Kuswap uses the automated market maker technology and additionally has enhanced utility that revolves around $KUS, its native token. Built on the KuCoin community chain, the DEX was launched in June 2021 with crowdfunding. As per the company, it is the first DEX to offer yield farming along with AMM with a low transaction fee. Enhanced performance and lower network costs are assured by the platform and it aims to become the leading DEX terminal for token trading.
Some of the key features that make this DEX unique among its competitors are listed below:
- KuSwap is a complete ecosystem that is present within KCC, a larger ecosystem. It has a Launchpad, a lending platform, and a decentralized NFT marketplace.
- KuDrops is an inbuilt component of the platform. It promotes information campaigns and community development.
- KUSDAO is the governance platform that invites proposals from token holders and takes important decisions on the improvement of the platform.
- Yield farming allows users to earn KUS rewards when they provide liquidity.
- KUS is the native token of the exchange which is an invaluable asset for crypto users and decentralized finance.
How does Kuswap work?
Important functions of the DEX include the following:
The platform works only when it has sufficient liquidity for enabling trading. For instance, if no one sells KCS to you, how much of the asset you want to swap will not matter, as you cannot trade it. But when you provide liquidity, you receive LP tokens. The tokens will bring you rewards by the way of trading fees and ensure there is always liquidity in the exchange for trading.
Users who provide liquidity will get KUS rewards upon locking their LP tokens in a smart contract. The advantage of yield farming is you get to limit the risk associated with locking your tokens. Farming is a sustainable method promoting growth in the long-term while maintaining competitive APYs.
The KUSwap Launch pool is a mining alternative of the low resource type. You can use your KUS to receive more tokens without any cost. You can stake only your KUS tokens to get additional KUS.
The working method of the exchange is as follows.
- Users invest their tokens in the liquidity pools.
- The exchange provides liquidity via the Liquidity providers.
- Users receive LP tokens which they stake in the farms to earn KUS tokens.
What can you buy on Kuswap?
The DEX uses the KuCoin Community Chain which is called a peer to contract system. It has immutable programs called smart contracts that facilitate peer-to-peer functionality with automation. At present, the exchange offers a seamless swap of KRC20 tokens on the KCC. Some of the allowed tokens that you can swap here include KCS, KUS, USDT, BTCK, BNB, BUSD, USDC, ETH, and DAI.
Is Kuswap safe?
The vendor does not provide info on the security measures used by the company to protect user data and other sensitive info.
Kuswap fees, compatible wallets, and transactions
When users make a token swap or trade, they are charged a trading fee of 0.1%. Of this amount, 0.05% is sent to the liquidity providers as a fee and 0.05% is used to burn the KUS tokens. We could not find info on the fees the platform charges for deposit or withdrawal of your assets on the platform. Supported wallets of the platform include Metamask, Coin98 Wallet, TokenPocket, and WalletConnect
What are the ways to trade on Kuswap?
Some of the trading options on the DEX include
- You can swap KUS in exchange for other tokens.
- Farming of KUS using KCS token is possible using which you can earn more KUS.
- You can form a KUS/KCS liquidity pool to earn LP tokens.
- You can stake KUS in the KUPools and earn KUS as rewards.
- With the NFT marketplace you can buy/see NFTs.
For support, the vendor offers a few email addresses for customer support, suggestions, partnership, marketing, and other related queries and complaints.
Should you trade with Kuswap?
Kuswap summaryKuswap summary
- Has many innovative features including farm analytics, launchpad, NFT marketplace, etc.
- Transactions fees are not high
- No info present on the security provided
- Vendor transparency is not present
- It is a fairly new exchange and hence has limited functionality