ParaSwap launching on Fantom to extend its DEX aggregator service

This post was originally published here

paraswap

Jan 24 · 2 min read

98% of voting community members agree to launch ParaSwap & $PSP on Fantom Opera Mainnet

https://paraswap.io/#/?network=fantom

The ParaSwap DAO initiated a vote to its community last week. With over 98% of its community voting “agree”, ParaSwap is launching on the Fantom Opera Mainnet today.

https://vote.paraswap.network/#/proposal/0x0dd0eb024d6bcd9d5a728ec0ea856217fe94eef12f00ab51e7113a6767851bfa

The decentralized exchange (DEX) has been a powerhouse in the development of DeFi. ParaSwap allows crypto traders to access and benefit from a wide range of DeFi tools one-stop via a unified interface and API.

According to this proposal, ParaSwap aims to begin with setting up liquidity pools for Fantom users, followed by applying for the FTM incentive program from the Fantom Foundation, and eventually raising liquidity for the DAO.

Two major advantages of the launch:

1. Efficiency.

biswap

Efficiency is key in trading crypto. By launching ParaSwap onto Fantom, users can seamlessly trade with various protocols on a single interface. ParaSwap provides a sophisticated algorithm for easing the pain of searching in a complex trading route manually.

2. Performance speaks louder than words.

Leveraging a highly scalable and gas-efficient blockchain, users no longer experience the blockchain trilemma of scalability, security, and decentralization. The integration will bring an elegant journey to users, where they can trade digital assets under full customization.

“The experience integrating Fantom has been one of the smoothest and most efficient. The Fantom team is one of the most talented and helpful individuals in the space. We’re looking forward to adding value to the Fantom community”

Mounir Benchemled, Founder of ParaSwap.

The Paraswap DAO is working at full steam

In a decentralized manner, proposals for ParaSwap’s movements are first discussed on its Discord server between verified PSP holders and stakers. Once a proposal is formalized, it will be submitted to the forum for further discussions and adjustments. Once ready, a vote for the proposal will then take place on ParaSwap’s Snapshot, where all PSP holders and stakers can cast their votes gasless.

For the full proposal on Fantom launch, please visit here.

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