Place/Date: - March 10th, 2022 at 3:55 pm UTC · 3 min read
Contact: Bashoswap, Source: Bashoswap
Bashoswap, a Cardano-based project, announces the launch of its innovative features development as the ecosystem begins the private sale of its native token $BASH.
Bashoswap intends to provide an IDO launchpad and a decentralized exchange platform to help link Cardano developers and early community members of the ecosystem, allowing for pooled liquidity and the addition of various unique features to the platform.
Bashoswap’s key features are the IDO launchpad and the DEX platform. Bashoswap intends to launch a scalable IDO launchpad on the Cardano network. As a result, members of the Bashoswap community would be able to invest in and trade high-potential DeFi projects.
Bashoswap observed the difficulties that most individuals face while attempting to trade tokens on Uniswap due to high gas costs, slow transaction confirmation times and overlapping liquidity. As a result, the ecosystem uses Cardano’s scalability to build highly effective decentralized solutions.
According to its whitepaper, Bashoswap’s IDO launchpad would help provide liquidity to innovative blockchain projects finding it difficult to raise funds by connecting them to a dedicated and passionate community. It is also important to note that 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.
Also, as stated in Bashoswap’s whitepaper, one of the goals of the Bashoswap project is to have a token swap protocol, which will be accomplished by combining deposited Cardano native tokens and ADA into a virtual pair using AMM technology. Furthermore, Liquidity Providers will be able to select a pool pair to enjoy the best LP fees to support the permissionless exchange of tokens via a liquidity/swapping mechanism.
The entire ecosystem is powered by $BASH, the native token of the Bashoswap ecosystem. The BASH token will be used on the network for staking, farming, and governance. The platform governance is structured in such a way that the Bashoswap community can administer and manage the ecosystem by voting on crucial business decisions.
It should be noted that the project is currently conducting its private sale whitelist for early adopters and community members. During the private sale, Bashoswap aims to issue 100,000,000 BASH tokens or around 20% of the total supply of BASH tokens.
The project appears to be getting significant traction in terms of demand during its ongoing private sale as over 1300 participants have signed up on the private sale whitelist.