LBank
XT.COM
MuskSwap team, loyal fans of Elon Musk, decided to create a platform dedicated to honoring this man. That platform is MuskSwap.io, a platform with the latest meme cryptocurrency available.
Muskswap.io is a DeFi platform built on Binance Smart Chain. Inheriting values and strengths as well as removing the drawbacks from the other DeFi projects like Uniswap, Sushiswap, 1inch, Pancakeswap, etc, the platform is believed to become one of the most notorious projects in the DeFi world. As can be seen, "decentralization" is the future of cryptocurrency. It secures personal ownership and anonymity in transactions, and contributes to make a closed ecosystem for cryptocurrencies, which are full of shortcomings in the current platforms. With that concept, the core team creates an ecosystem including MuskSwap, Farming & Staking with various benefits.
The protocol that MuskSwap uses is BSC (Binance Smart Chain), which is the most modern protocol which can magically boost the speed of transactions and, at the same time, the other features are extremely versatile. Moreover, BSC transaction cost is much cheaper than another popular protocol – Ethereum network.
How MuskSwap works is by using liquidity pools. They are essentially pools of tokens locked in smart contracts. The contributors to the liquidity group are known as liquidity providers. Anyone can become a liquidity provider by depositing an equivalent value of two tokens into the pool. This enables the users to trade/swap cryptocurrencies.
Q3, 2021
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