LONDON, March 12, 2021 (GLOBE NEWSWIRE) -- The DeFi space is evolving very rapidly, and the lack of cross-chain interoperability platforms has been one of its biggest hurdles to grow. There have been diverse challenges within the Defi space and PaybSwap is committed to solving a few of them.
What Problems are we solving?
- The complexity of Defi: The existing infrastructure is huge and scattered about. The complexity of the whole ecosystem poses a barrier to entry for a regular investor. PaybSwap is here to make life easy for everyday users; with its simple design non tech individuals are able to easily navigate the platform.
- Higher Gas fees: The average Ethereum transaction fee has skyrocketed unimaginably. This makes using Ethereum network totally unviable for smaller transactions which eliminates a lot of DeFi activity for the average trader or investor. With Paybswap you have the opportunity to choose lower gas fees by connecting to defi projects on Binance smart chain and polkadot ecosystem.
- Rapid Change in the ecosystem: Things are changing so fast on a daily and weekly basis and it’s very challenging catching up with different chains and their improvements. The cross-chain nature of PaybSwap makes it possible to follow up on these improvements and changings across all 3 chains on a central platform which is PaybSwap.
Paybswap is a cross-chain automated market maker on Binance chain, It’s a decentralized application running across the Binance Smart Chain, Polkadot and Ethereum blockchains. The basic trading functionality of PaybSwap comes directly from the pankcakeswap codebase. Liquidity providers are incentivized for providing liquidity to trading pairs with rewards drawn from the fees paid by users swapping between the paired assets.
Paybswap also features liquidity farming inspired by related projects such as Sushiswap. PaybSwap takes full advantage of its cross-chain features in order to power trading between assets from multiple blockchains using the Bridge modules. By building a cross-chain bridge, Paybswap is able to connect Ethereum Chain and Polkadot ecosystem.
Bridge: The type of cross-chain transactions presently supported on PaybSwap Bridge is Burn and Mint transactions where the users can “burn” pegged assets from one host chain and “mint” the equivalent amount of pegged assets on another host chain.
PAYB token is the governance token of PaybSwap on Binance Chain with the total supply of 1 Billion PAYB and circulating supply of 400 Million PAYB.
To know more, visit their website at payswap.finance
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