Buy ParaSwap (PSP)

What is ParaSwap?

ParaSwap is a decentralised exchange (DEX) aggregator that consolidates liquidity from various decentralised exchanges and lending protocols into a single, comprehensive interface and APIs. It aims to provide secure and optimised trading solutions for individual and institutional traders across multiple blockchains.

How does ParaSwap work?

ParaSwap functions by aggregating liquidity from multiple DEXs and lending protocols to offer users the best trading rates. It operates on multiple blockchains, including Ethereum, Binance Smart Chain, and others. ParaSwap uses smart contracts, audited for security, to facilitate trading and lending operations. It employs algorithms to optimise trade execution by splitting orders across different exchanges and uses Chainlink oracles for accurate pricing.

What are the potential use cases for ParaSwap?

ParaSwap's use cases include:

• Trading at the best available rates by aggregating multiple platforms.
• Buying, storing, and managing tokens across supported networks.
• Trading NFTs across different blockchains.
• Staking PSP tokens for gas refunds and participating in governance activities.
• Providing API access to developers and financial institutions for integrating its features.

What is the history of ParaSwap?

ParaSwap was founded by Mounir Benchemled in 2019 to address liquidity issues in decentralised exchanges. It launched in March 2019 and has since expanded to support multiple blockchains. The project raised $5.7 million from investors and launched its native token, PSP, with a retroactive airdrop in 2021. ParaSwap has continued to evolve its technology and expand its market presence by integrating over 100 protocols across various chains and forming strategic partnerships with leading DeFi projects.