What Is Lumenswap (LSP)?
Lumenswap is a decentralized exchange based on the Stellar network that allows users to swap, trade, and store assets in an easy-to-use interface. The platform's marketplace uses an AMM model, where users can provide liquidity for which they are compensated. Users can also exchange their respective digital assets at the best rates. An automated market maker (AMM) is part of a decentralized exchange (DEX) that eliminates any intermediaries in cryptocurrency transactions.
Being an open-source, distributed blockchain-based ledger database, Stellar protocol facilitates the transfer of value between assets, including payments. Unlike some smart contract-based networks that implement functionality through a third party, Stellar has an AMM built into its core. The structure ensures security and neutralizes many smart contract-related attacks.
According to its whitepaper, the features of the Lumenswap ecosystem are as follows:
Lumenswap offers the best prices for trades based on the liquidity rates and the submitted order books on the network.
The Lumenswap client is on the Stellar Network, which benefits scalability and low fees.
Lumenswap is open and decentralized by default. All of the assets on the Stellar Network are also available on Lumenswap. The Lumenswap application enables users to add any assets they want.
Lumenswap supports various wallets for better accessibility. The current options available to users include Rabet, Freighter, Albedo, Ledger, and private keys.
In Lumenswap's ecosystem cycle, the LSP token serves as a reward and governance asset, making it dynamic and decentralized.
The token distribution of LSP is as follows:
History of Lumenswap (LSP)
Vladimir Kholodenko and Amir Ansari are the co-founders of the Lumenswap project. In the Lumenswap project, there is a total supply of 1,000,000,000 LSP tokens.
