Soku Swap is a completely decentralized cryptocurrency exchange
Decentralized Exchange (DEX) is an exchange that does not depend on third parties to store your money, all user transactions occur automatically and directly between users (peer network). In other words, DEX - decentralized exchange gives users complete control of funds and transactions, eliminating middlemen to avoid the risk of security issues, hackers, fraud. In addition, the taxation or control of funds from decentralized exchanges is very difficult.
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum network and the Binance smart network. 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 obstacle 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 any questions you may have and step-by-step instructions on the screen, anyone can trade. And if you still want to know more, they have classes you can complete for a fee in crypto. You might 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 payments for everyone who has placed liquidity 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 automated liquidity protocol. Soku Swap operates on the Ethereum network as well as the Binance smart chain.
Soku exchange feature
Soku Swap offers users multiple ways to make money. From providing liquidity to trading or using soft loans using term loans. Imagine arbitrating millions of dollars with Pancake Swap or Uniswap using our coins on 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 service comes first. If you have enough of these SOKUs, we may need to provide a parking space in your name.
At Soku Swap, you can transact on the Ethereum network and the Binance smart chain. Ethereum is the largest decentralized network in the blockchain world, so it is impossible to launch an exchange without using it. But there are other problems besides size. The Binance Smart Chain has recently emerged to address this issue. With faster trading 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, all of them. We know it's a headache, but we try to educate the people we know because we care for them. Well, imagine if you could send them links to some free crypto classes, and the more classes they do, the more you will earn both. And don't worry, we'll keep it short and funny. We want to make learning easy and useful 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 be in touch 24 hours a day, so you'll never have a question you can't answer. No matter where you are, there is always someone to help you if you need it.
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 trades.
Problem
One of the most important issues affecting DEX is a lack of liquidity. With wide margins, most of the trades take place on the combined exchange, lack of volume keeps most customers sticking to the unified exchange. Customers of most decentralized exchanges have struggled to keep tabs on the complex DEX stages that anticipate that they will have to learn and finish with stage and collaboration.
Soku Swap offers two unique methods of ensuring liquidity at its establishment:
First, it offers liquidity providers a more ideal action by allowing LP (Liquidity Pool Tokens) holders to stake their LP for additional rewards. The expected rate of return on the Soku Swap makes the other APR rates look like a drop in holders.
Second, by offering you the opportunity to trade with two associations (Ethereum and Binance), and the idea of showing your LP, they duplicate their liquidity considerations and kill any fears that arise from low liquidity considerations.
Soku Swap's easy-to-use interface concludes that anyone can get started by following the basic progress that really guides you.
Soku Swap has decided to bring you free classes to learn crypto and blockchain so you can make educated decisions about your theory.
Exchange creation
SokuFactory.sol is a smart contract where all the magic happens. He creates exchanges for each trading pair on Soku Swap. The public function createPair () allows any user to enforce an exchange contract for an ERC20 or BEP20 token pair that does not already have one. The code below shows how the exchange is carried out.
Lower gas costs
The Soku exchange is designed with gas efficiency in mind. By using AMM smart contracts, we can reduce gas costs by up to 10% over regular exchanges. This gas efficiency is replicated in almost all exchanges between the cryptocurrencies supported on the platform. Soku Swap has a significant reduction in gas consumption compared to chain order book exchanges. And due to higher fees on the ETH network due to the recent massive interest in NFTs, the ability to swap Binance's smart chains allows you to transact at a lower fee.
Increase liquidity
Adding liquidity involves depositing the equivalent value of ETH and ERC20 or BNB and BEP20 tokens into the appropriate exchange contract. Initial liquidity providers determine the initial exchange rate by depositing what they believe is proportional to the value of the coins and tokens. If the initial rate is low, the arbitrage trader will bring the rate to equilibrium at the expense of the initial provider.
Removes liquidity
Liquidity providers can choose to burn their liquidity tokens to make their contribution to the pool. BNB withdrawals are calculated by:
bnbWithdrawn = bnbPool (Burn Amount / Total Amount)
tokensWithdrawn = tokenPool (sumBurned / totalAmount)
BEP20 tokens and BNB tokens are withdrawn according to the prevailing market price, not the rate at the time of investment. This means that some value can be gained or lost due to market fluctuations and arbitrage. Trading fees are added to the liquidity pool without creating new liquidity tokens.
Liquidity token
The Soku Swap Liquidity Token (SOKU LP) represents the provider's contribution to the liquidity pool. These are ERC20 coins or BEP20 tokens, depending on which chain they provide liquidity to. These tokens allow liquidity providers to sell their liquidity or transfer it between accounts without affecting the liquidity in the pool.
Liquidity tokens are printed and sent to the address of the liquidity provider. They represent the provider's contribution to the pool. These tokens are easy to share and can be burned at any time to return a proportional market share to the supplier. The provider keeps deposits in reserve and issues new liquidity tokens.
The BNB sent to the function determines the number of liquidity tokens issued. The formula below calculates the tokens that are printed.
sumMinted = totalAmount (bnbDeposited / bnbPool)
Storing BNB in reserve also requires a deposit with the equivalent value of the BEP20 token. Contributed tokens are calculated using a formula
tokensDeposited = tokenPool (bnbDeposited / bnbPool).
Soku Swap Tokenomics:
Name: SOKU
Base Price: $ 0.88
Blockchain: BSC
Total Tokens: 222,222,222
Symbol: SOKU
Total Tokens Available for Sale: 111,111,111
Type: BEP-20
Purchase Methods: BNB, ETH, BTC, USDT
Softcap: 100,000 SOKU
Hardcap: 1,000,000
Conclusion
Once again, the Soku Swap stage was planned for sellers and performed very well as part of another clever advantage that required guarantees of 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 huge profits, and it may be you.
Information:
Website: https://www.sokuswap.finance/
Twitter: https://twitter.com/SokuSwap
Facebook: https://facebook.com/Soku-Swap-102896308602496
Telegram: https://t.me/sokuswap
Medium: https://sokuswap.medium.com/
YouTube: https://www.youtube.com/channel/UCdJFtg_BmXHhPeCJVgoqF3A
DisCord: https://discord.gg/DgNnfGWbd4
Ann Thread: https://bitcointalk.org/index.php? topic = 5327040.0
Author:
Bitcointalk Username: Krishna Balagita
Telegram Username: @KrishnaBalagita
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2852251
BEP-20 wallet address: 0x317160A75af0104Bc7600791f28cd758aDB71B7a
