Hi everyone… Here I'm going to let you know by writing a review to introduce a very unique new project called Soku Swap , so for that have a look at the article I created below to give you an excellent overview of this project. , then What's in it for everyone? Let's just go straight to the discussion below.
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum network and the Binance smart chain. DEX uses automated smart contracts from market makers to create a liquidity pool for ERC-20 tokens and BEP-20 tokens. These features allow users to trade using algorithms rather than the order books used on conventional exchanges.
Knowing that the biggest barrier to entry was a lack of education and knowledge about how to trade cryptocurrency, they decided to focus on it. With an on-screen chat feature to answer all your questions and step-by-step on-screen instructions, anyone can chat. And if you still want to learn more, they have courses you can complete for a fee in crypto. You can even get paid to send people to class.
Soku Swap also has several benefits, such as allowing users to make decisions about the future of DEX using our governance token. And we even have weekly payouts for anyone who has placed cash and made 3 trades per week.
What is Soku Swap?
Soku Swap is a fully decentralized cryptocurrency exchange that uses a relatively new type of trading model called an Automatic Liquidity Protocol. Soku Swap works on the Ethereum network as well as the Binance smart chain.
Soku Swap feature
Soku Swap offers users multiple ways to make money. From providing liquidity to negotiating or using soft loans using term loans. Imagine creating a multimillion dollar arbitration deal with Pancake Swap or Uniswap using our coins in our easy-to-use flash credit system.
With SOKU, our governance token, you can help define the future of the exchange. And if you do a lot of trades each week, you also get a fraction of the trading volume. The more the exchange grows, the more your payout will be. In addition, you can decide which services to give priority. If you have enough of these SOKUs, we may need to provide a parking space in your name.
At Soku Swap, you can make transactions on the Ethereum network and the Binance smart chain. Ethereum is the largest decentralized network in the blockchain world, so it is impossible to start an exchange without using it. But with size, there are other problems. The Binance Smart Chain has recently emerged to help solve this problem. With faster transactions and lower fees, Binance is definitely worth a look. We believe both are important and we want our users to be able to transact wherever they want.
Have you ever tried explaining cryptocurrency to someone? I sure do, everyone else does. We know it's a puzzle, but we try to educate the people we know because we care about them. Imagine if you could link them to several free crypto classes, and the more they do, the more you will earn both. And don't worry, we'll keep it short and fun. We want to make learning easy and profitable for everyone.
What do people really hate about crypto exchanges? Is this a major drawback in customer service? I know this is one of the main complaints from our team. So we decided to fix it. We'll chat 24 hours a day so you'll never have a question you can't answer. No matter where you are, there is always someone just a click away to help you if you need them.
Centralized exchanges require all customers to complete a self-identification form. You have to enter your name, date of birth, social security, blood type, DNA sample. Cryptocurrency was born as a decentralized currency that cannot be controlled and tracked. With DEX freedom, you only need to connect your wallet and make transactions.
What is a Decentralized Exchange (DEX)?
A decentralized exchange is a type of cryptocurrency exchange that allows direct peer-to-peer digital currency transactions to be carried out online securely and without the need for intermediaries.
The advantages of DEX
No KYC - KYC / AML compliance is the norm on many exchanges. For regulatory reasons, individuals must frequently submit identity documentation and proof of address. This is a privacy issue for some and an accessibility issue for others. What if you don't have valid documents? What if the information gets leaked? Since DEX is unlicensed, no one checks your identity. All you need is a cryptocurrency wallet.
No Counterparty Risk - The main attraction of decentralized cryptocurrency exchanges is that they don't hold customer funds.
Unlisted Tokens - Tokens that are not listed on a centralized exchange can still be traded freely on DEX, provided there is supply and demand
Make an exchange
SokuFactory.sol is a smart contract where all the magic happens. This creates an exchange for each trading pair on Soku Swap. The public function createPair () allows any user to enforce an exchange contract for any ERC20 or BEP20 token pair that does not already have one. The code below shows how the exchange is executed.
Lower fuel costs
Soku's Exchange is designed with gas efficiency at its core. By using AMM smart contracts, we can reduce gas costs by up to 10% from normal trading. This gas efficiency is replicated in almost all cryptocurrency exchanges supported on the platform. Soku Swap has a significant reduction in gas compared to on-chain order book exchanges. And due to higher fees on the ETH network due to the recent and massive interest in NFTs, the ability to swap on the Binance Smart Chain allows you to trade at a lower fee.
Add liquidity
Adding liquidity involves placing the equivalent value of ETH & ERC20 or BNB & BEP20 tokens in the associated swap contract. Initial liquidity providers determine the initial exchange rate by depositing what they think is proportional to the value of the coins and tokens. If the initial rate is low, the arbitrage trader will break even at the expense of the initial provider.
Liquidity emphasis
Liquidity providers can choose to burn their liquidity tokens to withdraw their contribution from the pool. BNB withdrawals are calculated by:
BEP20 tokens and BNB tokens are withdrawn based on the prevailing market rate, not the exchange rate at the time of investment. This implies that some value can be gained or lost due to market fluctuations and arbitrage. Fees charged on transactions are added to the liquidity pool without creating new liquidity tokens.
Liquidity token
The Soku Swap (SOKU LP) liquidity token represents the provider's contribution to the liquidity pool. These are ERC20 coins or BEP20 tokens, depending on which channel they provide cash with. These tokens allow liquidity providers to sell their liquidity or transfer it between accounts without affecting the liquidity of the pool.
Liquidity tokens are printed and sent to the address of the liquidity provider. They represent the supplier's contribution to a pool. These tokens are highly divisible and can be burned at any time to return a proportionate share of the market to the supplier. Suppliers deposit into reserves and get new liquidity tokens.
The BNB sent to the function determines the number of liquidity tokens to be printed. The formula below calculates the token that is generated
sumMinted = totalAmount (bnbDeposited / bnbPool)
Storing BNB in reserve also requires a deposit with a value equivalent to the BEP20 token. Stored tokens are calculated by formula
Supply: 222,222,222 Symbol: SOKU Total Tokens Available for Sale: 111,111,111 Type: BEP-20 Purchase Method: BNB, ETH, BTC, USDT Softcap: 100,000 SOKU Hardcap: 1,000,000
Conclusion Again, the Soku Swap stage was planned for sellers and performed very well as part of another clever advantage that required guaranteed on-chain liquidity. With a representative arrangement a few days in advance, this is the ideal opportunity to take part and get the amazing prizes that Soku Swap needs to bring to the table. It's surprising how the Soku Swap group has stayed up-to-date on the progress of their venture, which makes them more reliable overall. It is possible that early adopters will garner a large profit,
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