Disclaimer: The Capital has received payment in exchange for writing this article
Kwikswap is a new type of protocol that is designed to offer developers, as well as liquidity providers, and traders, the opportunity to engage with a decentralized financial marketplace. This allows these individuals the opportunity to join in with the DeFi movement that is continuing to take over the market and that is also continuing to drive more and more people away from the traditional financial market. It’s creating the wave of the future, and with Kwikswap it becomes even more powerful and provides a range of additional options.
What is DeFi?
First, let’s take a brief moment to talk about just what DeFi even is. It’s a system of decentralizing the financial market. So, for all of the traditional banks and credit unions and other financial service providers that are out there, this system is designed to make sure that people are given even more options. The DeFi movement gets away from these traditional financial markets and gives the people even more control over their money, including how they want to loan it out. This allows for even more loans to be given but also keeps them more secure than traditional loans between individuals.
With DeFi, it’s possible to create a completely new financial system that will allow people who may otherwise struggle to get traditional financing or support to achieve what they need. It allows for things like individual loans that are backed by the blockchain. This increases security but also makes sure that the opportunities are nearly endless for anyone who wants to get involved. And Kwikswap is designed to assist with this process and to provide even more opportunities and versatility to those who are interested in getting started.
What is Kwikswap?
Kwikswap is billed as the only exchange that is self-sustaining and self-sufficient when it comes to not only liquidity but also performance and the user experience. It’s a decentralized trading platform for tokens and an open-source project, which means that it can be worked on and improved by anyone who has the interest and the know-how to get started. It’s also able to address a number of problems that are associated with traditional centralized exchanges by branching out into the field of decentralized exchanges instead. This provides for even more opportunities and features for the user.
This system is considered a programmed liquidity market that doesn’t require order books or central parties in order to complete transactions. Instead, clients are able to do whatever they like as in an exchange, including exchanging stage and symbolic exchange. It also secures the process and helps to empower it as well. There are no delegates and all exchange is done through ERC20 tokens. Not to mention there is decentralized pricing features that provides for even more balance and better rates and returns for those who are looking to get started with Kwikswap. And there’s no need to trust anyone else with any of your tokens.
When it comes to getting started with the new launch you’re definitely not going to want to miss out on what’s out there and you definitely won’t want to miss out on the ways in which Kwikswap can make this process simpler either. There are a range of different features that are set to be available with the system in order for those who do want to get started to make the most of it. It’s all about making sure you dive even further into the platform and into the DeFi network so you can be part of what’s coming in the world of cryptocurrency and more.
Kwikstarter — the first piece of the puzzle is the decentralized launchpad for the system. It’s not available yet, but it’s expected to be launching soon and will provide a range of additional features. It’s backed by Binance Smart Chain but features more than just the launchpad as a whole. It also features projects and startups, a project incubator, the KWIKSWAP ecosystem, a fair distribution policy and tiered benefits for the whitelist. All of this allows Kwikswap to offer even more opportunities and ensures that the launchpad will be ready to go as soon as possible in the best way possible.
Analytics — when you get involved with anything, especially in decentralized finance or cryptocurrency as a whole, you’ll want to pay closer attention to the analytics and just what it has to offer you. After all, you want to make sure that you’re going to get the kind of return on investment that you’re looking for as well as the right level of liquidity. Through Kwikswap you’ll be able to find all of this information quickly and you will be able to manage the trade and volume data that you’re most interested in.
App — When it comes to getting involved with the crypto market and blockchain you absolutely want to be able to access the best information on the go. That starts with having an app that will let you create markets and stake, add liquidity and swap right from your mobile device. The app will let you choose which type of token you’d like to trade and what you’re looking to turn it into. All you have to do is connect your wallet in order to be able to get started and then you can make sure that you are on your way toward making the best possible returns.
Token Lists — You want to know what type of tokens you can get started with when you’re involved with Kwikswap and this is where you’re going to find out. The platform caters to the standard Ethereum token list. This process is network driven to ensure more discoverability and provides the high level of trust that you should expect with ERC20 token lists. This makes for a decentralized process but also keeps the entire thing comprehensive and straightforward. Anyone is able to recognize the different lists and coins that are available and get started where they feel comfortable.
ChainSol — Finally, you’re going to have on-chain governance when the system is able to launch this part of the process. While there’s not a whole lot of information available at this point, ChainSol will definitely make a difference in the way that the platform works as well as the way that it continues to develop. It’s also going to help you feel even more secure and have better control over what’s happening within the platform. That’s because the people who possess the tokens will be the ones in charge of the governance aspect, which adds a layer of security.
Kwikswap and Reef Chain
Reef has welcomed Kwikswap into its growing ecosystem, as it becomes the first project to build on the Reef Chain. Kwikswap is a prominent building block of Layer 2 DeFi with a lightning fast decentralised swap exchange protocol.
Much like Uniswap, KwikSwap enables other developers to build on its API’s and dApp UI and source code which can assist in extending the reach of the protocol. By building on the Reef chain, Kwikswap will be able to leverage Reef Chain’s high scalability and higher throughputs while minimizing the gas fees encumbered by the users.
Kwikswap DEX to go live on Reef Chain:
Kwikswap is a revolutionary cross chain swap protocol with Layer 2 scaling that allows users to utilize the platform for swapping, market creation, providing liquidity and staking. It enables the creation of token markets, own KWIK tokens, and on-custodial wallet connections.
