TALLINN, Estonia, July 6th, 2021 – This July 5th at 5 p.m. CET, a new ETA-BETH pair was launched on CoinSwap Space. The new decentralized exchange on the Binance Smart Chain has been consistently adding new features enabling its users to engage in DeFi and their progress continues.
This new pair, in particular, offers investors a place to store their ETH long-term and earn rewards in CoinSwap’s native CSS token (valued at $6.493 at time of writing). Because ETH and BETH have the same value, this pair is offering investors a great way to invest their ETH and be protected from impermanent loss.
Since their launch on the Binance Smart Chain this April 30th, CoinSwap Space have attracted attention by being able to offer transaction fees lower than that of PancakeSwap. Each transaction on CoinSwap costs just $0.20 which is 20% less than the already low PancakeSwap. Like PancakeSwap, CoinSwap is built on the automated market maker (AMM) model, allowing its users to add liquidity to liquidity pools and by doing so, to take part in yield farming. CoinSwap Space offers a complete suite of DeFi protocols, also allowing its investors to stake and harvest tokens.
The CoinSwap team has been very active releasing new pairs, new features and new options for their DEX. Making DeFi accessible to the average investor is the target and this new pair is one more step in that process.
Because of how drastic the overhaul to ETH 2.0 will be, the steps to realizing the overhaul will be gradual. The Beacon Chain is a proof-of-stake chain that will serve as the initial step in the road from Ethereum to ETH 2.0. BETH is the official tokenized version of ETH that exists on the Beacon Chain and will represent the next stage in evolution of the second biggest blockchain in the business.
Effectively, this means investors can add ETH on either side of the trade in a liquidity pool. The resistance to impermanent loss this offer is a great opportunity for investors who are looking to hold onto their Ethereum long-term. Investors are protected against the ups and downs and the huge long-term swings of the crypto market. This is particularly beneficial if crypto is about to enter a bear market as investors can hold onto their ETH until the next surge while earning interest on it.
Another feature of CoinSwap that might prove beneficial in a bear market is the fact that users will be earning CSS tokens which (unlike CAKE tokens) have a hard cap. In addition to that, a portion of CSS tokens is burnt with every transaction on the CoinSwap DEX. This makes CSS a deflationary token. Over the long-term, as more tokens get burnt, the decrease in overall supply could stabilize the price of CSS, even over a number of years.
Finally, CoinSwap Space is audited by Certik, one of the most trusted blockchain security technology companies. Certik offers security audits of DeFi smart contracts with an industry leading Formal Verification Tool. The audit verifies the security of the smart contracts and software that investors will trust crypto to.
About CoinSwap Space
CoinSwap Space is a suite of DeFi services built on the Binance Smart Chain. It primarily features a decentralized exchange founded on the automated market maker model (AMM) that provides the lowest fees on BSC. CoinSwap users can earn the deflationary CSS token by staking and farming capital. Users also benefit from smart routing, guaranteeing maximum yields and the lowest slippage available.