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Polkaswap (PSWAP) is the 1357th largest cryptocurrency in the world by market cap, valued at $56,768,205. The current price of Polkaswap is $0.066531176, which is -0.565% lower than yesterday. Prices have ranged between $0.00282772 and $0.00264817 over the past 24 hours. All prices are listed in US dollars and accurate as of March 25, 2023 10:03 UTC.
Polkaswap is a decentralized cross-chain liquidity aggregator and non-custodial automated market maker (AMM). Marketed as an interoperability solution, Polkaswap was developed using the SORA network - a parachain of the Kusama layer-0 ecosystem.
With the project’s position within both the Kusama and, by association, the Polkadot ecosystems, Polkaswap aims to bridge all of the blockchain projects that are developed with the two layer-0 networks.
According to the project’s website, the protocol can swap digital assets from both the Polkadot and Kusama relay chains, all Polkadot and Kusama parachains, and any other blockchains that connect via a specific bridge. In addition to the Polkadot and Kusama ecosystems, Polkadot can also facilitate exchanges from both Ethereum and Bitcoin thanks to specific bridge technology. All swaps are completed through the protocol’s AMM which can aggregate liquidity from a number of different sources. Thanks to the AMM users can swap tokens by entrusting digital assets to a third-party intermediary.
PSWAP in the native cryptocurrency of the Polkaswap project. The token is primarily used to incentivise the provision of liquidity with the platform. It is rewarded as a bonus to all liquidity providers. In addition to offering rewards, the PSWAP token also facilitates the governance of the Polkaswap platform. All token holders can vote on the future development of the project.
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