Decentralized Finance (DeFi) is currently expanding at a breakneck pace, both in terms of products and users. Uniswap, an Ethereum blockchain token exchange technology, is one of the most important and widely used instruments.
It is difficult for most people to trade tokens on Uniswap because of high gas costs, slow transaction confirmation times, and overlapping liquidity. Many DeFi AMMs have a lot of overlap in their offers on the Ethereum blockchain.
Decentralized Cardano Project Bashoswap is looking to develop an accelerator and native token exchanging platform that would connect early-stage Cardano developers with early adopters, allowing for shared liquidity and a host of other new features to be added to the platform.
One of its goals for its swap protocol as highlighted in their white paper is to have a token swap protocol which will be done by combining deposited Cardano native tokens and ADA into a virtual pair utilizing the AMM technology. Liquidity Providers will also have options of choosing a pool pair to enjoy the best LP fees to facilitate permissionless exchange of tokens with a liquidity/swapping mechanism. When Liquidity Providers burn their LP tokens to extract their pool reserves share, they are entitled to their fee rewards. In exchange for supplying liquidity to pools, liquidity providers will earn extra benefits. $Bash tokens will be used to incentivize the use of crucial pools.
Bashoswap Launchpad, will use Cardano smart contracts, made available by the Alonzo hard fork, to give developers and projects seeking financial support with a transparent, efficient, and completely decentralized fund-raising platform. The Bash native token is at the heart of the project. The Bash token will be used for staking, farming, and governance on the network.
Bashoswap is now running a private sale whitelist for early adopters who want to participate in the initiative. The total number of $Bash tokens created will be 500 million.
Cardano native tokens will be fully supported on the Launchpad, as will a set of powerful DeFi technologies essential to the success of Blockchain companies on the Cardano chain.
Token trades and exchanges on the Cardano blockchain will be made possible using Bashoswap DEX. Bashoswap also aims to launch a mono liquidity pool that would operate Instead of using the regular pool pairs, a single token design for liquidity pools will be introduced.
Join Private Sale Whitelist: https://bit.ly/3BubgvP
Company Name: BashoSwap
Contact Name: Salman Rakhange
Our New Github Organization Pagehttps://t.co/Z3qPzlUsJ5
We will be pushing our Codes as we develop.
We intend to become a 100% Open-sourced project
— Bashoswap (@basho_swap) February 16, 2022