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New York, NY April 15, 2022 Chain Wire — Swappi, a new AMM-based decentralized exchange (DEX), launched today on Conflux, the only compliant public blockchain network in China. With the launch of Swappi, Conflux users have a new DEX to trade, stake and earn income from their crypto assets. Swappi has already reached a total value locked (TVL) of $25 million at the time of launch.
Swappi is the first-ever DEX to be launched on eSpace, an EVM-compatible smart contract execution environment that enables developers to deploy and run Ethereum-native dApps and smart contracts within the Conflux ecosystem. As an AMM-based DEX, Swappi allows users to trade in a fully decentralized environment without the need to register or create an account, allowing anyone to start trading within seconds.
Deployed on a permissionless Layer 1 blockchain with significantly lower transaction costs compared to other chains like Ethereum, Swappi is able to offer users the lowest fees of any top DEX of 0.25%. At launch, supported assets include Conflux’s native token CFX, ETH, USDT, WBTC, and PPI.
Swappi aims to build the most robust DeFi ecosystem on top of Conflux and plans to expand its offering to provide users with more earning opportunities.
Swappi V1, the current iteration of the DEX, enables the following features:
- Swap – Swap between any two listed token pairs, provided there is sufficient liquidity.
- Liquidity Pools – Add and remove liquidity and get LP tokens.
- Yield Farming – Spend your LP tokens to earn rewards in PPI.
- Stake – Stake your PPI tokens longer to get increased rewards in PPI.
- Playground – Participate in lotteries and prediction markets.
Additionally, on the roadmap, Swappi plans to enable IFOs. DAO voting, dual mining staking pools, stablecoin LP swaps, NFT trading and much more.
Earn PPI tokens
Swappi’s exchange token PPI can be earned through yield farms with highly competitive interest rates, unlocked by staking PPI and LP tokens (Liquidity Pool).
- Stake LP tokens and earn PPI with slightly more exposure to market fluctuations in exchange for higher APYs.
- Increase PPI returns by using more PPI.
- Stake tokens in LP to earn PPI even if a trading pair is not supported on the farms.
- Increase yield farm PPI rewards by locking PPI.
PPIs can also be earned by playing games and participating in trading events, lotteries, and other community activities.
About Swappi
Swappi is a no-custodial platform that allows users to trade directly from their wallet of choice and retain 100% ownership of their crypto. Swappi’s dApps and smart contracts are based on open source software and are also publicly visible for maximum transparency.
Swappi Smart Contracts have been audited by CertiK, the leading security-focused ranking platform for analyzing and monitoring blockchain protocols and DeFi projects.
To stay up to date, follow Swappi on Twitter, Telegram or visit https://swappi.io/.
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