The upcoming Palm Swap V2, an enhanced decentralized leveraged trading platform, is expected to debut on July 5th.
Palm Swaps, a decentralized exchange (DEX) focused on perpetual futures trading, partners with cryptocurrency market maker Gotbit Hedge Fund in preparation for upcoming liquidity program scheduled for next week bottom.
As part of the collaboration, Gotbit has allocated an undisclosed amount of funds to provide liquidity through the minting and automatic staking of Palm Swap Liquidity Provider (PLP) tokens. The event is scheduled to start on his June 27th for early adopters and his June 29th for all attendees.
Palmswap executive Bernd Stöckl expressed enthusiasm about the upcoming liquidity event, pointing out that Gotbit is well equipped to handle the volume, speed and order management expected during the program.
“The upcoming liquidity event ushers in a new era of fast, efficient, and user-friendly decentralized trading. We are confident in the platform’s ability to handle our expected trading volume, speed and order management,” said Stöckl.
The amount of liquidity Gotbit has provided to Palmswap has not been disclosed, but the market maker and infrastructure provider will provide liquidity to early-stage blockchain projects through its liquidity offering program, which was launched in November 2022. ing. Liquidity can be locked or frozen. Up to 12 months, depending on agreement with the project developer.
Palmswap to distribute 60% of transaction fees to users
According to recent information, press release, Users who stake PLP tokens during the event will earn up to 500% APR (annual rate) and receive additional incentives based on their trading and market activity on Palmswap V2. The upcoming Palm Swap V2, an enhanced decentralized leveraged trading platform, is expected to debut on July 5th.
Palmswap has evolved its services, including earlier this year introducing an alpha mainnet that utilizes a robust Automated Market Maker (AMM) algorithm. However, with the new He V2 on the way, the protocol will provide users with a seamless experience as the network is designed using a synthetic framework to reduce transaction costs and enhance scalability. Aiming to be
Based on the Binance Smart Chain (BSC), the DEX protocol plans to distribute 60% of all transaction fees generated on the platform to PLP holders and stakers. These rewards will be paid out in USDT stablecoins during liquidity events.
PALM Starts Trading From $1
Palmswap also established a rewards program for early minters on July 27th. A total of 25 million PALM (worth over $500,000), the native cryptocurrency of the Palmswap V2 network, will be released and launched on a first-come, first-served basis. It trades at $1.
The minting process for PLP tokens and Palmswap V2 tokens (PALM) involves multiple layers, with each level being accessible once the previous layer is completed.
Palmswap believes that its partnership with Gotbit and the provision of liquidity and the active participation and expansion of the Palmswap user community will drive sustainable growth for Palmswap V2 and facilitate the participation of new Web3 participants. I’m here.
Alex Andryunin, Founder and CEO of Gotbit Hedge Fund, commented on the partnership with the protocol, praising Palm Swap’s unique approach among decentralized trading platforms and its user-friendliness. Praised the company for its commitment to cost-effective, fast and reliable digital asset transactions. .
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Chimamanda is a cryptocurrency enthusiast and an experienced writer focusing on the dynamic world of cryptocurrencies. She entered the industry in her 2019 and has since deepened her interest in the emerging economy. She combines her passion for blockchain her technology with her love for travel and food to bring her fresh and compelling perspective to her own work.