What Is Cryptocurrency?
A cryptocurrency is a digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.
Understanding Cryptocurrencies
Cryptocurrencies are digital or virtual currencies underpinned by cryptographic systems. They enable secure online payments without the use of third-party intermediaries. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.
Cryptocurrencies can be mined, purchased from cryptocurrency exchanges, or rewarded for work done on a blockchain. Not all e-commerce sites allow purchases using cryptocurrencies. In fact, cryptocurrencies, even popular ones like Bitcoin, are hardly used for retail transactions. However, cryptocurrency values have made them popular as trading and investing instruments. To a limited extent, they are also used for cross-border transfers.
The decentralized finance (DeFi) industry has been making waves in the crypto space, with more and more people looking to invest in this exciting space. One of the most promising DeFi projects to emerge is PoseiSwap. This decentralized exchange (DEX) is designed to provide users with a faster and more affordable way to trade cryptocurrencies. In this article, we will explore PoseiSwap and its unique features that make it stand out in the crowded DeFi market.
Introducing PoseiSwap
PoseiSwap is a decentralized exchange built on the Ethereum blockchain. It allows users to trade cryptocurrencies without the need for intermediaries like banks or brokers. This is possible because the platform uses smart contracts, which are self-executing contracts that automatically enforce the rules of a trade.
Unlike centralized exchanges, which are run by a company or organization, PoseiSwap is a community-run platform. This means that anyone can participate in the network and contribute to its development.
WHAT IS POSEISWAP?
PoseiSwap is the first Dex on the Nautilus Chain and was created to offer users and project developers the greatest possible trading and liquidity provision experience. Blazing-Fast Liquidity, total anonymity, and safe and seamless trading are all made possible by PoseiSwap, which is powered by Nautilus Layer3 Chain and zk-Technology. By staking LP tokens on the poseiswap platform, users will be able to farm and participate in governance functions including voting for and proposing new pools as well as adjusting protocol parameters. They will also have the option to exchange tokens and offer liquidity to generate yield.
PoseiSwap Decentralized Exchange Features
Automated Market Maker (AMM)
PoseiSwap uses an Automated Market Maker (AMM) model to facilitate trades. This means that there is no order book or central authority that matches buyers and sellers. Instead, users trade directly with the pool of liquidity provided by other users.
The AMM model is made possible through the use of smart contracts. These contracts hold funds in a pool and automatically adjust the price of assets based on supply and demand. This means that users can trade without worrying about finding a counterparty, and they can do so at any time of the day.
Low Fees
One of the most significant advantages of decentralized exchanges is their low fees. PoseiSwap is no exception. The platform charges a nominal fee of 0.3% per trade, which is significantly lower than the fees charged by centralized exchanges.
This is possible because there are no intermediaries involved in the trade, and the platform is community-run. This means that users are not charged for the costs associated with running a centralized exchange.
Liquidity Pools
PoseiSwap's liquidity pools are a crucial part of its decentralized exchange model. Users can contribute to a liquidity pool by depositing cryptocurrencies, which are then used to facilitate trades. In return, users earn a share of the trading fees generated by the pool.
Liquidity pools provide a more efficient way to match buyers and sellers, as they increase the amount of liquidity available on the platform. This, in turn, leads to lower slippage and better prices for users.
User-Friendly Interface
PoseiSwap has a user-friendly interface that makes it easy for users to trade cryptocurrencies. The platform is designed to be intuitive and straightforward, with clear instructions on how to make trades, deposit and withdraw funds, and stake tokens.
Additionally, PoseiSwap has a mobile app that allows users to trade cryptocurrencies on the go. The app is available for both iOS and Android devices, and it provides users with access to all the features available on the desktop version of the platform.
The POSE token will the driving force behind PoseiSwap, the first Layer3 DEX, on Nautilus chain. In this article, we’ll explore how POSE is empowering the Poseiswap ecosystem as well as its users.
What can you do with the POSE token?
- Staking
conversion rate = 2^(lockPeriod), sPOSE = POSE * conversion rate / 16
POSE token holders can lock their tokens into staking from 30 minutes to up to 4 years in order to obtain a POSE derivative token called sPOSE (staked POSE), which is used for voting and other governance activities.
