The crypto space keeps on changing. Different blockchains are supporting various cryptocurrencies and tokens. As a result, people swap cryptocurrencies on separate blockchain networks creating convenience for traders and other users. For instance, a person may swap ETH for Bitcoins.
Many companies offer crypto swapping services, enabling people to swap cryptocurrencies on different blockchain networks. Anyswap is one of the most advanced decentralized cross-chain protocols existing today, offering unique features that meet traders’ needs.
Anyswap, built on the Fusion blockchain, uses the DCRM technology, which has an automatic system of setting prices and liquidity levels. Users can exchange all tokens on blockchain networks that support ECDSA and EdDSA, such as Binance. As a result, Anyswap supports swapping of coins from over 95% of existing blockchain networks. By using Anyswap, people exchange multiple cryptocurrencies without the involvement of intermediaries.
The blockchain systems that support ECDSA and EdDSA include XRP, XLM, LTC, TRX, BCH, BSV, ETH, BTC, ADA, and EOS, among others. These figures show the extent of the cryptocurrencies that Anyswap supports.
Key Features of Anyswap
Anyswap boosts features that support secure and convenient cross-chain swapping of cryptocurrencies. First, the Anyswap protocol enables users to swap one cryptocurrency for another cheaply and instantly.
Second, Anyswap has a decentralized cross-chain bridge. With this feature, users can deposit coins of their choices and mint wrapped tokens. This increases the volume of trade in cryptocurrencies.
Finally, Anyswap has a programmed Pricing and Liquidity feature, which allows users to add or remove the system’s liquidity. The level of liquidity at a specific time automatically determines the price of cryptocurrencies.
Additional information on the operation of Anyswap
Apart from the features explained above, Anyswap offers convenience to users in several ways. For instance, it supports Metamask and ledger wallets. Once users deposit their assets into these wallets, they can swap them using the AnySwap interface. The good news is that there are advanced plans to introduce more wallets.
Traders also benefit from checking various metrics, enabling them to make informed decisions. As an example, users can access information presented in the forms of charts. They can view different prices of cryptocurrencies and the related trading volumes. Such data is available on the Anyswap platform.
Anyswap has few trading pairs such as FSN-ANY, FSN-aUSD, and FSN-aETH. Another exciting thing about Anyswap is its low gas fee. Usually, users pay a fee of less than $0.0001 per transaction. We cannot compare this to the astronomical gas fee of Ethereum, for example.
The ANY Token
Also, Anyswap has its native token called ANY. They mainly use this token for governance purposes through voting. For instance, holders of ANY vote for tokens to list and for the platform’s working nodes’ election. Besides, Anyswap issues out its token (ANY) as a reward to traders and liquidity providers.
Anyswap provides an opportunity for users to earn passive income, whether they are liquidity providers or traders. Liquidity providers share the 0.3% gas fee that traders pay. Apart from the 0.3% gas fee they share, they benefit from 9 900 ANY distributed as additional rewards daily. Each person receives a share according to his/her provider’s portion.
The second source of passive income is the reward for the work nodes. All nodes share 6 600 ANYs per day. Traders get rewards in the form of ANY tokens for their trading activities. Interestingly, traders share 250 ANYs allocated as a bonus per every 100 fusion blocks. The allocation of the ANYs depends on each trader’s trading volume during the period under consideration. Therefore, Anyswap offers rewards to all participants, meaning that everyone is a winner.
Anyswap has outstanding advantages over its rivals. First, unlike other famous swap protocols such as Uniswap and JustSwap, AnySwap protocol enables the swapping of tokens among different blocks. Again, it has very low network fees. Even the increase in trading volume does not lead to a rise in the gas fee.
Anyswap has high-security features. Using DCRM ensures the security of investor funds. Also, holders of the ANY tokens vote in deciding the tokens to list for the platform. Therefore, AnySwap allows trading of genuine and verified cryptocurrencies.
Finally, all users of the platform earn various rewards based on their daily activities. Thus liquidity providers, node owners, and traders get rewards for their activities in Anyswap.
Anyswap offers cross-chain swapping services reliably and securely. Apart from having many swapping pairs, it provides timely and consistent rewards to all participants. Thus every active platform user earns a passive income.