Wagyuswap (WAG) is a decentralized exchange (DEX) on the Velas Network. The project is an EVM (Ethereum virtual machine) compatible chain powered by AI (artificial intelligence) and leverages Solanacodebase to seek to support cross-chain transfers of all major coins. EVM is a software platform that is applied to create decentralized applications (DApps) on ETH. Further, the platform aims to reward users with high staking along with rewards and returns.

In other words, Wagyuswap is an automated market maker (AMM) on the Velas chain that claims to be a fast blockchain for swapping/trading, staking, liquidity pools, and yield farming. AMM is a tool utilized to supply liquidity (token pool) in decentralized finance (DeFi) without the intervention of a third party to set the price of an asset.

Wagyuswap token swaps mean trading one VEP20 token for another using automated liquidity pools. With Wagyuswap deployed on the Velas network, users can aim to bridge tokens to numerous networks with swift transactions.

Since all the trades on Wagyuswap seek to occur between the exchange and the crypto wallet, no KYC is required due to which privacy is maintained. Besides this, users who add liquidity to the Wagyuswap seek to get LP (liquidity pool) tokens to earn a trading fee share on the platform. Also, liquidity providers earn WAG, a native token of Wagyuswap by locking their LP tokens into a smart contract to seek to address the risk of impermanent loss.

However, users can earn higher APR (average price revenue) to offset the risk by becoming more exposed to market fluctuations. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

Users can even seek to earn WAG by staking from the top projects on the Velas chain using a sizzle pool (auto pool/manual pool). Further, users can aim to win prizes by participating in the Wagyuswap lottery, using VRF (verifiable random function) for genuine and secure randomness. Thus, Velas and Wagyuswap seek to disrupt the DeFispace with an advanced tech stack. Moreover, the platform plans to launch more WAG drops and release its mobile app in the future.

BlueZilla incubated the Wagyuswap project in partnership with BSCPad, ETHPad, and Velas. The project had a maximum total supply of 500,000,000 WAG with an initial circulating supply of 3,750,000 WAG.