A Decentralized Exchange
EssentialSwap is a one stop solution for Decentralized Finance (DeFi). The platform will support tokens on Smart Chain (BSC) to start, and plan to add more blockchains in the future.
EssentialSwap is a decentralized exchange running on Smart Chain which offers a platform for anyone to swap cryptocurrencies. The swap will be integrated with the Launchpad to provide liquidity for the tokens wanting to list. It will also support other tokens/projects who want to provide the liquidity for trading, staking and farming.
EssentialSwap is a type of decentralized exchange called an automated market maker (AMM). It lets users trade cryptocurrency tokens, but there's no central authority managing trades. Instead, EssentialSwap automatically sets prices with mathematical formulas and processes trades using smart contracts. The swap will have its own Router and MasterChef contract for the operation of Liquidity pools and Liquidity Tokens (SLP tokens), staking, and farming.
There are several things you can do on EssentialSwap :
- Swap: Trade one cryptocurrency for another, such as turning your USD Coin (BUSD) into BNB.
- Farm: Deposit crypto into one of EssentialSwap's liquidity pools to earn rewards. Liquidity pools contain combinations of two or more cryptocurrencies, and you must deposit an equal amount of each one.
- Stake: Deposit your Essence tokens to earn rewards.
- Lend: Provide crypto for others to borrow and earn interest on it.
- Borrow: Borrow crypto after providing collateral.
Essence will be the liquidity token used for EssentialSwap.
The swap brings the revenue to the ecosystem in following ways,
- Trading fees
- Staking and Farming fees