This year has been mostly about the DeFi movement. Decentralized Finance or DeFi comprises multiple projects that are being developed on the top of blockchain. The DeFi industry is continuously heading forward and upgrading its basic protocols to meet the fast transaction demands of its users. DeFi has a number of benefits that ensure the convenience and safety of the users. KingSwap is the latest innovation geared to join the DeFi movement and leveling up the competition. It will be listed on Uniswap on October 31. It is a Defi DEX protocol which promises better features in comparison to already in use Uniswap. Uniswap is a popular component of the DeFi ecosystem but complaints emerged about fake tokens and design flaws. New entrant, KingSwap as said will substitute the flaws in Uniswap exchange platform.
What is KingSwap?
KingSwap is the first DeFi DEX project based out of Singapore that to be regulated by industry leaders such as Michael Terpin, Dustan Teo among others. KingSwap is a liquidity pool platform and is one of the creative projects to provide users easy swapping of tokens and add great value for the community. King Token bonus provided by the company in the early stages of their development will allow the users to align incentives for the users by introducing strategies like pool rewards & network effects.
What makes KingSwap different?
KingSwap is a DeFi liquidity pool exchange with additional features like off- ramp fiat conversions and massive reward offerings. KingSwap can be seen as an upgrade of Uniswap. It has announced new blockchain community- oriented features to Uniswap's core design. This should be seen as a strategy to help offer boom early. All transactions, swaps, token exchanges, liquidity provision, on the KingSwap exchange are completely anonymous.
Reduced transaction fees
The reduced transaction fee to 0.25% especially for swappers on KingSwap is its highlight. This is better than 0.3% charged by Uniswap and Sushiswap. KingSwap is more advanced in terms of user- friendly by implementing the absent features that other DEXs do not have. The company is also set to launch its high- yield liquidity platform with extensive staking rewards, fiat conversion and digital collectibles on Uniswap this week.
Massive Rewards
KingSwap is the first DeFi platform to offer a limited edition NFTs that provide owners access to exclusive airdrops. KingSwap NFT are Non-Fungible tokens and thus are not mutually interchangeable. It helps to earn passive income through loyalty rewards issued by the KingSwap project. It has announced the launch of its Hallween-themed NFTs available for purchase on Rarible and OpenSea. KingSwap NFT is offered in three tiers: King Camp, Queen Sparkle and Kinght Lancelot, providing benefits in the form of KING tokens and future airdrops from projects launched through KingSwap DEX of 60%, 30% and 10% respectively. Higher rewards, earning from staking and merchant benefits are also promised by the platform.
Features of Halloween exclusive NFTs
NFTs can be purchased against ETH. Each NFT will be minted within a set period of time. Each NFT is distinct from each other and allows users to level- up and be eligible to get multiple different incentives. Kingswap offers 10,000 KINGS tokens per block to be shared among LPS apart from sharing transaction fees earned from swappers. Rewards are earned in $KING. Similar to SushiSwap, $KING will continue to earn a portion of protocol’s fee even if you do not divide to participate in liquidity provision.
Understanding Roadmap
With the launch of KingSwap for the use of community, users can start redeeming rewards. IDO (Internal DEX Offering) will be launched on October 31. IDO price is fixed at $0.10 per $King. Early holders of KingSwap Halloween- themed NFT also called Cryptoween, become eligible for exclusive airdrops in future.
KingSwap is a next-gen DeFi liquidity pool exchange claiming to provide features better than Uniswap. Only time will prove the claim, but introducing exclusive features more than what current market leader has, will add great value to the DeFi community.
Similar read:
- DeFi pushing Ethereum towards trillion dollars transactions
- Top Blockchain Developments in the Financial Industry
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