What Is AstroSwap (ASTRO)?

AstroSwap is a DEX (decentralized exchange) platform developed on the Cardano blockchain. According to the whitepaper of the asset, the platform aims to resolve the issues that exist with the blockchain community while taking trading to new limits. In order to achieve this aim, AstroSwap has implemented the Swapz protocol, which seeks to allow fast and secure cross-chain swap of funds for users. The Swapz protocol highlights a mechanism that facilitates trading across multiple blockchains, which includes Binance Smart Chain, Ethereum, Polygon, etc. This, in turn, allows the platform to seek to create a scalable, reliable, robust environment that removes high transaction fees for fund transfer while eliminating the risk of funds being stuck in a bridge. The bridges are smart contracts that facilitate transactions between different blockchains. Besides these usages and advantages of DEX, the platform also seeks to provide users with many other services, which include the following:

• Yield farming – This is an investment strategy in DeFi that allows users to generate rewards with cryptocurrency holdings.

• Staking

These services seek to allow users to grow over time using the AstroSwap platform. Further, to facilitate these services and transactions on the platform, AstroSwap introduced its cryptocurrency, the ASTRO token.

The ASTRO is the native utility token of the AstroSwap platform that functions on the Cardano blockchain and is represented by token type ADA. The ADA is the native utility token of the Cardano blockchain that fuels the Cardano platform. Further, the ASTRO token seeks to be used for many functions on the AstroSwap platform, including trading digital assets, participating in liquidity pools, yield farming, staking, and lotteries. Besides this, the token also seeks to be used for paying incentives and rewards to the users of the platform, thus reflecting how ASTRO token plays an important role in powering the AstroSwap platform.

History of AstroSwap (ASTRO)

The AstroSwap platform started its journey in the fourth quarter of 2021 and released its whitepaper in November 2021. The token of the platform has a maximum total supply of 10,000,000,000 $ASTRO.