Introduction to Soku Swap | Launch of ICO
Catering to both the Ethereum and Binance communities, Soku Swap is a decentralized exchange that accommodates the needs of the ever-evolving cryptocurrency community.
To effectively manage the liquidity pools, Soku Swap leverages Automated Market Maker or AMM. The AMM is a collection of well-defined and complex smart contracts that maintain the equilibrium of the digital money market and provides an efficient trading ecosystem.
Soku Swap creates such liquidity pools for both ERC20 and BEP20 tokens. Therefore, considering the underlying technological concept behind the two, Soku Swap offers a unique choice to the end-users of completing a trade either algorithmically or using the order book mechanism.
These liquidity pools allow users to become liquidity providers and earn significant yields. Apart from this, the platform also offers the possibility of arbitrage using flash loans in a seamless way.
Why Soku Swap
What makes Soku Swap the choice of the crypto community is the fact that it addresses the most important pain point which is the high gas fee in the ecosystem. Gas efficiency is one of the core components of Soku Swap achieved through the use of optimized AMM smart contracts. This allows Soku Swap to provide a 10% lower gas fee as compared to other exchanges. This gas efficiency is shared by all the platform-supported cryptocurrencies that can be swapped.The addition of the Binance Smart Chain for making swaps makes it even more gas-friendly. Even in the current market flooded with NFT trades, Soku Swap allows users to enjoy low gas fees for their transactions.
The liquidity of the user in the Soku Swap pools is managed through SOKU LP, the liquidity tokens issued by the platform. In essence, these tokens represent the liquidity of the user in the Soku pools. If the user stakes on Ethereum, they will receive ERC20 type SOKU LP tokens and for the users providing liquidity on Binance Smart Chain, the token is of BEP20 type.
The purpose of having Liquidity Tokens is to provide further liquidity to the users as they can use these tokens to perform various financial activities without actually taking their liquidity out of the liquidity pools. This helps in two ways:
a. It allows users to gain interest on their staked amount while still being able to use the liquidity through the tokens issued
b. It will maintain the liquidity of the protocol.
The platform creates a truly decentralized environment through the availability of SOKU, the governance token that allows the Soku Swap platform to be truly decentralized. Anyone holding SOKU will be allowed to vote in critical decisions of the protocol such as upgrades or the future of exchange.
Furthermore, for the loyal or constant users who stake SOKU LP and complete a few trades on the exchange each week, a small portion of the trading volume will be allocated to them. This acts as an incentivization model of the platform. With the growth of the exchange, the loyal users of the platform will also enjoy growth in their profits with the added trust of a truly decentralized environment.
Features of Soku Swap
- Support for both Ethereum and Binance ecosystem
- No hefty KYC process compromising your privacy, simply connect your wallet and start trading.
- 24-hour live on-screen chat for better customer support in the DeFi ecosystem.
- Crypto awareness and education to help develop a deeper understanding.
- Authenticated token scores calculated based on critical factors, providing a safe environment.
- Governance token to enable true decentralization.
- Availability of swap boxes for today’s busy lifestyle.
- Possibility of making arbitrage trades with easy-to-use flash loans.
To participate in the upcoming ICO from May 3rd to May 7th and learn more about Soku Swap’s plans, team, goals, visit the website at https://sokuswap.finance
