The current Web 3 stack is a developing collection of modular protocols, all of which are completely open source and prone to having their code forked by other projects. Considering how simple it is to create projects that look just like another in the Web 3 world (a version of the internet that is token-based and decentralized), it may be challenging to figure out which protocols are best in the long run.
The popularity of a protocol is not enough to promote its long-term value. Therefore, while swimming through the ocean of Web3 protocols in the market, you need to consider different aspects to see if the project has the potential to dominate the market. One such project that is doing rounds around the town is Garaswap Protocol. Here is everything you need to know about this emerging protocol.
Introducing Garaswap Protocol
GARA stands for “Competitions, Relentless Struggles for Excellence in Decentralized Swaps and Monetary Protocol in Crypto Ecosystem.”
As the first-ever DEX that integrates exchange and lending protocols, GaraSwap Protocol is a first in its class. It is a decentralized exchange for quick swaps, token bridges, and lending protocols related to the Bep-20 token.
Trading on DeFi World is dominated by GaraSwap Protocol ($GASP), which can be viewed as the UniSwap of the BSC network. Swapping in GaraSwap Protocol ($GASP) occurs through automated market makers (AMMs). Trades with digital assets do not have an order book, so you can’t find someone to fill your order. So instead, funds are pooled.
Features That Make Garaswap Stand Out
This feature will enable users to purchase swaps at desired rates by providing buy and sell orders (better rates) via GaraSwap and PancakeSwap.
This feature enables users to protect against losses by activating market orders once a stop price is met in GaraSwap and PancakeSwap.
Multi Chain Token Bridge
This multi-chain token bridge allows users to switch between blockchains, including BSc, HECO, Polygon, Solana, Fantom, xDAI, and Arbitrum.
A GaraSwap Protocol ($GASP) Cross-Chain Wallet is a service that enables communication between blockchains.
It is the process of setting and processing the price of GaraSwap Protocol ($GASP) tokens on a bi-weekly basis.
Only a limited number of $GASP tokens will be sold at IDO rate to Early Investors who are lucky enough to be Whitelisted. Among the 100 million tokens in the total supply, the tokens will be distributed as follows:
- Private Sale: 2%
- Pre-sale: 45%
- Airdrop: 5%
- Liquidity and Staking: 35%
- Buy Back: 3%
- Marketing and Promotion: 10%
Garaswap Protocol Roadmap: An Overview
The platform is currently getting listed on 2nd tier CEX exchanges for $GASP. In the first quarter of 2023, the platform will release lending protocol architectural lite paper 2.0 in addition to cross-chain bridge integration. Furthermore, with grand ambitions, the platform will start Metaverse NFT games partnerships and GaraUtility Card(GUC) distribution in the second quarter.
Garaswap protocol’s roadmap for 2023 provides a clear picture of what the platform aims to accomplish. With the Gara Wallet and Lending Protocol launch in Q3 of 2023, Garaswap will be able to achieve its primary goal of bringing DEX and lending protocols together. There are tremendous opportunities for users so they can start crypto trading without or with low funds and manage their assets without control.