What is PolkaSwap?
Polkaswap is decentralized exchange (DEX) that allow user swap token based on Polkadot and Kusama blockchain. Polkaswap known as non-custodial cross-chain automated market maker for interoperable Decentralized finance projects. Sora Network team is behind this project, as they aim to solve problem of existing DEX using Polkadot and its parachains technology. however, Platform will be focusing to execute faster transaction with maintaining lower gas fees.
Similar as other DEX, Polkaswap also provides feature like cross-chain exchange of tokens, listing and creating new assets with user friendly experience for swap, liquidity pool and more. Bridge integration will like to enable Ethereum network-based token with ERC-20 token standard. However, being biggest asset crypto field Bitcoin also tradable on platform by implementing Bitcoin bridge technique.
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Liquidity aggregator algorithm will be very important factor as it allows user to trade against different liquidity points. however, this aggregator will add liquidity from multiple sources that include DEXs, orderbook and other liquidity pool. Project will remain open source, as community can contribute for future development using their own module. Polkaswap has unique liquidity infrastructure that will lower risk of impermanent and solve pair fragmentation issue.
Polkaswap Price Prediction
|Month & Year||PSWAP Price Prediction|
|Based on||Polkadot based DEX|
|All-time high||$0.97 USD|
PSWAP Price Prediction
PSWAP is DEX based utility & governance token of Polkaswap ecosystem. we know DEX based token including UNI, 1inch Token and more who gained huge volume in recent days and investor showing interest on different CEX too. PSWAP also going to have similar response from investor, as of it is listed on Uniswap and later it will be listed on major CEX. PSWAP price could explode after more investor started using Polkaswap platform in future with growing number of Polkadot based project.
Polkaswap will charge 0.3% trading fees per transaction, it will follow same buy back and burn pattern. As newly minted token will be distributed to rewards LPs and liquidity providers. in the beginning 100% burned trading fees and later it gradually goes down to 35% of daily burned token after 5 years.
In just span of 2 days after getting listed on CoinMarketCap and CoinGecko, PSWAP has shown remarkable growth of around 2.8x from its initial price. It listed at price around $0.3 USD on 14th May 2020 and now on 16th May it is trading in the range of $0.75 to $0.85 US Dollars. Looking at the public response and daily trading volume, it looks like price will grow slowly and gradually for next few weeks/months.
But, this is just personal opinion or prediction, you should perform your own research before making any call for investing in cryptocurrencies. We have seen noticeable decline in the trading volume that states investors have sold out PSWAP with decent profit around at 2x to 3x of their investments. This is expected behavior for any new crypto launch in the market, but when people start buying and hodling/staking PSWAP for longer period along with trust then it will result in progressive growth in the price of PSWAP.
Will PSWAP hit $10?
We already seen DEX based token already hit $10 USD, so being top exchange on Polkadot blockchain, PSWAP also hit $10 mark probably after 2021.
Is PolkaSwap a Good Investment?
Consider long term investment.
DeFi market has complete change landscape of blockchain technology and crypto trading. in recent year, most of centralized user are moving to decentralized exchange for various reason including security, privacy and full custody on investment. Uniswap was the first ever decentralized exchange who introduced this concept to crypto world, later more DEX launched targeting different problem. in current situation, we know Gas fee and network congestion is biggest issue for now, as whenever price of Ethereum or number of users increase it start creating more problem. recently, user paid almost $400 dollar gas fees or over $600 for contract transaction that definitely affecting many transactions.
Polkadot known as Ethereum killer, as there are many reasons behind as it outperform in different department as compare to Ethereum. Polkadot is playing huge role by providing them perfect solution for upcoming DeFi project, as every project has their own asset but for their trading their must sole platform to simplifies current issues. Polkaswap will be the key platform for Polkadot or Kusama, parachain, substrate-based asset trading in future.