Netwswap is a decentralized cryptocurrency exchange (DEX) established in 2021. The decentralized platform enables users to trade, earn, and win cryptocurrency. It runs on Metis Andromeda, a multi-faceted Layer-2 solution.
As a DEX, Netswap is not subject to KYC. Additionally, the platform does not provide information about prohibited jurisdictions. Anyone from any part of the world can register with the platform and trade. However, individual users can research laws and regulations for their countries of residence to determine whether the use of the exchange's services is permitted. Netswap is accessible via the web application.
Market
Netswap offers both spot and margin trading. Netswap spot enables users to trade assets with the assets in their wallets. Users can also take advantage of margin trading and enjoy up to 5X leverage offered by the platform to boost their stake.
Netswap trading pairs include crypto-to-crypto markets. It supports over 30 cryptocurrency assets spread across many trading pairs.
Netswap features a native governance token called NETT. The token is fully community distributed. It fuels the Netswap crypto exchange ecosystem, supporting the reward systems on the platform.
The exchange uses the same Automated Market Maker (AMM) model as Uniswap to collect liquidity. Users have to trade against liquidity pools. Netswap crypto prices are determined automatically based on market prices. The trading interface also offers instant crypto token swaps. Users only need to connect their wallets to begin trading.
The platform also offers leveraged swaps. Thus, traders can margin trade with up to 5X leverage. You can borrow a certain number of tokens from a liquidity pool, trade with them, and pay back the loan with interest. However, leveraged trading has a higher risk and may involve losing more funds than you have.
Netswap charges a 0.3% transaction fee for every transaction. 0.25% of Netswap crypto fees are rewarded to LPs, while 0.05% is collected by the platform. Netswap exchange fees do not include hidden charges.
Other Services
Netswap crypto exchange offers liquidity pools, as well as farming and staking services as other ways to earn income besides trading. You can become a Netswap liquidity provider and earn decent interest. As mentioned before, the platform collects 0.3% in fees, with 0.25% going to the Netswap treasury. Users can choose from the various liquidity pools available. Users can also generate yield by staking the native token to collect a share of the protocol revenue.
Another service of the exchange is the Netswap Launchpad, which also offers an investment opportunity. Users can stake their NETT tokens to earn Launchpad allocation tokens (wNETT) and gain access to other investment opportunities. There are multiple dApps launched every month. Some of these projects have tokens. Thus, the platform helps projects launch and gain more exposure.
About the Company
Netswap was launched in 2021 as the first native DEX built on the Metis Andromeda. Since its launch, the Netswap team has been working hard to develop various functionalities for trading and earning crypto tokens. Some of its major features include token swapping, staking, farming, a liquidity pool, and a launchpad. The platform’s growth is reflected in the increased platform activities. The annual Netswap trade volume crossed the $815 million mark in 2022. On January 21, 2022, the daily Netswap volume reached a high of $27.24 million.
In Q1 2022, Netswap partnered with Metis to introduce the Builder Mining Rewards Giveback Plan, a program dubbed "Builder Mining." Metis uses this program to share 30% of its revenue with its partners. Netswap is one of the partners benefiting from this program. The platform also launched a trading competition in Q1 2022. This program helps boost liquidity and Netswap trading volume.
In Q2 2022, the platform launched an upgrade that created an in-depth connection between the NETT token and the Launchpad. This helps projects launch easily and quickly on Andromeda.
In Q3 2022, the platform introduced limit orders and prediction markets. Some of the launches scheduled for later also include the NFT marketplace, lottery system, leveraged swap, and governance.
The Netswap cryptocurrency exchange founders decided to remain anonymous.
