Today, in 2021, there are loads of main cryptocurrency developments that discover themselves extremely common all on the identical time. There’s the DeFi sector with its decentralized exchanges, the NFT market which is that this yr’s star pattern that gave beginning to NFTs for all kinds of purposes., and, of course, efforts to increase interoperability between chains — especially BSC and Ethereum network.
A lot of projects have emerged this year that are still trying to take the lead regarding any one of these trends, while others have even attempted to do it with two, or more. One of the latter is MintySwap — a young project that has been quickly gathering the attention as a fresh, next-gen platform for NFT minting, token swaps, and more.
What is MintySwap?
MintySwap emerged as a licensed cross-chain aggregation protocol. Essentially, it is a project that plans to offer consumers access to digital currency-based financial services, and allow them to swap different assets within its DEX. It facilitates cross-chain DEX between ETH and BNB, bringing a lot of new possibilities to its platform that are beyond the scope of what isolated blockchain network’s can achieve.
However, the project’s ambition is much greater than that. For example, it is also building a place for artists, content creators, and others to come together and use a new medium for buying and selling their creations to collectors.
Next, the platform is also heavily focused on creating a community, and the best way to do it is to base itself around DeFi principles. That way, the project gets to create a free-flowing market that does not have to concern itself with traditional liquidity concerns which have proven to be very restricting for other types of projects.
Even that is not the full extent of the project’s idea, as it is not really satisfied with being only a NFT marketplace — even a cross-chain one. Instead, it wants to offer even more to its users, which is why it also has plans to introduce its own deflationary native token in the near future.
Who is the Project for?
MintySwap has been rather specific when it comes to its goal of becoming a one-stop shop for pretty much everyone. It wants to attract everyone, including regular community members, developers, content creators and artists, as well as art collectors. In other words, it wants to become a place of issuing NFTs, buying them, selling them, swapping them, and more.
Its ultimate goal is to provide a more efficient cross-chain trading method, but to still keep things as simple as possible. On top of that, it is keeping an eye on other exchanges on leading chains in order to find the most cost-effective rates for its own users.
As for its upcoming native coin, it will also be known as MintySwap, and it will be based on Ethereum and BSC alike. It will have a unique feature where it charges a 2% fee to anyone who uses it in any way. 1% would be used for redistribution to other token holders, essentially rewarding them for HODLing. The remaining 1% is paired automatically with ETH, and added as a liquidity pair on MintySwap.
All users who might be interested in earning these rewards should know that they will be collected and sent to their wallets automatically. Also, the reward collection cycle will remain unaffected until the user sells 100% of their tokens.
Users should also keep in mind the fact that this is only a beginning, and that the project might continue to expand and list new features in days, weeks, months, and years to come.