Introducing PorkSwap — decentralized spot and futures trading platform on Binance Smart Chain
PorkSwap is a decentralized spot and futures trading platform built on top of Binance Smart Chain with a mission to democratize access to finance, which correlates with the idea of Decentralized Finance (DeFi).
Most of current largest DeFi exchanges are focused towards spot trading and swap. However, a large chunk of the current finance system works on lending and derivatives.
Porkswap aims to be the major disruptor in De-Fi space by bringing current financial products in decentralized fashion. We begin our journey with spot and futures trading.
Power to the community:
After the 2008 financial crisis the regulators and large institutions aren’t trusted enough to have power over controlling world finances. Pushing the goal of De-Fi and PorkSwap of democratizing access, the PorkSwap platform is fully community governed, and we mean it!
With PorkSwap tokens, on our governance platform you’ll be able to create polls and vote for protocol changes that include changing the way we operate, changing the way the platform generates revenue, changing the incentives and changing the world for the better.
Why Binance Smart Chain:
Uniswap being the market leader on De-Fi spot trading space with their unique design of Automated Market maker and sought after project is marvelous in it’s working however the fact that it’s built on Ethereum blockchain and the gas averaging 238 (at the time of writing) it’s very cost insufficient to keep on trading there.
Binance Smart Chain is an imitation of Ethereum network with improvements that makes the gas fees to be reasonably cheap around 20 on average, that’s 10 times cheaper than that of Ethereum.
To be honest, the spot trading protocol works similar to that of Uniswap, SushiSwap, and Pancakeswap.
With key differences from Uniswap and SushiSwap is Faster and Cheaper!
PancakeSwap does a similar job being a fork of Sushi, however it’s underlying protocol is not flexible to changes as per community’s requests.
With PorkSwap we’re using Spot Trading as the foundation for offering current FIAT world financial protocols and decentralized fashion.
Futures / Leveraged Trading:
Using futures as the first financial product offering (FPO) we encourage the community to provide liquidity to the lending pool just like users hold money in their banks ( while banks screw them up by making a lot of money on their money and rewarding them with almost nothing).
As a trader: You’ll borrow funds from the lending pool at an interest rate of 2.4% per day to increase leverage on your trades which increases the chances of profits. Of Course the risk to increase more is involved.
As a lender: You’ll provide liquidity to the lending pool earning you 2.4% interest on your each active lending every day. The problem with other decentralized lending pools is as the pool grows the chances of your funds being used there is lower. This is why our protocol prioritizes using funds from early lenders so the get the most out of the platform.
While all other platforms Sushi, Pancake or any other SWAP you hear works on an inflationary model which means platforms like Pancake mint 750,000 CAKE tokens per day, that’s right per day making it very high inflationary more than that of FIAT.
With PorkSwap our focus is to buy back PSWAP tokens using revenue generated from 0.05% of spot trade and 3% of profit share in leveraged trading. As per our estimates the PSWAP token is supposed to be deflated around 30X within its first year of operations.
The futures trading is all about betting against the pricing, this is why PorkSwap will create a customized oracle on Binance Smart Chain to fetch real-time prices from centralized and decentralized trading platforms.
PSWAP has a fixed supply of 1,000,000 tokens which will be used for the platform’s governance and rewards.
- 500,000 tokens will be locked for community rewards for providing spot and leveraged liquidity which will be unlocked every blocks ( Unlocked amount will be decided by community)
- 200,000 tokens will be distributed over public sale
- 100,000 tokens will be used as liquidity to DEX listings
- 100,000 tokens will be reserved for bug bounty, white hat hacking, airdrops, and marketing campaigns.
- 100,000 tokens will be for the PorkSwap team that will be locked for 18 months.
PSWAP Private Sale Tokens will be offered with price of $5 via smart contract on March 28th, 2021 at 22:00 UTC.
PSWAP Pre-Sale Tokens will be offered to pre sale with price of $7 via smart contract on April 15th, 2021 at 7:00AM UTC.
Public Listing: Tokens from the listing wallet will be used to create an initial trading pool on PancakeSwap on April 19th, 2021. The listing price will be $14.
To celebrate the launch of Porkswap protocol, 6685 PSWAP tokens will be distributed to lucky
1337 participants, who have traded at least once on Pancakeswap.
PSWAP tokens tokens before public listing will be distributed at value of $14 per token.
To quality for airdrop you need:
1. Wallet address that has traded on Pancakeswap first in it’s lifetime
2. Follow our official Twitter account
3. Submit your wallet address and twitter through this form.
- Website: https://porkswap.finance/
- Github: https://github.com/PorkSwap
- Telegram: https://t.me/porkswap
- Discord: https://discord.gg/2KMa3RGS
- Twitter: https://twitter.com/pork_swap
- Facebook: https://www.facebook.com/porkswap
- Reddit: https://www.reddit.com/user/porkswap