Place/Date: UK/London - January 15th, 2022 at 11:16 pm UTC · 2 min read
Contact: Panaswap, Source: Panaswap
Excitedly, the Panaswap Protocol announced its Cardano system-based project, a cross-chain automated market maker. Low fees and impressive transaction speed of the Cardano Blockchain are its main strategies to solve most of the hurdles undermining most decentralized finance projects.
$PANA is the project’s native token and is used primarily for powering the Panaswap ecosystem. It can also be used by users to pay trading or transaction fees. The token is also designed to be used as the project’s governance structure.
The Panaswap Protocol requires two steps:
Panaswap users have the opportunity of swapping stablecoins and Cardano-based token with just the click of a button.
As a user, you can generate revenues by staking the $PANA token on the Panaswap Protocol.
Panaswap allows users to generate more revenues by committing their digital assets to a liquidity pool. This is a great opportunity for existing businesses and startups to lend resources from the pool, payable with interest. The interests from such loans are subsequently distributed to everyone with stakes in the liquidity.
Panaswap has established a crypto farm, another revenue-generating opportunity for users to farm the $PANA token.
The Panaswap Protocol doubles as a decentralized automated market maker and crypto exchange. It is built on the Cardano Blockchain primarily for crypto enthusiasts with special interest in transparent and low-fees platforms. It is also a yield optimizer specifically designed to offer liquidity providers nothing but increased capital efficiency.
The project’s primary aim is to improve Cardano native asset’s convenience and accuracy, the rationale behind its flexibility and swap structure.
Panaswap also makes adopting the Cardano ecosystem easy to adopt, thanks to the suite of decentralized finance services it offers.