space. With CoinSwap, users have access to yield farming, liquidity pools and smart routing that ensures users get the best rate on their swaps. The DeFi ecosystem on BSC will continue to grow and CoinSwap Space will be a big part of it.