123swap is a peer-to-peer atomic cross-network crypto-asset swapping platform that eliminates the need to trust a custodian or counterparty. 123swap is a prominent crypto swap protocol for the Smart Economy that allows users to swap, hold, send, receive, earn, and invest their favourite assets across many chains.
The platform aspires to build a strong-handed community. Members of the community will make critical decisions such as whether team tokens or advisory tokens should be used, lock duration, and so on, using a proper voting system.
According to Tokeninsight’s Cryptocurrency Derivatives Exchange Industry Report from July, the cryptocurrency derivatives market’s trading volume for the second quarter of 2020 was $2.159 billion.
trillion, based on information from 42 different exchanges. This represents a 2.57 per cent increase.
from the prior quarter and a huge 165.56 per cent growth year over year
% from the second quarter of 2019, demonstrating just how stratospheric the situation has become.
Over the previous year, crypto-derivatives have grown in popularity. And the market is only getting started.
As a result, the recent explosion in the market for cryptocurrency futures is projected to increase demand for token swaps. One of two things can be referred to as a token swap:
- A particular exchange service facilitates the direct exchange of a set quantity of one cryptocurrency token for another between customers.
- A cryptocurrency token established on one blockchain platform is moved to another blockchain platform.
Drivers of Token Swaps
Have you ever wondered how many different cryptocurrencies there are? Several hundred? Perhaps a thousand? According to CoinMarketCap, it has surpassed $5,000.
With so many options, traders may easily try out another cryptocurrency by executing a swap.
Traders’ decisions are influenced by the following factors:
Profiting -> Portfolio Diversification -> Passive Income
- Traders make a lot of money trading cryptocurrencies because their value fluctuates so frequently.
- As a result, traders who can time the market perfectly can make a lot of money by swapping their crypto at the right time.
- However, not all traders appreciate the frequent price adjustments.
- Diversification is commonly seen as a risk-mitigation strategy.
- Having a small amount of a variety of cryptocurrencies can assist traders to mitigate the effects of price declines.
- Staking is a feature of several crypto assets that allows traders to earn extra cryptocurrency without having to do anything else.
Users can choose from one of the 500+ cross-chain liquidity pools (Ethereum, Binance, Polkadot, and many others). The site supports the most popular protocols and displays real-time rates, the lowest fees, and the highest annual percentage yield (Annual Percentage Yield).
The platform’s following features will enable 123swap to differentiate out from other Defi platforms:
- Simple & Userfriendly` Interface
- Unchanged Rate during the Transactions
- No Hidden Fees
- Variety of Assets
The platform enables non-custodial services with the highest levels of security, simplicity, and convenience. It allows users to see all of the swaps offers gathered from major crypto exchanges in one convenient location.
The manual swapping operation is inefficient and time-consuming. Using smart contracts, the platform will automate and speed up the switching process.
It will combine smart and autonomous finance management together in one place thanks to its cross-chain smart contracts. Using smart contracts, the platform will support decentralized finance management.
More info at https://123swap.finance/