Kriptoks

WanSwap is a decentralized cross-chain AMM DEX that shares many similarities with Uniswap, but offers some unique advantages. It allows for swapping tokens from different chains in a truly decentralized way. WanSwap is a community-driven project started by core members of the Wanchain community. Liquidity providers can earn WASP tokens by providing liquidity to the pools and staking their liquidity pool tokens in the farming section. WASP is the utility/governance token that can be used for voting and can be used with other DApps on the Wanchain ecosystem.

Cross-chain functionality is an essential feature of WanSwap, and Wanchain has been building technology to make different blockchains interoperable by building bridges. Moving an asset from one chain to another is not possible due to the properties of blockchains, as it would corrupt the chain and defeat the purpose of a blockchain. Wanchain achieves interoperability by locking the asset in a smart contract, which removes the value and amount from the original chain. The token is then minted on the other chain in a wrapped version, which is like a voucher that can be redeemed when the asset is moved back to the original chain. The wrapped asset gets burned, and the original asset is released from the smart contract.

WASP has several use cases, including governance, staking, collateral in WanLend, and providing liquidity on WASP pairings to earn more WASP. WASP holders can vote on proposals initiated by the community, and they can stake WASP in the hive and earn WAN in return. Withdrawals are instant, and WASP can be used as collateral in WanLend, which is Wanchain’s compounding DApp to earn interest. WASP can also be used to provide liquidity on WASP pairings and earn more WASP. On some pairings on WanSwap, users can even earn dual farming rewards on the ZooKeeper DApp, where NFTs are used to boost rewards.

Low gas fees and fast transactions are WanSwap’s major advantages over other Ethereum DEXs. Normal transactions on Ethereum can be quite expensive, taking the incentive to swap tokens away because it's simply not viable to do it. Tokens on Wanchain don't have this issue, with transactions costing just 0.001$, and completed within seconds. Compared to paying 0.001$ on Wanchain, Ethereum's transaction fees can go as high as 80$.

Currently, WanSwap has integrated BTC, EOS, ETH, XRP, and BSC. DOT will be integrated in May. On WanSwap, users can trade WAN, FNX, WASP, ZOO, wanEOS, wanBTC, wanXRP, wanETH, and a number of wanERC20 tokens.

In conclusion, WanSwap is a decentralized cross-chain AMM DEX with unique advantages over other Ethereum DEXs. It allows for swapping tokens from different chains in a truly decentralized way, with low gas fees and fast transactions. WASP, the utility/governance token, has several use cases, including governance, staking, collateral in WanLend, and providing liquidity on WASP pairings to earn more WASP. With the integration of multiple blockchains, WanSwap is an excellent choice for traders looking for a diverse range of token options.