What is Token Swap? TokenSwap is the name given to the process of transferring tokens to a new Blockchain network. As most of the tokens are usually created on the Ethereum Blockchain, the developer team performs the TokenSwap process to migrate to the new blockchain network.
What is Token Swap?
The word TokenSwap has two definitions. Its first definition is the mutual exchange of two cryptocurrencies. The second definition refers to the transition of the project from one blockchain to another and the emerging requirements regarding the exchange of tokens. Therefore, any project may choose to switch to a different blockchain. It is also responsible for providing the investors and users of the project development team with the necessary tools that allow them to exchange their native tokens for a token compatible with the new blockchain network. Thus, we call this process a TokenSwap transaction.
What is the Purpose of the Project?
Tokenswap project aims to be an infrastructure that supports the development of DeFi, token exchange in Defi and the entire blockchain industry, to establish a liquidity center in the decentralized financial sector. The project is designed to reward investors who contribute to TokenSwap liquidity. Shareholders have the right to have a voice in the management with the right to vote and have the right to audit.
DeFi feature, known as decentralized financial transactions, enables peer-to-peer transactions to take place without the intervention of third parties. To perform the operation, users must gain access to the Lightning network. The Lightning network, on the other hand, enables transactions between two blockchains. In addition, the cryptographic hash function of the parties should be used for cross-chain exchange.
Advantages
Both parties are involved in the transaction process without platform intervention, thus greatly reducing the transaction fee. It protects the privacy of users. Investors do not need to stake for crypto assets such as ETH. On the TokenSwap platform, investors can exchange tokens without the need for any KYC (authentication). It performs clearing transactions of crypto assets quickly and for a lower transaction fee.
What is Token Swap? What is a Distribution Plan?
The project provides 5% of the tokens to the community fund, 50% to miners for their contribution to liquidity, 20% to liquidity providers on the UniSwap platform, 17% to TokenSwap shareholders and 8% to the TokenSwap platform. will be distributed to the platform team. The peak supply of Tokenswap reaches 10 million. 5% of this will be pre-segregated for use as community funds. The remaining 95% will be released to the market.