Here is a sample computation table below:
Voting
When staked, the POSE token yields sPOSE, which can be used to vote on DAO proposals within the Poseiswap Ecosystem.Yield Farming
Liquidity Pools have always been the backbone of DeFi, particularly DEXes. These pools provide the resources needed for the swaps, exchanges, and other products to function optimally.
Initially, PoseiSwap will have three mining pools in operation:
LP (Liquidity Providing) Pool: provides the liquidity in Poseiswap and deposits LP (Liquidity Pool) tokens to farm POSE tokens.
POSE Pool: deposits sPOSE tokens to farm POSE tokens.
Fee Sharing Pool: deposits sPOSE tokens to receive ⅙ of the fee generated by swaps.
Over time, a special type of pool called a “Joint Mining Pool” will also be launched.
Joint Mining Pool: for Poseiswap featured token, TOKEN (partner, ecosystem, or IDO), provides liquidity for TOKEN-sPOSE and deposits LP tokens to farm TOKEN and POSE at the same time.
- Referral Program
The Posei Ecosystem has a way of incentivizing loyal followers who would refer their friends to PoseiSwap.
A referrer may earn rewards from swaps, farms, and any interactions made with Poseiswap’s products using their customized referral link.
To be a referrer:
You need to register a nickname to use for the referral link for 100 sPOSE tokens.
For instance, if your preferred nickname is Justin250, your referral link should look something like this: app.poseiswap.com/justin250
Please take note that referral link registration is on a first-come, first-served basis.
How will the tokens be distributed?
Team (20%)
A fifth of the POSE token supply will be allocated to the team with 7-to-30 months of linear vesting, which means they will receive the same amount every month.
Investors (3%)
Of course, PoseiSwap would not have existed without the assistance of the people and companies who worked tirelessly to create the fastest, cheapest, and safest DEX on the Nautilus Chain.
2.5% of this 3% will be distributed over a 7-to-30-month of linear vesting. The final 0.5% will be distributed via a Token Generation Event (TGE).
Validator Airdrop (7%)
Zebec Protocol is one of the biggest partners and contributors to PoseiSwap. For this reason, we allocated 7% of PoseiSwap’s POSE token supply to the holders of the Zebec Node NFT.
A Zebec Node NFT entitles its holder to ZBC rewards and the ability to run a Zebec Chain Validator Node later on.
The early Zebec Node NFT holders will receive 0.35% (with 1-to-6 months of linear vesting), while the new ones will receive 1.05%. (1-to-24 months of linear vesting).
The POSE tokens will be airdropped to their addresses, provided that they have met the conditions outlined here.
The remaining 5.6% will be addressed later on.
Public Sale (5%)
There will be three tiers for the public sale of the POSE tokens:
Tier 1: 0.50% will be unlocked at TGE
Tier 2: 2.50% — 7-to-18 months of linear vesting
Tier 3: 2% — 13-to-36 months of linear vesting
Liquidity Mining (45%)
Certainly, DeFi and its DEXes would not exist without their very foundation, liquidity pools.
The biggest portion of the POSE token supply will be reserved for liquidity mining incentives like rewards to encourage more people to put liquidity on the market, thereby balancing supply and demand and, thus, the price.
Ecosystem (20%)
To sum up, the POSE token is driving PoseiSwap’s decentralized exchange platform. As more traders recognize the value of POSE and join the PoseiSwap community, we can expect to see continued growth and progress in the world of decentralized finance, particularly in Layer3.
In Conclusion
PoseiSwap is an exciting decentralized exchange that provides users with a faster and more affordable way to trade cryptocurrencies. Its unique features, such as the AMM model, low fees, liquidity pools, and user-friendly interface, make it a popular choice among DeFi enthusiasts. As the DeFi industry continues to grow, we can expect to see PoseiSwap play an increasingly important role in the ecosystem.
FOR MORE DETAILS:
Website: https://www.poseiswap.xyz/
Twitter: https://twitter.com/poseiswap
Discord: https://discord.gg/rWdHnb45UG
Medium: https://medium.com/@poseiswap
Telegram: https://t.me/PoseiSwap
PoseiSwap: https://www.poseiswap.xyz/?chain=triton
#POSEISWAP $POSE #DEX ##NAUTILUS #EXCHANGE
Author
AUTHENTICATION PROOF: https://bitcointalk.org/index.php?topic=5448733.msg62177652#msg62177652
Bitcoin username: opcymania
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Telegram username: @opcymania