The Binance Smart Chain has a new decentralized exchange. CoinSwap Space is a suite of DeFi products that allows users to add to liquidity pools, yield farm, and swap tokens for low prices. Currently, CoinSwap is adding new token pairs and offering huge yields for people who will stake their tokens. This is especially true for users staking their token pairs early on.
The largest returns on CoinSwap Space are for pairs involving CoinSwap Space’s native CSS token. Adding liquidity to CSS/BUSD and CSS/BNB pairs will see returns of between 1% and an incredible 4% per day. Annually, these returns can run up to 825% APR. Users can also contribute to other pairs that will yield a slightly smaller return. These include the BNB/ETH pair that is currently earning an already impressive 290% APR. Contributing to the liquidity pools will yield CSS-LP tokens which can, in turn, be farmed. These high yields will only be available for users staking their tokens early so those interested should move fast.
Binance Smart Chain Continues To Grow
Throughout all the recent turmoil in the market, one thing has remained constant. Ethereum gas fees continue to inhibit a lot of DeFi activity on the chain. As long as this kind of problem persists, BSC will offer the most accessible route into DeFI for the mainstream. This is a demographic that CoinSwap Space hopes to capture.
There are more and more DeFi projects moving onto BSC for this very reason, meaning that the BSC DeFi ecosystem is now thriving. Currently, the most popular DEX on BSC is, by far, PancakeSwap. However, CoinSwap Spaces can offer its users many benefits that top those of PancakeSwap.
PancakeSwap is marketed as a low-fee version of UniSwap. Its low fees are probably its most important selling point. It is remarkable then that CoinSwap can offer even lower fees. CoinSwap offers fees of just 0.2% per transaction as opposed to PancakeSwap’s 0.25%. CoinSwap is able to maximize the efficiencies of BSC to ensure that traders have the best margins available. These margins are further improved by CoinSwap’s smart routing that ensures maximum yields and the lowest slippage.
Another key reason this new exchange might prove popular with investors is that its native token is deflationary. CSS tokens are bought back and burnt with fees from each transaction on the exchange. This is very similar to the way buying pressure is maintained on PancakeSwap’s CAKE token. However, unlike CAKE, CSS has a hard cap of only 19,999,999. This means that long-term holders will benefit every time users avail of CoinSwap’s low fees.
Security Audits in place
CoinSwap Space has also received an audit before its launch by Certik, one of the market-leading security-focused ranking services. Certik analyzes the hacker resistance of smart contracts and other blockchain protocols. By using Formal Verification technology, Certik is able to scan any protocol for weak points and potential vulnerabilities that might expose investor capital. CoinSwap’s successful completion of the audit should stand to reassure potential investors of the security of their funds.
DeFi on the Binance Smart Chain will continue to grow. The fees on Ethereum make it inevitable. CoinSwap Space provides a list of products that allow its users to engage in every element of DeFi for the lowest prices around. CoinSwap has every chance to become a major player on the young scene that is BSC.
About CoinSwap Space
CoinSwap Space is a suite of DeFi services built on the Binance Smart Chain. Built around a decentralized exchange that uses the automated market model (AMM), CoinSwap is able to offer some of the lowest trading fees on BSC. Users will utilize smart routing which will guarantee maximum yields and the lowest slippage available. CoinSwap also allows users the ability to farm deflationary CSS tokens by staking and farming capital.