ZUG, SWITZERLAND / ACCESSWIRE / December 22, 2021 / Palmswap, the first decentralized perpetual trading platform on BSC, has announced that its testnet launch is going to take place on Jan 15 2022, with a 1 million token airdrop event to its participants. Their whitelist event Starts on 7th January 2022.
As a Switzerland-based Defi project, Palmswap aims to enable cheap perpetual trading through the Binance Smart Chain(BSC) network. For many traders, trading on the Ethereum network is nearly impossible especially for users from developing countries due to the high transaction fees.
However, Palmswap is committed to solving this issue by providing users the lowest transaction fee rates by deploying on Binance chain, it hopes to bring the best accessibility and usability of decentralized perpetual platforms to users globally.
Uniswap has established the decentralized spot market, Pancakeswap recognized the market gap on the BSC and by now, has even overtaken Uniswap in terms of traffic with 24.58M page views compared to Uni with 9.7M page views by more than 50%.
On the Ethereum network, there are pioneers like dydx, which have proven the demand for this market. Therefore, BSC- based Palmswap's future theoretically is very likely compared to the pioneers from the decentralized spot market.
What is Perpetual contracts Trading?
Perpetual contracts are a type of derivative trading product brought to the market by Bitmex. Through perpetual, traders can speculate the future price trends of an asset by using leverage either by buying (going long) or by selling (going short).
How Palmswap different?
Palmswap is confident to not only offer perpetual trading in a decentralized way on the same level without differences compared to centralized pioneers, but also users can receive free tokens through trading with Palmswap. And anyone can interact with Plamswap just simply connecting their wallets to the decentralized perpetual exchange. Their roadmap shows their unique plans like launching decentralized hedge fonds where trader will be able to trade for their communities without any risks for both parties how they aim to be one of the leading debs in the future.
Trading
Trading on Palmswap is smooth and hassle-free. Users don't need to register or create an account by that the kyc process will be eliminated, once on palmswap platform users can immediately start trading long or short positions on various assets. Duration of connecting wallet till trade will only be 3 seconds. No Deposit is required, just connect your wallet and start trading.
Trading Cycles
Invest time in trading on the protocol to get free tokens. 270 million PALM will be distributed to active traders on the protocol, out of which a total of 20,000,000 PALM can be earned in Trading Cycle 1 for free by trading on the exchange before the release of tokens. This way, the active traders will get the early bird benefits of securing tokens before anyone else does.
Tokenomics
The PALM token is a governance token designed to facilitate and incentivize the decentralized governance of the protocol. The ecosystem is centered around governance, trading rewards, staking, and farming and has been developed to fuel the future growth and decentralization of the Protocol.
The coming launch of the Testnet is an important milestone for Palmswap network and will provide Palmswap with an important opportunity to optimize and fine-tune the network ahead of the main network launch in the coming month.
PalmSwap just launched two $10,000 incentive campaigns to their community, which they will choose 200 community members over the next three weeks and award $100 to each member.
Airdrop:https://twitter.com/Palmswaporg/status/1472189353833209857)
Website: palmswap.org
Community: https://linktr.ee/palmswap
Palmswap testnet and whitelist: https://docs.palmswap.org/testnet)
SOURCE: Palmswap
View source version on accesswire.com:
https://www.accesswire.com/679070/Binance-Chain-Based-Dex-Palmswap-announces-its-date-for-its-testnet-release
