ParaSwap is a multi-chain decentralized exchange (DEX) aggregator on the Ethereum blockchain. ParaSwap’s native/management token, PSP, is used to increase the decentralization and efficiency of the protocol. Information about some topics that what is ParaSwap (PSP) coin, how it works, how to buy it, on which exchange, how much is it, etc. is in continuation of the article. You can browse here for information about Calamari Network (KMA) coin.
What is ParaSwap (PSP) coin and how does it work?
ParaSwap is a decentralized middleware aggregator on the Ethereum blockchain that offers the best prices on various DEXs. On ParaSwap, users can see a useful summary of their transactions, including the approximate cost, price impact, and minimum tokens received. Routing details are also displayed to help users understand the path of their token and avoid confusion.
In principle, ParaSwap acts as an intermediary between DeFi users and DeFi services. It compares liquidity from over 20 decentralized exchanges and brings all functions into one portal for maximum user convenience.
How to use PSP token?
ParaSwap’s native/management token, PSP, is used to increase the decentralization and efficiency of the protocol.
Currently, the PSP token has two use cases:
- Governance: PSP owners have governance rights over the ParaSwap protocol through the ParaSwap DAO.
- Staking: Users can stake PSP tokens and automatically receive a compound annual percent yield (APY).
Various big name traders support the ParaSwap protocol. During its last round of seed funding, ParaSwap had the backing of established firms such as CoinFund, Blockchain Capital, and Arrington XRP Capital. ParaSwap’s goal is to be the preferred DEX aggregator on Ethereum and enable the fastest transactions at the best rates. Apart from Ethereum, ParaSwap also supports Polygon, Avalanche and Binance Smart Chain.
Which exchange is PSP coin on?
ParaSwap token is listed on some cryptocurrency exchanges such as MEXC, Bybit, BingX, Gate.io, WOO Network, etc.
How to buy PSP coins?
ParaSwap coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.
PSP token supply!
Total and maximum supply of ParaSwap token is 2.000.000.000 PSP.
PSP token price!
As of November 8, 2022, at the time of the writing, 1 ParaSwap coin price is around $0,03622 (because of the volatility on crypto market the price can change instantly).
Caution: The information contained in this content is for general informational purposes only. It is not investment advice.
For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency