WagyuSwap is a decentralized cryptocurrency exchange (DEX) that was founded in 2014. This exchange claims to be the first DEX on the fastest blockchain, which is the Velas Chain. As a result, WagyuSwap also claims to be the fastest DEX in the world. However, it is also an EVM-compatible blockchain, which means that WagyuSwap can easily bridge tokens across multiple networks at lightning speeds. The WagyuSwap crypto exchange is popular among technical traders.
Since WagyuSwap is a decentralized platform, it does not require users to go through the KYC process. The tokens are managed by smart contracts in a decentralized manner which makes this a permissionless exchange. WagyuSwap has not publicly revealed which countries are able to access the platform and use its services. Besides, the WagyuSwap cryptocurrency exchange does not have an application, but you can access it from any web browser on either a mobile phone or desktop computer.
Markets
WagyuSwap is an AMM-based exchange. Because the WagyuSwap crypto exchange is decentralized, all trades occur directly between the exchange and your wallet, so there is no invasion of privacy. However, a WagyuSwap trading pair needs to have enough liquidity if you want to swap it. As a result, WagyuSwap incentivizes the presence of liquidity providers. These liquidity providers are rewarded with LP tokens which give them discounts on the WagyuSwap exchange fees on the platform.
WAG is the native token of the WagyuSwap cryptocurrency exchange. It is a utility token that allows users to swap it in exchange for rewards and discounts on the WagyuSwap crypto fees. This is despite the WagyuSwap crypto prices being among the most accurate in the market. You can also farm your WAG holdings to earn more WAG with a higher APR.
Other Services
In order to address the risk of impermanent loss, liquidity providers are incentivized to lock up their LP tokens into a smart contract. In return, they are rewarded with WAG tokens. This process is called yield farming.
Moreover, there are Sizzle Pools, which are staking pools on the WagyuSwap cryptocurrency exchange. These pools function just like any other staking pool where you get the opportunity to earn more WAG tokens after staking them on the platform. The longer you stake your WAG tokens, the more you can earn in return.
Moreover, the WagyuSwap Lottery gives you a chance to win prizes after purchasing a lottery ticket worth $5. You can only purchase 100 tickets at a time. Purchasing bulk tickets makes you eligible for discounts as well. The WagyuSwap Lottery uses an implementation of VRF for genuine and secure randomness. If the numbers on your ticket match the numbers of the lottery, you win. The more numbers you match, the higher the prize.
Wagyuswap also has a platform called KitcheNFT, which is an NFT marketplace. You can buy, sell, and create NFTs on KitcheNFT. This marketplace was an addition in V2.
Additionally, WagyuSwap has a platform called Swapz, where you can trade pairs between different chains. All you have to do is connect your wallet.
Lastly, the WagyuSwap crypto exchange has its own blog where you can learn everything you need to know about this platform and its services.
About the Company
WagyuSwap is a decentralized cryptocurrency exchange that has been providing services since 2014. It was founded in 2013 by Alex Alexandrov, who is also the CEO of Coinpayments, the world’s first altcoin payment processor platform. He has a history with blockchain technology and software engineering.
The platform has been able to steer clear of any controversies and scandals since its establishment. However, some traders have been having issues with their gas fees not being entirely accurate sometimes.
WagyuSwap successfully launched staking, farming, and lottery during the fourth quarter of 2021. They have also launched the WAG NFT collection with NFTLaunch, and plan to launch Wagyu Breeders and Kitchen Magic.
