What is a Swapz token?
Swapz token is a digital currency developed and issued by the swapz network or platforms. The Swapz platform claims to offer true decentralized trading in the crypto market. The platform has developed a software which reduces the number of slippages that occur while buying or selling a digital asset. Due to the fast movement of prices in the market, the trades tend to be executed at a different price than which appeased the trader. According to the company, these slippages eat into the profits earned by the users from their trades.
Swapz platform reportedly resolves this problem by negotiating a direct link between the buyer and seller of the respective asset. This link facilitates the determination of a fixed price at which the asset will be traded. The Swapz platform aims at putting 100% of the trader’s profits “by combining distributed hash tables, real-time price feeds, and blockchain agnostic on-chain settlement.”
The Swapz platform uses the swapz token to conduct its trades. As traders adapt to this platform so as to maximize their profits, the popularity of the Swapz token will increase.
The swapz network has partnered with CoinMarketCap to airdrop up to 4 million swapz coins to 2000 lucky participants! The event will be held for the duration of a week from June 28, 2021 to July 5, 2021.
During this week, the participants must complete certain tasks in order to be eligible to receive the tokens. The winners will be decided by both the parties and they will receive 10% of their winnings on July 6, 2021 and the rest 90% over the period of nine months so as not to dilute the value of the token.
What are the benefits of participation?
The airdropped swapz token can be used on the swapz platform which claims to provide true decentralization unlike other exchanges. Swapz platform does not require KYC details thereby maintaining true anonymity of the trader or user. Swapz token provides liquidity to the trades placed on the exchange.
Moreover, swapz token is not easy to purchase. One cannot purchase this token with US dollar or Indian rupee or any other currency for that matter. The token can only be acquired by exchanging a major cryptocurrency such as bitcoin, Ethereum or binance coin for it. Thus, receiving Swapz through airdrops can save the traders a lot of time and efforts for acquiring it through the other way.
Swapz coin is listed on major exchanges such as Binance. It has a huge scope for growth and this airdrop can make traders and investors aware of its existence and usefulness.
Interested users are recommended to complete the required tasks at the earliest so as to be eligible for the airdrop. Since only 2000 winners will be chosen, there will be a lot of competition among users.