What Is Coinswap Space (CSS)?

Trading under CSS, CoinSwap Space is a decentralized exchange created for swapping BEP20 tokens on the Binance Smart Chain. CoinSwap is a DEX that uses an automated market maker (AMM) model to allow users to trade against a liquidity pool. These liquidity pools are filled with users’ funds. The ticker symbol of the token is CSS.

As per the whitepaper, the vision of CoinSwap Space is to create a foundation for the community and incentivize in exchange for their support of the AMM model. The main target of CoinSwap Space is the consumers that avoid the high gas fee of Ethereum blockchain. The transaction fee paid by the users on the blockchain network for having their transactions involved in the block is a gas fee.

CoinSwap Space aims to consist of an ecosystem of DeFI products, including AMM/swap, yield farming, staking, and token listing centered on the CSS token. Yield farming is about lending crypto assets to generate high returns or rewards in the form of additional cryptocurrency.

CSS token is a utility and governance token that helps in on-chain voting. CSS utility tokens can be used to purchase both products and services offered on the platform. Also, these tokens can be used to align the received incentives of users, stakeholders, and network participants.

Further, On the DApp of CSS, the feature of on-chain voting is added. On-chain governance seeks to help in managing and implementing changes to cryptocurrency blockchains. The rules for establishing these changes are encoded into the blockchain protocol. The developers do the acceptance or rejection of the proposed change through code updates and node votes.

CSS has a great feature of SpacePad where IDOs or initial DEX offerings (IDOs) are launched and supported. Initial DEX offering (IDO) is a decentralized and crowdfunding platform to launch a new coin, crypto projects, or token via a decentralized liquidity exchange. SpacePAD seeks to allow everyone to fund a project by connecting the wallet to the CSS platform and to support IDO; it enables donating a certain amount from that fund to the currently featured IDO.

History of CoinSwap Space

CoinSwap Space was founded in April 2021.

References

1. https://doc.coinswap.space/

2. https://doc.coinswap.space/overview/tokenomics-charts

3. https://doc.coinswap.space/products-and-services/voting

4. https://coinswap.medium.com/how-do-you-connect-your-wallet-to-the-coinswap-space-platform-a9d3b0713990

5. https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/does-coinbase-support-binance-chain--bep-2–

6. https://www.coinbase.com/learn/crypto-basics/what-is-a-dex#:~:text=A%20decentralized%20exchange%20(or%20DEX,occur%20directly%20between%20crypto%20traders.&text=A%20decentralized%20exchange%20(better%20known,occur%20directly%20between%20crypto%20traders

7. https://www.coinbase.com/learn/crypto-basics/what-is-a-token#:~:text=Technically%2C%20%E2%80%9Ctoken%E2%80%9D%20is%20just,they%20are%20technically%20also%20tokens

8. https://www.coinbase.com/price/ethereum

9. https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain

10. https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency

11. https://help.coinbase.com/en/wallet/other-topics/what-is-a-dapp

12. https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/eth-2-0-staking#:~:text=What%20is%20staking%3F,transactions%20and%20earn%20Staking%20rewards

13. https://coinmarketcap.com/alexandria/article/what-is-yield-farming

14. https://coinmarketcap.com/alexandria/article/what-is-an-initial-dex-offering-ido-and-why-do-we-need-them

15. https://www.coinbase.com/learn/crypto-basics/what-is-defi

16. https://coinmarketcap.com/alexandria/article/what-are-gas-fees