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KimchiSwap

KimchiSwap (KSWAP) is a completely Decentralized dApp on the Ethereum network. Users can swap, create token markets, add liquidity, stake and earn +2 layer scaling .[1]

KimchiSwap is not a fork of Uniswap nor alike to many other AnySwaps, TrustSwap or any other out there entering the DEX market.[3]

Overview

KimchiSwap is a new fully Decentralized platform to enter the 2020 DeFi Swap and Liquidation Protocol Arena, and no, it is not like other swapping platforms that are entering the DEX market. It is built from the scratch. It does contain a few same basic functionalities and coding methodologies, but what makes it unique is its core coding.[1]

KimchiSwap also enables the developers and entities to build on its API’s and Dapp platform’s UI and code which can assist in extending the reach of their protocol across multiple projects.[2]

Additional benefits to KSWAP stakers/HODLers include a share of the 0.3% transaction fee that KimchiSwap charges, and it is in-line with other swap protocol’s fees. Liquidation providers also receive a share of the fees, which helps create a safer and better platform where everyone benefits together.[2]

The KimchiSwap platform is powered by its own native token, SWAP, an ERC20 token built on the Ethereum Blockchain. It is not built on uniswap code, it is in fact built from the Scratch. The KSWAP token will be used for discounts on services, dividends from staking, and as a governance Token allowing the community to vote on how foundation funds are spent. Staking the tokens at KimchiSwap will allow holders to receive a share of all said fees that are paid in KSWAP. With a maximum total supply of 100M tokens minted and the implementation of staking and deflationary tokenomics, we expect this utility token to offer significant benefits when being used on the KimchiSwap platform.[2]

Features

Privacy

Users can Use their own Wallet and not Compromise their Privacy.

Staking

Not only do liquidity providers enjoy rewards, Users can stake KSWAP coin for staking benefits.

Fast Transaction

Exchange tokens at lightning speed with multi chain support.

Fully Decentralized

The Platform is Fully Decentralized. Users are always in control of their funds.

Layer 2 Scaling

Cheaper and faster transactions utilising layer-2 scaling with reduced slippage.[2]

$KSWAP Token

KimchiSwap has its own token called KSWAP, it is an ERC20 Token which operates on the Ethereum Platform. Interfacing with the ERC20 contract is the KSWAP staking contract. The KSWAP staking contract enables users who are staking KSWAP to receive 25% of the transaction fees for services procured on the KimchiSwap network when paid in KSWAP tokens. The KSWAP Smart Token is an ERC20 token with many capabilities. At its core, the KSWAP token is an upgradable and pausable ERC20 contract that also has the ability to burn tokens.[3]

The KSWAP can be staked and the stakeholder of the tokens Receives 4% Apy as well as the additional benefits from the KimchiSwap fees Structure. KimchiSwap is Charging 0.40% fee of the transaction where as KSWAP Token Holders will receive 0.10% of the Fees share also. This fee is inline with the other swap protocol.[1]

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KimchiSwap

Commit Info

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Edited On

October 4, 2022

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