On the other hand, Reef is the gateway to DeFi through liquidity and protocol aggregation, proprietary analytics, and multi-chain accessibility. It is secured under Polkadot’s shared security model, ensuring high resilience and forkless upgradability.
Reef has higher throughputs and scalability than Ethereum and allows for porting of existing DeFI apps from Ethereum to Reef chain through its solidity support. The Reef chain is self-upgradable with a cutting-edge Liquidity Bridge being in the works.
Value proposition of the Kwikswap-Reef partnership:
This collaboration thus makes great sense as Kwikswap users would be able trade assets at lightning-fast speeds with near-zero gas fees using the Reef chain. KwikSwap is developed on its own source code and its automated token exchange on the Reef chain will feature
* Non-Custodial Wallet integration via Web3
* Market Creation abilities to all end users
* Anyone can add Liquidation and share in fees
* Staking rewards for holders of KWIK token
* No more expensive fees
Kwikswap’s liquidity mining will go live soon as well. In addition, Reef has provided a grant for the Kwikswap team through its Reef Developer Program. Reef is absolutely ecstatic to be ushering in a new era of Layer 2 DeFi alongside KwikSwap!
“Kwikswap is one of the most talented team in the DeFi landscape — we are excited to have them onboard as the first financial primitive on Reef Chain”-Denko Mancheski
“The dev teams and myself at Kwikswap are super excited to have the opportunity to partner with Reef to be the first DEX built on Reef Chain! We can’t wait to showcase Reef Chain in all its glory to the world and open our DEX on its mainnet! “ – James Lee
About Reef Finance
Reef is the first cross-chain DeFi operating system built on Polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXes and DEXes while offering smart lending, borrowing, staking, mining through an AI-driven personalized Reef Yield Engine.
The Future of Kwikswap
The platform is currently working on a range of different steps that are designed to launch them even further and even faster moving forward. This is after the platform has already begun a range of different features and is currently working on enhancing as it goes on. The decentralized aspects of this platform are set to create an entirely new system of finance and to make sure that users are on the right track to getting away from older, more traditional forms of finance. This provides for even more advancement as we move into the future.
Acala Mandala Testnet — Alongside this, the system is currently working on testing with the ACALA system. In fact, they were set to launch V2 testnet on the parachain very quickly, in the month of March. The decentralized finance hub and stablecoin platform is built on Polkadot, and is expected to offer even more features and opportunities for Kwikswap. In fact, it offers cross-chain, peer-to-peer value transfers. This will provide additional attractiveness to the intended purpose of Kwikswap and will also allow it to work with PLASM, which is a layer 2 scaling solution.
During the launch process here, Kwikswap will be able to capitalize on the potential that comes along with decentralized finance. They will be able to let users into the platform and then reward them for different efforts that they make as well as increasing convenience and decreasing the need for third-parties. This can also increase the overall level of security. But first it starts with the features that are going to come with PLASM and Polkadot. These can include staking, voting, and stablecoins, but even that is not expected to be it when it comes to this platform, with fixed and recuring payments, native tokens and instant swaps also expected.
PLASM Dusty Network Testnet — Alongside the ACALA launch, the company is also setting out with PLASM, which will provide a number of similar benefits for the system. In fact, Kwikswap will be considered the first cross-chain DEX to be deployed through Polkadot, but the DEX aspect is all about PLASM. The biggest aspect here is that PLASM is fully scalable and it’s a smart contract platform that uses multi-virtual machine. It’s based on the Parity Substrate Framework and increases interoperability. In fact, developers are able to build their own bridges and use standalone blockchain networks in the process.
With PLASM and Kwikswap, you’ll find inter-blockchain token cross-over functioning. The deployment on PLASM is already on Dusty testnet and the team is currently integrating ACALA. With these updates there will be even more opportunities for those who are engaged with the platform and that’s going to make a huge difference for the system and its overall success. Additional management and technical features are major for the users, after all.
Polkapanda NFT Marketplace — Within the next few weeks (or less) the system is expected to also be launched through Polkapanda, which is an NFT marketplace using top international designers. By getting started with the NFT system, the company will actually be able to launch itself even further and even faster without having to worry about getting behind the curve. That’s because NFTs, or non-fungible tokens, are designed to be the next big thing and will allow Kwikswap to continue to evolve into whatever is coming next at any given turn.
What to Know About Kwikswap
When it comes to launching a new platform, and especially one in the decentralized finance space, it’s important to look at each of these different features and see just where we can expand and what can be done next. Kwikswap is set to take on the decentralized market and to make sure that there are new opportunities moving forward. By launching with each of the different platforms listed above, it’s possible for the platform to continue to grow and develop and also to make way for even newer and more advanced developments. Users will be able to engage in token swaps and marketplace creation, especially with the newer platforms that are being used.
All in all Kwikswap DEX is an all-new Cross-chain Automated Protocol on Ethereum & Polkadot incorporating Plasm & Acala Network Parachains. The Kwikswap protocol provides developers, liquidity providers & traders the opportunity to participate in a decentralized financial marketplace that is open and accessible to all. It also contains a launchpad and NFT Marketplace.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.
Kwikswap Review 2021: Swap, Create Markets, Add Liquidity & Stake was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.