Hello everyone ... Here I will inform you by writing a review to introduce a very unique new project called Soku Swap, so for that, have a look at the article I created below to give you a really good overview of the project, then What benefits do they provide to everyone? Let's just go straight to the discussion below.
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum network and Binance smart chain. DEX uses automated smart contracts from market makers to create liquidity pools for both ERC-20 tokens and BEP-20 tokens. These features allow users to trade using an algorithm rather than the order book used on conventional exchanges.
Knowing that the biggest obstacle to entry is the lack of education and knowledge on how to trade cryptocurrency, they decided to focus on it. With on-screen chat features to answer any questions you may have and step-by-step on-screen instructions, anyone can trade. And if you still want to know more, they have classes that you can get paid in crypto to complete. You can even get paid to send people to class.
Soku Swap also has some perks, such as allowing users to make decisions about the future of DEX using our governance token. And we even have weekly payments to everyone who has placed liquidity and makes 3 trades per week.
What is Soku Swap?
Soku Swap is a fully decentralized cryptocurrency exchange that uses a relatively new type of trading model called an automated liquidity protocol. Soku Swap operates on the Ethereum Network as well as the Binance Smart Chain.
Soku Swap Features
Soku Swap offers users many ways to make money. From providing liquidity to trading or using concessional loans using term loans. Imagine doing millions of dollars worth of arbitrage deals with Pancake Swap or Uniswap using our coins in our easy-to-use flash credit system.
With SOKU, our governance token, you can help decide the future of the exchange. And if you do multiple trades every week, you also get a small fraction of the trading volume. The more the exchange grows, the more your payouts grow. In addition, you can decide which services should come first. If you have enough of these SOKUs, we may have to provide you with a parking space with your name on it.
On Soku Swap, you can transact on the Ethereum network and Binance smart chain. Ethereum is the largest decentralized network in the blockchain world, so it is impossible to launch an exchange without using it. But along with size, there are other problems. Binance Smart Chain recently emerged to help solve these problems. With faster trades and lower fees, Binance definitely deserves a look. We believe they are both important and we want our users to be able to transact wherever they want.
Have you ever had to try to explain cryptocurrency to someone? I'm sure yes, everyone has. We know this is a headache, but we try to educate the people we know because we care about them. Well, imagine if you could send them a link to some free crypto classes, and the more classes they do, the more you both earn. And don't worry, we'll keep them short and funny. We want to make learning easy and profitable for everyone.
What do people really hate about crypto exchanges? Is this the main flaw in customer service? I know this was one of our team's main complaints. So we decided to fix it. We're going to chat 24 hours a day so you never have questions you can't answer. No matter where you are, there is always someone within a click to help if you ever need it.
Centralized exchanges require all customers to fill out self-identifying forms. You need to include your name, date of birth, social security, blood type, DNA sample. Cryptocurrency was born as a decentralized currency that could not be controlled and tracked. With the freedom of DEX, you just need to connect your wallet and make trades.
Creating Exchanges
SokuFactory.sol is the smart contract where all the magic happens. It creates exchanges for each trading pair on Soku Swap. The public function createPair()allows any user to deploy an exchange contract for any pair of ERC20 or BEP20 tokens that do not already have one. The code below shows how the exchange is executed.
Lower Gas Fees
Soku swap is designed with gas efficiency at its core. Using the AMM smart contracts we're able to lower gas fees to 10% of normal exchanges. This gas efficiency is replicated in nearly all swaps between supported cryptocurrencies on the platform. Soku Swap has significant gas reductions compared to on-chain order book exchanges. And due to the higher fees on the ETH Network due to the massive recent interest in NFT's, the ability to make swaps on the Binance Smart Chain, allows you to make trades with even lower fees.
Adding Liquidity
Adding liquidity involves putting an equivalent value of either ETH & ERC20 or BNB & BEP20 tokens into the related exchange contract. The first liquidity providers determine the initial exchange rate by depositing what they think is comparable to the coin and tokens value. If the initial rate is low, arbitrage traders will bring the rate to equilibrium at the initial providers' expense.
Removing Liquidity
Liquidity providers can opt to burn their liquidity tokens to withdraw their contributions in the pool. BNB withdrawal is calculated by :
- bnbWithdrawn=bnbPool(amountBurned / totalAmount)
- tokensWithdrawn=tokenPool(amountBurned / totalAmount)
BEP20 tokens and BNB tokens are withdrawn according to the market's prevailing rates, not the rates at the time of investment. This implies some value can be gained or lost due to fluctuations in the market and arbitrage. Fee taken on trades is added to liquidity pools without minting new liquidity tokens.
Liquidity Tokens
Soku Swap liquidity tokens(SOKU LP) represent the provider's contribution to the liquidity pool. They are ERC20 coins or BEP20 tokens, depending on which chain they provided liquidity on. These tokens allow liquidity providers to sell their liquidity or transfer them between accounts without impacting liquidity in pools.
Liquidity tokens are minted and sent to the addresses of liquidity providers. They represent the providers' contribution to a pool. These tokens are highly divisible and can be burned at any time to return a proportional share of the market to the providers. Providers deposit into reserves and mint new liquidity tokens.
The BNB sent to the function determines the number of liquidity tokens minted. The formula below calculates minted tokens
amountMinted=totalAmount(bnbDeposited / bnbPool)
Depositing BNB into reserves calls for depositing an equivalent value of BEP20 tokens as well. Tokens deposited is calculated by the formula
tokensDeposited=tokenPool(bnbDeposited / bnbPool)
Tokenomics
- Name: Soku
- Base price: $ 0.88
- Blockchain: BSC
- Total Token Supply: 222,222,222
- Symbol: SOKU
- Total tokens available for Sale: 111,111,111
- Type: BEP-20
- Purchase methods: BNB, ETH, BTC, USDT
- Softcap: 100,000 SOKU
- Hardcap: 1,000,000
Token Distribution
Allocation of Funds
All tokens sold during Presale will be Staked for 30 days. You’ll receive SSoku Tokens redeemable at a rate of 1 SSoku Token:1 Soku Tokens. You can trade your SSoku Tokens for your Soku Tokens after 30 days through Soku Swap.
SSoku can only be redeemed for Soku, not any other token.
For more information on this project see the link below:
Website: https://www.sokuswap.finance
ANN: https://bitcointalk.org/index.php?topic=5327040.0
Twitter: https://twitter.com/SokuSwap
Telegram: https : //t.me/sokuswap
Discord: https://discord.gg/DgNnfGWbd4
Facebook: https://facebook.com/Soku-Swap-102896308602496
Youtube: https://www.youtube.com/channel/UCdJFtg_BmXHhPeCJVgoqF3A
Medium : https://sokuswap.medium.com
Username: stevany025
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