Klayswap is a complete on-chain instant swap protocol that operates with an on-chain liquidity pool, where liquidity is guaranteed by automated market-making (AMM) mechanisms. It is an on-chain swap service that allows anyone that has any KLAY or KCT-type token cryptocurrency to become a liquidity provider and earn income from transaction fee commissions. In KLAYswap, Ethereum-based tokens (ETH, ORC, DAI, WBTC) can be transferred to the Klaytn ecosystem via Orbit Bridge, a transparent IBC bridge, built on Orbit Chain, to offer yield farming with asset pairings previously unconnected in the decentralized world.
The KSP token is the governance token of the KLAYswap platform. Holders have the responsibility and authority to determine governance agendas in compliance with the protocol related rules and regulations to lead the development of the service. As such, KSP holders directly participate in deciding things like fees, mining distribution, and contracts. Another main utility of KSP is for creating new liquidity pools. A specific amount of KSP must be paid as a pool contract creation fee when a new KCT token pair pool is created on KLAYswap.
The KSP token has a structure in which tokens can be acquired through liquidity mining. KSP is distributed only through liquidity mining in each Genesis block and is distributed as compensation to KLAYswap liquidity providers in proportion of their provided liquidity to the pool total.
The live KLAYswap Protocol price today is $14.87 USD with a 24-hour trading volume of $18,257,222 USD. KLAYswap Protocol is up 0.11% in the last 24 hours. The current CoinMarketCap ranking is #253, with a live market cap of $115,734,753 USD. It has a circulating supply of 7,784,449 KSP coins and a max. supply of 126,141,000 KSP coins.
Promote Ecosystem Participation with Incentives
Utilize KSP as an incentive to motivate liquidity providers, staking/pool-voting participants to enter the KLAYswap Coin ecosystem.
Stabilize and Increase Value by Securing Staking Demand
Stabilize and increase the value of tokens by maximizing token efficiency and securing continuous demand for staking with the KSP Staking System of acquiring Voting Rights.
Determination of Liquidity Pool Mining Distribution Rates
KLAYswap Coin mining distribution rate of pools is determined directly through KSP holders’ voting. The organic, transparent adjustment of KSP distribution creates additional input of liquidity and a positive feedback loop structure within the protocol.
Operation of Decentralized, Transparent Governance.
Key decisions on the protocol are operated in a decentralized form by KSP holders with governance voting authority.
By contributing to the ecosystem through KSP staking and participating in pool voting, you can earn additional KSP rewards and transaction fee rewards.
No Central Operating Party
KLAYswap operates autonomously through various governance participants, such as traders and liquidity providers, rather than a specific central party.
Directly communicating with the smart contracts by connecting a wallet without creating an account or depositing assets to a specific address.
Complete Control over Assets
Executive power and responsibility for the asset are soley the user’s, without the need for any intervention or trust in the transaction process.
Transparency and Security
KLAYswap Coin All transactions are transparent and secure without counter-party risk as it is a trustless on-chain asset exchange.
Diverse Asset Pairs
Assets can be used efficiently because Ethereum-based assets such as ETH, WBTC, DAI as well as Klaytn-based assets can be swapped.
KLAYswap Coin automated market making (AMM) mechanism and liquidity pool-based trading created from a variety of providers allow you to quickly and easily participate in various financial opportunities on Klaytn DeFi.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.