Soku Swap
Soku Swap - A decentralized exchange that lives on the Ethereum network and the Binance Smart Chain
Hi everyone ... Here I am going to let you know by writing a review to introduce a very unique new project called Soku Swap. To do this, check out the article I created below to give you a really good look at the project, what are the benefits of all of them? Let's just go straight to the discussion below.
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum network and the Binance Smart Chain. DEX uses automated smart contracts from market makers to create liquidity pools for ERC-20 tokens and BEP-20 tokens. These features allow users to trade using an algorithm rather than the order book used on traditional exchanges.
Knowing that the biggest obstacle to getting started is the lack of education and knowledge about cryptocurrency trading, they decided to focus on it. Anyone can take action with on-screen chat to answer any questions and step-by-step on-screen instructions. And if you want to know even more, there are courses that you can get paid to complete in crypto. You can even get paid to send people to class.
Soku Swap also has some advantages, such as: B. the ability for users to use our governance token to make decisions about the future of DEX. And we even have weekly payments to everyone who has placed liquidity and are making 3 trades per week.
What is Soku Swap?
Soku Swap is a completely decentralized cryptocurrency exchange that uses a relatively new trading model called the automated liquidity protocol. Soku Swap works on both the Ethereum network and the Binance Smart Chain.
Soku swap functions
Soku Swap offers many ways for users to make money. From providing liquidity to trading to using concession loan with term loans. Imagine making millions of dollars' worth of arbitrage deals with Pancake Swap or Uniswap by using our coins on our easy-to-use flash loan system.
With SOKU, our governance token, you can help decide the future of the exchange. And if you do multiple trades each week, you also get a small fraction of the trading volume. The more the exchanges grow, the more your payouts grow. In addition, you can decide which services should come first. When you get tired of these SOKUs, we may need to provide you with a parking space marked with your name.
At Soku Swap you can carry out transactions in the Ethereum network and in the Binance Smart Chain. Ethereum is the largest decentralized network in the blockchain world, so it's impossible to start an exchange without using it. But besides size, there are other issues. Binance Smart Chain was recently developed to solve these problems. With faster trades and lower fees, Binance definitely deserves a look. We believe both are important and we want our users to be able to conduct transactions wherever they want.
Have you ever had to try explaining cryptocurrency to someone? I am sure yes everyone has. We know this is a headache, but we try to educate the people we know because they are important to us. Imagine if you could send them a link to some free crypto classes. The more classes they offer, the more you both earn. And don't worry, we'll keep it short and fun. We want to make learning easy and profitable for everyone.
What do people really hate about crypto exchanges? Is this the main customer service mistake? I know this was one of our team's main complaints. So we decided to fix the problem. We'll chat 24 hours a day so you never have questions that you can't answer. No matter where you are, there is always someone within a click to help if you ever need them.
In the case of a central exchange, all customers must fill out self-identifying forms. You will need to provide your name, date of birth, social security, blood type and DNA sample. Cryptocurrency was born as a decentralized currency that could not be controlled or tracked. With the freedom of DEX, all you have to do is connect your wallet and complete trades.
Create exchanges
SokuFactory.sol is the smart contract where all the magic happens. Exchanges are created for each trading pair at Soku Swap. With the public function createPair (), any user can provide an exchange contract for a pair of ERC20 or BEP20 tokens that do not yet have any. The following code shows how the exchange is done.
Lower gas charges
The Soku swap is designed for gas efficiency. With the AMM smart contracts, we can lower gas fees to 10% of normal exchanges. This gas efficiency is replicated in almost all swaps between supported cryptocurrencies on the platform. Soku Swap has significant gas reductions compared to exchanging order books in the chain. And due to the higher fees on the ETH network due to the massive interest in NFTs in recent times, the ability to swap in the Binance Smart Chain allows you to complete trades with even lower fees.
Add liquidity
Adding liquidity involves inserting an equivalent value of ETH & ERC20 or BNB & BEP20 tokens into the relevant exchange contract. The early liquidity providers determine the initial exchange rate by depositing what they think is comparable to the value of coins and tokens. When the initial rate is low, arbitrage traders balance the rate at the expense of the initial providers.
Remove liquidity
Liquidity providers can choose to burn their liquidity tokens to withdraw their contributions to the pool. The NBB payout is calculated by:
bnbWithdrawn = bnbPool (amountBurned / totalAmount)
tokensWithdrawn = tokenPool (amountBurned / totalAmount)
BEP20 tokens and BNB tokens will be withdrawn according to the interest rates applicable in the market and not according to the interest rates applicable at the time of the investment. This implies that some value can be gained or lost due to market fluctuations and arbitrage. The fees charged on trades are added to the liquidity pools without any new liquidity tokens being minted.
Liquidity token
Soku Swap Liquidity Tokens (SOKU LP) represent the provider's contribution to the liquidity pool. These are ERC20 coins or BEP20 tokens depending on which chain they provided liquidity in. These tokens allow liquidity providers to sell or transfer their liquidity between accounts without affecting liquidity in pools.
Liquidity tokens are minted and sent to the addresses of the liquidity providers. They represent the providers' contribution to a pool. These tokens are highly divisible and can be burned at any time to return a proportional market share to the vendors. Providers pay into reserves and shape new liquidity brands.
The NBB sent to the function determines the number of minted liquidity tokens. The following formula calculates minted tokens
amountMinted = totalAmount (bnbDeposited / bnbPool)
Depositing BNB in reserves also requires depositing an equivalent value of BEP20 tokens. The stored tokens are calculated according to the formula
tokensDeposited = tokenPool (bnbDeposited / bnbPool).
Tokenomics
Name: Soku
Base price: $ 0.88
Blockchain: BSC
Total token supply: 222,222,222
Symbol: SOKU
Total Tokens for Sale: 111,111,111
Type: BEP-20
Purchase methods: BNB, ETH, BTC, USDT
Softcap: 100,000 SOKU
Hardcap: 1,000,000
Token Distribution
Resource allocation
All tokens sold during the pre-sale will be used for 30 days. You will receive SSoku tokens that are redeemable at the rate of 1 SSoku token: 1 Soku token. You can exchange your SSoku tokens for your Soku tokens through Soku Exchange after 30 days.
SSoku can only be redeemed for Soku, no other token.
Further information on this project can be found under the following link:
Website: https://www.sokuswap.finance
Twitter: https://twitter.com/SokuSwap
Telegram: https: //t.me/sokuswap
Discord: https://discord.gg/DgNnfGWbd4
Medium: https: // sus .com
AUTHOR:
Bitcointalk Username: Dragonbal58
Telegram Username: @Dragonbal58
Bitcointalk Profile Url: https://bitcointalk.org/index.php?action=profile;u=2433951
BEP-20 Wallet Address: 0xfc8C7417f2D808077cbBBF7B4f62A104b7603B57
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