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Swapfolio’s alpha launch in October now provides Uniswap users with the ability to utilize a portfolio manager, personalized price monitoring, trading assistance, and sponsored listings.
Ah, the simpler days of 2016. From security tokens to inappropriately lavish crypto conferences, we can look back at these past things with humor and be overwhelmingly happy that it’s all behind us. One thing that has luckily carried through is the concept of community within the online tech world. From a fundraising perspective as well as the ownership and direction of a project, engaging with online support and figuring out how to reward users has been a more complicated but successful journey within the past year.
Decentralized finance (DeFi) has cultivated a newer crypto audience that brings a balance and engagement that only a more mature industry could properly maintain. One project that has successfully developed concurrently with a strong support base is Swapfolio, a trading and portfolio management tool for DeFi’s most successful platform: Uniswap.
Uniswap is an Ethereum-based decentralized exchange that swaps ERC20 tokens in user-consolidated liquidity pools. In essence, this means any two ERC20 tokens can be seamlessly traded without having to worry about sufficient liquidity on an exchange thanks to their famously straightforward, yet powerful user interface. Swapfolio is a thrilling development because of the unique opportunities they provide to Uniswap’s massive audience.
Uniswap is just the beginning, with supportive applications being developed to help users make more informed trades.
Bloomberg recently called Uniswap the, “most sought-after crypto exchange,” so it’s no surprise that it’s brilliantly simple structure has allowed for projects like Swapfolio to blossom as an auxiliary application. Decentralized exchanges (DEX’s), in case you missed it, are having quite the moment. In September, DEX’s collectively had their third consecutive month of doubling trading volume from the previous month, and Uniswap reported a 128% volume increase in September.
Swapfolio’s alpha launch in October now provides Uniswap users with the ability to utilize a portfolio manager, personalized price monitoring, trading assistance, and sponsored listings. Swapfolio’s Pro features, which will be available later this year, gives users access to limit orders, trade alerts, Uniswap listing alerts, and trade history (with the option to export it for later).
The portfolio manager and personalized price monitoring are perhaps the sexiest aspects of Swapfolio, with an impressive user interface and visual representation of active trades and asset holdings in Uniswap (something that’s not currently available on the platform). Swapfolio also provides trading assistance, where users have one-click access to Uniswap trades for whitelisted pairs to help prevent users from trading on “dummy contracts” – a huge convenience for both the trading experience and a necessary safety measure to protect traders.
Swapfolio’s SWFL token is both a utility and governance token – something that serves the community-oriented platform well.
While sponsored listings sound more like a benefit to Swapfolio, here’s where the community aspect gets interesting: 50% of the advertising sponsor’s fees will go to stakers. Staking, the act of essentially freezing assets to earn rewards in a native token, has absolutely exploded over the past six months. Swapfolio’s staking model allows users to earn SWFL, Swapfolio’s token, through staking their holdings in a non-restrictive model.
Using the Soft Staking dApp, which charges a flat fee of 2.5% for both staking and unstaking, 100% of the fees are distributed to the staking pool which allows loyal supporters of the SWFL token to profit even when there’s stable price movement. The SWFL Soft Staking dApp was actually released ahead of schedule due to the encouragement of the Swapfolio community. The SWFL Staking Fund will release a total of 2.1 million SWFL over a year to stakers as a reward.
According to a recent community AMA, Swapfolio’s main launch is planned for this upcoming December, with new features expected to be released in the meantime. One of the Swapfolio team members, Barry Chen, explained that in the near future, stakers will be able to vote for upcoming additions to the platform. “The community will have the power to decide which direction is the best for the project…” he said. “It’s time to make [DeFi applications] pretty and easy for everyone. As long as it’s good and safe to use, people will continue using it,” added he.