Solabeam is a decentralized exchange established in September 2021 in Estonia. The company provides liquidity and enables peer-to-peer transactions on the Moonriver Network. The main goal of the Solarbeam cryptocurrency exchange is to provide a one-stop platform for the cryptocurrency community.
Solarbeam supports users across the world. It does not provide a list of restricted regions. However, it is the users' responsibility to research their country's laws and regulations regarding Solarbeam services and determine whether they are legally acceptable. Solarbeam crypto exchange is available through the web. Besides, since it is a decentralized platform, there's no KYC verification.
Markets
The crypto exchange offers spot trading. Solarbeam spot allows users to instantly buy and sell cryptocurrencies right from their wallets. The platform does not offer margin trading, meaning users can only trade with their available balances without any leverage.
Solarbeam trading pairs include crypto-to-crypto markets. The platform does not support fiat-to-crypto pairs. However, the exchange supports many crypto assets spread across over 640 Solarbeam trading pairs.
The project launched its native token, Solarbeam token (SOLAR) in 2021. SOLAR is a utility token that powers the Solarbeam cryptocurrency exchange platform. The token facilitates the reward system on the platform. Solarbeam crypto price is available on the live chart here.
Solarbeam offers a simple interface for swapping cryptocurrencies. The platform does not use traditional order books to support trading between buyers and sellers. Instead, it uses an Automatic Market Maker (AMM) to support peer-to-peer and permissionless cryptocurrency trading. It also involves trading against liquidity pools. Liquidity pools provide liquidity for the traders on the network. Solarbeam has a deep liquidity that supports its large trading volumes. Users supply liquidity pools with the supported tokens. The AMM method uses a mathematical formula to determine the crypto prices on the exchange. Check out the current Solarbeam trade volume above.
Solarbeam cryptocurrency exchange has a standard fee of 0.25%. Solarbeam exchange fees are distributed among liquidity providers (LPs) and the team. LP providers receive 0.20%, while 0.05% goes to the team. Half of the Solarbeam crypto fees allocated to the team are used for buybacks and bans to support the sustainability of the SOLAR token.
Other Services
Solarbeam crypto exchange offers various DeFi products, besides cryptocurrency swaps, for crypto trading, earnings, and investments. The products include yield farms, staking pools, launch pads, and bridges.
Yield farming and staking allow token holders to stake or lend their cryptocurrency to pools to generate additional tokens. Solarbeam has several liquidity pools that allow users to stake their tokens to higher rewards in SOLAR tokens. Users can unstake their assets anytime. Liquidity providers earn a 0.20% fee on all trades, proportional to their share of the pool. The program adds the fee to the pool, which accrues in real-time. The profit can be withdrawn by withdrawing liquidity.
The staking product on the Solarbeam network allows users to stake SOLAR tokens and earn APR paid in the veSOLAR token. The longer a user locks their funds the more they will earn. Holders can use veSOLAR tokens to earn ecosystem profits, partner tokens, and governance voting.
Besides, the exchange has the Eclipse Launchpad, which is a curated decentralized IDO Launchpad, supporting project launches on the Moonriver network. Eclipse is built for cross-chain tokens and auctions. It is helping projects raise capital on a decentralized and interoperable Moonriver network. Solarbeam also allows users to bridge tokens to and from the Moonriver Network.
Additionally, there's the Moonwell Apollo project, which allows users to lend and borrow crypto assets.
About the Company
Solarbeam foundation launched on September 2021 with aim of providing a comprehensive and convenient one-stop platform for the crypto community. The platform is based in Estonia. Solarbeam cryptocurrency exchange was founded by Firekid, Solar Ape, and Two Tooths. Alongside Solarbeam, there's also the Solarflare DEX, which is based on the Moonbeam network.
Solarbeam crypto exchange is designed to meet the evolving needs of the market and the community. The platform continuously leverages strong partnerships, introducing innovations such as automatic pools and dynamic liquidity.
Solarbeam trade volume crossed $2.83 billion in 2022. The growth in Solarbeam volume reflects the increasing number of transactions on the platform.
Solarbeam co-founder FireKid has been in the crypto space since 2015. He began active crypto trading in 2016, after one year of learning. He was also an active oil trader before going full-time crypto. Solar Ape, the other co-founder, is an active developer with experience working in financial systems. Two Tooths is mainly in marketing.
