Astroport has total liquidity of over a billion dollars which are contributed by token trading and pool investments. The decentralized exchange currently supports advanced charting and dual token rewards for investors contributing to the volume. The platform is built over SDK, allowing better integration with Wormhole v2 and blockchain. We will go through all the vital properties of the crypto broker to see if it is safe to invest with it for both the long and short term.
Astroport has the following features:
- Multiple pool types are available
- Token rewards for liquidity providers
- Shared fee structure
- Charts and analytics for better analysis
- Governance tiers are present that allow voting powers and commitment levels
The major tokens supported on the platform are UST, ASTRO, ANC, STT, ORION, VKR, MIR, MINE, wSOL, wAVAX, wETH, XDEFI, wBUSD, nETH, ORINE, KUJI, MARS, LOTA, and LunaX Coin. Traders from all corners of the globe can participate in trading as the exchange is decentralized.
Traders can purchase Astroport (Astro) by swaping it with one of the other tokens available on the platform.
How does Astroport work?
Astroport allows for all the following:
- Swapping tokens with others
- Investing in liquidity pools
- Earn Astro Airdrops
The exchange is open source meaning that traders can find out the code it is built upon and use it to their advantage.
What can you buy on Astroport?
As mentioned before, traders can participate in liquidity pools and acquire the supported tokens that include UST, ASTRO, ANC, STT, ORION, VKR, MIR, MINE, wSOL, wAVAX, wETH, XDEFI, wBUSD, nETH, ORINE, KUJI, MARS, LOTA, and LunaX.
The code was written from zero in Rust and uses the best pieces of Ethereum blockchain to deliver it on Terra. Two liquidity pool types are available which are backward compatible:
- Uniswap’s Constant Product formula pools
- Curve’s StableSwap Invariant formula pools
Is Astroport safe?
The website states that their contracts came under the security of Halborn and Oak Security. They comment that traders should not invest any money they are afraid to lose. Other than this, a decentralized exchange can be suspected of attacks from hackers, resulting in money loss.
Astroport fees, compatible wallets, and transactions
The maker and taker fee can vary according to the asset being traded. The swap costs for each pool depends on its type. They are as follows:
- Constant Product Pools–0.3% Total Fee/0.1% goes to xASTRO stakers
- Stableswap Pools–0.05% Total Fee/0.025% goes to xASTRO stakers
- Non-Boosted Stableswap Pools–0.3% Total Fee/0.02% goes to xASTRO stakers
Investors can connect their wallets using the Terra station plugin. A range of choices is available in this regard, including XDEFI and Leap.
What are the ways to trade on Astroport?
Traders have the following options available on the ViteX for trading:
- Swapping tokens with one another
- Participating in liquidity pools
- Trading various cryptocurrencies
The support tab is available on the website, which leads to a forum and tutorials. Investors can also use social media channels such as Discord and Telegram.
The developers are not clear on the available hours we can contact them. There are also no email addresses or telephone lines.
Should you trade with Astroport?
Astroport summaryAstroport summary
- A range of tokens
- Complex to understand the platform
- Rewards for discovering bugs