KimchiSwap is a new fully decentralized platform to enter the 2020 DeFi Swap and Liquidation Protocol Arena, and no, it is not like other swapping platforms that are entering the DEX market. It is built from the scratch. It does contain a few same basic functionalities and coding methodologies, but what makes it unique is its core coding.
Much like Uniswap, KimchiSwap also enables the developers and entities to build on its API’s and dApp platform’s UI and code which can assist in extending the reach of their protocol across multiple projects.
Additional benefits to KSWAP stakers/HODLers include a share of the 0.3% transaction fee that KimchiSwap charges, and it is in-line with other swap protocol’s fees. Liquidation providers also receive a share of the fees, which helps create a safer and better platform where everyone benefits together.
Who doesn’t want a multi-functional Decentralized Protocol? – No one! So gear up to welcome KimchiSwap, which is an all-in-one platform for staking, swapping, adding liquidation and creating markets.
WHAT MAKES KIMCHISWAP SPECIAL?
Simply put: Ability for everyone to create markets, layer 2 scaling, own token, Non-Custodial wallet connection, and No KYC make KimchiSwap a unique option for a completely decentralized experience.
KimchiSwap allows anyone to create markets and they also plan to initiate an escrowed funds add-on to bring yet another layer of trust to the markets. KimchiSwap also offers a volume based listing unlock feature where market creators can add their own logo and links to their official mediums.
Moreover, KimchiSwap offers layer 2 scaling for a higher-level swapping experience, faster transaction speeds and reduced fees compared to other swap protocols.
You must be thinking this platform has very noticeable features? Well, you will be glad to know that there’s still more: This protocol has its own KSWAP token, and users can stake this token to receive additional benefits from the KimchiSwap platform and enjoy 4% APY.
KimchiSwap is designed in a similar style as the Uniswap DApp and other Swaps UI’s to facilitate easier adoption. It builds a same/similar protocol for automated token exchange on Ethereum with roadmap milestones for multi-chains in V2 or V3. (EOS, OMNI, and Xdai are currently under consideration).
KimchiSwap’s DApp Abstract is a formalised model which allows the pooling of liquidity reserves and an open source front-end interface for liquidity providers and traders.
This platform also features an additional smart contract which gives token holders the ability to share in the fees as the liquidity providers receive it.
Users can earn:
By now, everyone will be convinced that KimchiSwap is loaded with some ground-breaking features that have the potential to revolutionize the DeFi Swap and Liquidation Protocol Arena.
It is expected to arrive real soon but currently, limited KSWAP Tokens are available as part of their ‘VIP website sale’ for all clients. The majority of capital raised through this sale will be used to support the continued improvement of the KimchiSwap Ecosystem.
For any other information or related updates on KimchiSwap, you can visit their official website: https://kimchiswap.io/ or join them on their social media accounts.
**DISCLAIMER: Kimchiswap is not affiliated to the recently launched ‘Kimchi Finance’ in any way.