You’ll soon be able to trade from one wallet, one DEX but on both the Ethereum Network and the Binance Smart Chain- All courtesy of Soku Swap Exchange.
The Soku Swap Exchange team is delighted to introduce to you a unique decentralized exchange that allows you to trade on both the Ethereum Network and the Binance Smart Chain. The team has been very busy with building a platform that would not only solve the endemic problem of being down right confused on how to use a DEX, but also how we could make learning to trade fun, easy and profitable.
So what is Soku Swap?
Soku Swap is a decentralized exchange (DEX) hosted on Ethereum Network and the Binance Smart Chain. The DEX uses automated market maker smart contracts to create liquidity pools of both ERC-20 tokens and BEP-20 tokens. The features allow users to trade using an algorithm versus an order book used on conventional exchanges.
Soku Swap employs a special formula to ensure reserves stay in relative equilibrium. And where do the reserves come from? The reserves are pooled among liquidity providers who supply the exchange with tokens in exchange for a share of the transaction fee. The platform, therefore, utilizes registry contracts to facilitate exchange between different currencies.
Unlike centralized exchanges, Soku Swap does not require you to identify yourself with creepy personal identification demands like name, physical address, date of birth, social security number, blood type, DNA samples, you name it. As a DEX, Soku Swap stands behind the principle of decentralization so they ensure your details are not accessed by anyone, not even them.
Why Soku Swap is likely to be the dark horse aiming for the crown among the DEX platforms
Close your eyes and begin to imagine trading your crypto tokens from one wallet, on one DEX, but more amazingly, on both the Ethereum Network and the Binance Smart Chain!
Well, now stop imagining because you can do just that with Soku Swap. Once we are done here, your mind will be blown away learning about this unique new DEX promising to revolutionize the Decentralized Exchange industry.
But to understand where the Soku Swap team is coming from, let’s first look at the concept behind the creation of Decentralized Exchanges.
Decentralized Exchanges (DEXs) allow users to execute peer-to-peer transactions without the need for a third party or an intermediary. The centralized exchanges users have for many years complained about challenges associated with such platforms, including the high risk of hacking, market manipulation, and lack of anonymity. The DEXs were meant to solve these problems, and help users trade with more anonymity, security, and surety that no one would breach the system to manipulate the token prices.
1. Soku Swap is solving the liquidity issues among the DEXs
One of the main issues affecting DEXs is the lack of liquidity. With the vast majority of transactions taking place on centralized exchanges, the lack of volume makes make most users stick to centralized exchanges.
How is Soku Swap solving the liquidity issue?
Soku Swap offers two ways of ensuring liquidity on its platform.
First, it offers better deals to liquidity providers by allowing LP(Liquidity Pool Tokens) holders to stake their LP for an extra bonus. The yield rates expected on Soku Swap make other APR rates look like a drop in a bucket.
Second, by offering you the opportunity to make trades with two networks (Ethereum and Binance), and the proposition of staking your LP, they are doubling their liquidity value and eliminating any fear that should come from ideas of low liquidity.
In summary, the Soku Swap platform is designed for traders and performs exceptionally well as a component of other smart contracts that require guaranteed on-chain liquidity.
2. Easy-to-use platform
Users of most decentralized exchanges have struggled to deal with complex DEX platforms that require them to learn and get familiar with the platform and the process.
Soku Swap Exchange has developed a system to solve this problem. The easy-to-use Soku Swap interface means anyone can get started by following the easy steps that the platform actually walks you through.
3. Not Just a Trader, But a Trader/Owner
Trading on Soku Swap may be fun and lucrative with high earning potential, but nothing comes close to the possibility of making you (the trader) part owner.
Yes, with the Soku Swap governance token, you can help decide the future of the exchange. Who doesn’t want to be part of a bigger decision-making process? I guess no one. What’s even more interesting is that if you make a few trades each week you’ll also get a small portion of the trading volume. Your payments grow as the exchange does, and gives you an interest on the performance.
4. Free Crypto classes for all
Have you ever been in a situation where you needed explain crypto to someone? Most certainly you have. Yes, cryptocurrency and Blockchain technology is a headache to many people. A recent survey revealed that 1 in 3 crypto investors know little to nothing about cryptocurrency.
To help you out, Soku Swap has decided to offer free classes to learn crypto and blockchain so you can make informed decisions about your investments. We have created a system where all you need to do is send a link to a friend to our free crypto classes. The beauty of this, is that you earn every time your referral attends class. The short and fun classes are great because our goal is to make learning crypto as easy as learning your ABC’s.
5. Live Onscreen Support
Lastly, one of the major issues in the crypto world, is insufficient or lack of customer service. Soku Swap is fixing the issue with a one-of-its-kind live Onscreen Chat. The support is expected to run 24/7 to ensure that all your questions will be answered promptly.
With the token sale coming up in the next few days, it’s the right time to jump on board and reap the amazing benefits that Soku Swap is offering. It’s also amazing how the Soku Swap team has stayed transparent in its project progress, which makes them more trustworthy. There is every chance that early adopters will reap big, and that could be you!