CrossSwap (CSWAP) is a decentralized exchange (DEX) that allows users to trade on multiple blockchains. The users can exchange or transfer cryptocurrency from one platform to another without hampering the user's experience. The DEX teamed up with BlueZilla to solve the crypto exchange and transfer issue that blockchain projects faced during the launch. The platform aims to allow projects to pre-add liquidity, schedule a launch time, review data, and make edits before launch. Liquidity means the possibility of the asset getting converted into a real-world economy without affecting the market. The projects can also set wallets that require tokens and plan a token distribution setup.
Moreover, when a project adds liquidity, the platform locks the liquidity for security reasons. The platform also uses an anti-sniping feature where projects can design their whitelists. Anti-sniping is a technology that prevents users from placing a higher bid at the last moment.
CrossSwap seeks to support the transfer and exchange of cryptocurrencies across Ethereum (ETH), Binance Smart Chain (BSC), Bitcoin BEP-2 (BTCB), and other platforms. Each exchange or swap of crypto has a fee of 0.25%, where liquidity pool holders receive 0.17% of the fee, and treasury receives 0.03%. The platform uses the remaining 0.05% of the swap fee for buyback and burning the CSWAP tokens. Burning tokens means removing the token from the circulating supply, reducing the token's total supply. Similarly, each transfer or bridge of crypto charges a 0.1% bridge fee. The treasury receives 0.03%, and the remaining 0.07% of the bridge fee is used for the buyback and burn of the CSWAP tokens.
$CSWAP is the native token of the CrossSwap platform. $CSWAP token holders receive up to 50% discounts on trading fees. The platform uses a part of the transaction fee from the $CSWAP tokens for buyback and burn. The users involved in staking can earn rewards for the automated market maker (AMM) liquidity pool. An AMM is a DEX protocol that decides the price of assets using a mathematical formula. Also, 50% of all transaction fees get redistributed to $CSWAP stakers. Further, $CSWAP token holders can become members of the decentralized autonomous organization (DAO) to modify the proposals for the platform's development and participate in voting.
By 2022, CrossSwap aims to integrate into CrossWallet.