Soku Swap is a fully decentralized cryptocurrency exchange
Hello all my friends / Here I will 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 an excellent overview of this project, what are the benefits of it all? Let’s go straight to the discussion below.
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum and Binance Smart Chain networks. DEX uses automated smart contracts from market makers to create liquidity collections for ERC-20 tokens and BEP-20 tokens. These features allow users to trade using algorithms rather than the order books used on traditional exchanges.
Knowing that the biggest obstacle to getting started was a lack of education and knowledge about cryptocurrency trading, they decided to focus on it. Anyone can take action with an on -screen chat to answer any question and step -by -step on -screen instructions. And if you want to know more, there are courses you can pay to complete in crypto. You can even get paid to send people to class.
Soku Swap also has several advantages, such as: B. the ability for users to use our governance tokens to make decisions about the future of DEX. And we even have weekly payments for everyone who has placed liquidity and done 3 trades per week.
What is Soku Swap?
Soku Swap is a fully decentralized cryptocurrency exchange that uses a relatively new trading model called an automated liquidity protocol. Soku Swap works on Ethereum and Binance Smart Chain networks.
How does it work?
This allows users to trade using the algorithm versus the order book used on conventional exchanges. The price is determined using the formula x * y = k ( x coin token X and y coin token Y , and always maintain the invariant that x ∗ y = k for some constant k), and this ensuring the recommendations remain in relative equilibrium. Soku Swap reserves are collected among liquidity providers who supply exchanges with tokens in return for a portion of the transaction costs. Soku Swap uses registry contracts to facilitate exchange between different currencies. The mechanics of the system ensure that trade between cryptocurrencies is based on their relative supply.
Soku swap function
- Soku Swap offers many ways for users to make money. From providing liquidity to trading to using concession loans with term loans. Imagine making a multi -million dollar arbitration deal with Pancake Swap or Uniswap by using our coins in our easy -to -use flash loan system.
- With SOKU, our governance token, you can help determine the future of the exchange. And if you do a lot of trading every week, you also get a fraction of the trading volume. The more exchanges grow, the more you pay. In addition, you can decide which services to prioritize. If you are tired of this SOKU, we may need to provide a parking space marked with your name.
- In Soku Swap you can transact on the Ethereum and Binance Smart Chain networks. 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 address this issue. With faster trades and lower costs, Binance is definitely worth a look. We believe both are important and we want our users to be able to transact wherever they want.
- Have you ever tried to explain cryptocurrency to someone? I’m sure everyone has. We know this is confusing, but we try to educate 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 rewarding for everyone.
- What do people really hate about crypto exchanges? Is this a major mistake in customer service? I know this is one of our team’s main complaints. So we decided to fix the problem. We’ll chat 24 hours a day so you’ll never have a question you can’t answer. Wherever you are, there is always someone in one click to help if you need it.
- In the case of exchange centers, all customers must fill in a self -identification form. You must 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 the trade.
Problems
One of the most important issues affecting DEX is its lack of liquidity. With wide margins, most trades take place on the combined exchange, the lack of volume keeps most customers sticking to the integrated exchange. Customers of most decentralized exchanges have struggled to keep an eye on complex DEX stages anticipating that they will have to learn and complete them with stage and collaboration.
Make an exchange
SokuFactory.sol is a smart contract where all miracles happen. Exchanges are made for each trading pair in Soku Swap. With the public createPair () function, each user can provide an exchange contract for a pair of ERC20 or BEP20 tokens that they do not already have. The following code shows how the exchange is performed.
Lower gas costs
Soku swaps are designed with gas efficiency in mind. With AMM smart contracts, we can lower gas costs by up to 10% from a normal exchange. This gas efficiency is replicated in almost all exchanges between cryptocurrencies supported on the platform. Soku Swap has a significant gas reduction compared to exchanging order books in a chain. And because of the higher costs on the ETH network due to the huge interest in NFT recently, the ability to exchange on the Binance Smart Chain allows you to complete trades at a lower cost.
Add liquidity
Adding liquidity involves inserting the equivalent value of the ETH & ERC20 or BNB & BEP20 tokens into the relevant exchange contract. Initial 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, the arbitrage trader balances the rate at the expense of the initial provider.
Clear liquidity
Liquidity providers can choose to burn their liquidity tokens to withdraw their contributions to the pool. NBB payments are calculated by:
- bnbWithdrawn = bnbPool (totalBurned / totalAmount)
- tokensWithdrawn = tokenPool (totalBurned / totalAmount)
The BEP20 token and the BNB token will be withdrawn in accordance with the prevailing interest rate in the market and not in accordance with the prevailing interest rate at the time of investment. This implies that some value may be gained or lost due to market fluctuations and arbitrage. Fees charged on trades are added to the liquidity pool without any new liquidity tokens being printed.
Token liquidity
The Soku Swap Liquidity Token (SOKU LP) represents the provider’s contribution to the pool of liquidity. These are ERC20 coins or BEP20 tokens depending on which chain they provide liquidity. This token allows liquidity providers to sell or transfer their liquidity between accounts without affecting the liquidity in the pool.
The liquidity token is printed and sent to the address of the liquidity provider. They represent the provider’s contribution to a base. These tokens are highly divisible and can be burned at any time to return a proportionate market share to the vendor. Providers pay reserves and form brand new liquidity.
- The NBB sent to the function determines the number of liquidity tokens printed. The following formula calculates the number of embossed tokensMinted = totalAmount (bnbDeposited / bnbPool)
- Storing BNB in a proposal also requires a deposit with a value equivalent to a BEP20 token. Stored tokens are calculated based on the formula tokensDeposited = tokenPool (bnbDeposited / bnbPool)
Tokenomik Soku Swap:
Name: SOKU
Base Price: $ 0.88
Blockchain: BSC
Total Tokens
Supply: 222,222,222 Symbol: SOKU
Total Tokens Available for Sale: 111,111,111
Type: BEP-20
Purchase Method: BNB, ETH, BTC, USDT
Softcap: 100,000 SOKU
Hardcap: 1,000,000
Token Distribution and Funding Allocation
All tokens sold during pre-sale will be used for 30 days. You will receive an exchangeable SSoku token at the rate of 1 SSoku token: 1 Soku token. You can exchange your SSoku token for a Soku token through Soku Exchange after 30 days.
Soku can only be exchanged for Soku, no other tokens.
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