CoinSwap Space Adds New ETH-BETH Pair to BSC Decentralized Exchange
Full DeFi Product Suite Adds Yet Another Functionality to Its Users As Its Cash Pool Options Continue to Grow
TALLINN, ESTONIA / ACCESSWIRE / July 06, 2021 /CoinSwap space launched a new ETH-BETH pair on its decentralized exchange at 5:00 p.m. CET on July 5. This new pair offers DeFi investors a great way to store their ETH for the long term, earn rewards on it, and not be subject to an impermanent loss. Contributing to the pair will earn rewards in CoinSwap’s native CSS token. The price of the token is $ 5.54 at the time of writing.
This new pair is the latest in a long list of features that have been constantly added to CoinSwap DEX, further increasing the usability of this exciting new project.
CoinSwap Space’s reputation has grown steadily in the first few weeks of its launch. The DeFi product suite launched on the Binance Smart Chain on April 30. This decentralized exchange has drawn particular attention for its ability to offer even lower fees than PancakeSwap, with each transaction costing just 0.2% versus 0.25%. DEX uses the Automated Market Maker (AMM) model which offers its investors the ability to add liquidity to pools and produce farms.
Since then, CoinSwap Space has released a consistent schedule of exciting updates to their project. These updates have included new pairs and new features that make the entire CoinSwap protocol more user-friendly. CoinSwap’s ultimate mission is to make DeFi as accessible as possible to the traditional investor.
BETH is an official tokenized version of ETH that exists as part of the Beacon Chain. The Beacon chain has been launched as the first part of a set of upgrades that will eventually include ETH 2.0, a set of upgrades designed to improve Ethereum’s scalability. Due to the complexity of the upgrades, the deployment took place in several different phases, starting with the beacon chain, which will be at the heart of ETH 2.0 once it is fully operational.
Concretely, what this means for investors is simple. This allows them to add liquidity to a pool that effectively has Ethereum on both sides of the transaction. This means that investors have a place to bet their ETH without worrying about the prospect of a short-lived loss. With the current volatility being shown by the crypto market and the Ethereum market in particular, this gives investors a great place to store ETH for the long term and overcome the potential bear market.
CoinSwap’s native CSS token, which investors will earn by contributing to the ETH-BETH cash pool, has a hard cap. Similar to PancakeSwaps native CAKE token, some CSS tokens are automatically burned during certain user actions. However, unlike the CAKE token, the rigid cap of the CSS token, as well as the burning function make it a deflationary token, potentially constituting a large store of value in the long term.
Another feature that might reassure investors, if they plan to add to CoinSwap’s liquidity pools in the long term, is that CoinSwap is one of the few DEXs to have been audited by Certik already before the launch. Certik is one of the most trusted blockchain security technology companies and offers DeFi smart contract security audits. With its industry-leading formal verification tools, Certik ensures that smart contracts and software meet the highest security standards.
About the CoinSwap space
CoinSwap Space is a DeFi suite of services built on the Binance Smart Chain. It mainly offers a decentralized exchange based on the Automated Market Maker (AMM) model that offers the lowest fees on BSC. CoinSwap users can earn the deflationary CSS token by throwing and cultivating capital. Users also benefit from intelligent routing, ensuring maximum yields and the lowest possible slip.
SOURCE: CoinSwap space
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