TALLINN, Estonia, July 6, 2021 – CoinSwap Space launched a new ETH-BETH pair on its decentralized exchange at 5pm CET on July 5th. This new pair offers DeFi investors a great way to store their ETH long-term, earn rewards on it, and not be subject to impermanent loss. Contributing to the pair will earn rewards in CoinSwap’s native CSS token. The price of the token is $5.54 at the time of writing.
This new pair is the latest in a long list of features that have been consistently added to the CoinSwap DEX, further increasing the usability of this exciting new project.
CoinSwap Space’s reputation has been growing steadily over these first weeks of their launch. The suite of DeFi products was launched on the Binance Smart Chain on April 30th. This decentralized exchange attracted particular attention for its ability to offer even lower fees than PancakeSwap, each transaction costing a mere 0.2% as opposed to 0.25%. The DEX utilizes the automated market maker (AMM) model which grants its investors the opportunity to add liquidity to pools and to yield farms.
Since then, CoinSwap Space has released a consistent programme of exciting updates to its project. These updates have included new pairs and new features that make the entire CoinSwap protocol more user-friendly. The ultimate mission of CoinSwap is to make DeFi as accessible as possible to the mainstream investor.
BETH is an official tokenized version of ETH that exists as part of the Beacon Chain. The Beacon Chain was launched as the first part of the set of upgrades that will eventually comprise ETH 2.0, a set of upgrades designed to improve Ethereum’s scalability. Due to the complexity of the upgrades the rollout took place over several different phases, starting with the Beacon Chain, which will be at the core of ETH 2.0 once it is fully operational.
In practical terms what this means for investors is simple. It allows them to add liquidity to a pool which effectively has Ethereum on both sides of the transaction. This means that investors have somewhere to stake their ETH without being concerned about the prospect of impermanent loss. With the current volatility that the crypto market and the Ethereum market in particular are showing, this gives investors a great place to store ETH long term and ride out the potential bear market.
CoinSwap’s native CSS token, which investors will earn by contributing to the ETH-BETH liquidity pool, has a hard cap. Similar to PancakeSwaps native CAKE token, some of the CSS tokens are burnt automatically during certain actions by users. However, as opposed to the CAKE token, the hard cap of the CSS token, together with the burning feature makes it a deflationary token, potentially making a great store of value in the long term.
One more feature that might set investors minds at ease, if they are considering adding to CoinSwap’s liquidity pools long term, is that CoinSwap is one of the rare DEX’s that got audited by Certik already before launch. Certik is one of the most trusted blockchain security technology companies and offers security audits of DeFi smart contracts. With their industry-leading Formal Verification Tools, Certik ensures that smart contracts and software meet the highest security standards.
About CoinSwap Space
CoinSwap Space is a suite of DeFi services built on the Binance Smart Chain. It primarily features a decentralized exchange founded on the automated market maker model (AMM) that provides the lowest fees on BSC. CoinSwap users can earn the deflationary CSS token by staking and farming capital. Users also benefit from smart routing, guaranteeing maximum yields and the lowest slippage available.