What isXSwap Protocol (XSP)?

XSwap Protocol is an automated market maker (AMM) protocol powered by the XDC Network. XDC Network is a blockchain platform designed to help governments, enterprises, and private firms overhaul their tech stack using blockchain technology and provide them with a range of novel use cases of the technology. Governed by smart contracts, the platform claims to be fast and can process thousands of transactions within seconds.

XSwap is an open-source, noncustodial decentralized exchange (DEX) platform that allows users to swap their digital assets and earn inside secured pools. The platform offers staking and farming use cases to its users. XSP Staking protocol has secured cryptocurrency pools for different assets for users. Users can earn Liquidity Provider tokens (LP tokens) in return for their contribution to add liquidity to the platform. LP tokens are issued to the liquidity providers on an AMM protocol in a decentralized exchange. Users are allowed to unstake at any point in time.

The farming ecosystem allows users with LP tokens to stake them in different farming pools, enabling them to earn farming rewards. The more the users provide liquidity, the bigger the rewards they can get. Users can at any time withdraw from farming. 37% of the total supply on the platform is allocated to staking and farming rewards in the ecosystem.

The platform plans to introduce a decentralized android app to facilitate ease of use and navigation of the platform and all integrated XDC dApps all in one place.

XSP is the native token of the XSwap platform. XSP is crucial and powers up the entire platform. Users can use XSP tokens for farming and staking purposes. Blocksscan audits the smart contracts of the platform.

History of XSwap Protocol (XSP)

Jay Sullivan and Tom Larsen are the founders of the project. The whitepaper of XSwap Protocol was launched in November 2021. The maximum supply of XSP is 13,000,000,000 tokens.