ParaSwap - NFT and DEX Middleware for Traders
ParaSwap is a DeFi aggregation site combining all the liquidity of decentralised exchanges and lending protocols into one easy-to-digest source.
The site ensures that all data is accessible through a secure interface and comprehensive APIs. It offers some of the best prices in the decentralised finance ecosystem for traders and developers looking to connect their decentralised applications.
The information is laid out in a clear and digestible format and covers everything users need.
The drive behind the project's development is the belief in the future adoption of DeFi participation through the offering of 'secure, intelligent and optimised trading tools' for individuals and corporations. The provision of these tools will allow access to vast pools of liquidity as well as volumes of crucial market data.
The core features of the platform are as follows:
API – Public libraries enable smooth interaction with Dapps and wallets.
Charts – More than 100 protocols across multiple L1 & L2 chains provide up-to-date market information. Multichain – ParaSwap is available across some of the largest blockchains, including Ethereum, Binance, Avalanche, and Polygon.
Onchain RFQ – On chain 'request for quotes' enable real-time prices from KYC-verified partners. Yield optimisation – Lending rates across multiple protocols have been optimised to provide the best prices. Security and audits – The project has been verified via external and independent smart contract auditors.
The ecosystem currently supports seven active blockchains processing 37 billion in total volume. This is achieved through 10 million+ trades across 65+ integrations. Clearly, this platform is on track to realising its grand ambition of providing everyone with access to powerful and open financial tools.
A broad selection of some of the most popular applications, protocols and tools available on the market today are readily accessible, including -
Alongside price data and API feeds, ParaSwap has a mobile application that offers users a full suite of crypto management tools. Interested parties can buy, sell or store their favourite tokens and trade NFTs across multiple networks.
This versatile application features some of the highest security on the market while giving the user total control over their activity by providing them access to their private keys, thus allowing them complete self-custody of their assets.
The project has been developed with institutions and developers in mind. Flexibility over data and price feeds sets ParaSwap apart from its closest competitors. ParaSwap can provide competitive services in the following areas -
Custodians – Token swapping is easy and integrated.
Brokers/Bots – Both slippage and execution costs are minimised with powerful and versatile coded programs. Lenders – Users have more chances for engagement through the versatile exchange functions. Market Makers – Liquidity pools allow users to bid for order flow.
Banks – The product is customisable for retail banking needs.
Asset Managers – Exchange services can be added to increase customers' wealth offerings. The ParaSwap platform has been audited by the likes of Certik, Solidified, and PeckShield. It has the backing of some big names from the worlds of crypto and DeFi, including -
• Blockchain Capital.
• Arrington Capital.
• Coin Fund.
• DeFinance Capital.
The native token of ParaSWap is $PSP which has a circulating supply of 72.8 million and a hard cap of 2 billion coins. With a current price of $0.03, this brings a market cap of $2.3 million, ranking the token number 1100 on the price comparison site Coinmarketcap.com.
The token is available from various brokers, but some of the most popular include MEXC, ByBit, Gate.io, and WOO.
Overall, ParaSwap offers a comprehensive suite of products and features for the modern DeFi investor. The platform is well managed and professional in its user interface and levels of data and analytics on offer.
The project prides itself on its 'best prices in DeFi', its ability to refund high gas fees, as well as its innovative P2P NFT trading feature.
This project is an excellent example of a modern DeFi aggregator uniting the liquidity of a wide variety of decentralised exchanges and lending protocols into one easy-to-use, comprehensive, and secure interface and corresponding APIs.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.