MojitoSwap Decentralized Exchange Review

MojitoSwap is a decentralized exchange that is fast, cheap, and user-friendly. It became available for users on October 15, 2021. We don’t know anything about the team behind this DEX or where it is based.

MojitoSwap overview 

Let’s check out the key features of this platform:

• Cryptocurrencies supported

You can instantly trade tokens on this platform for a low fee. Some of the supported coins include KCS, BTCK, COOHA, DAI, ETH, MANA, MJT, PENCIL, SAND, SFI, and USDC.

• Native token

The native token of this DEX is known as MJT. It is a governance and practical token with multiple applications. By holding this token, you can take part in liquidity mining and borrow funds to earn incentives.

• Funding methods

To conduct swaps on this platform, you need to have an adequate number of coins in your wallet. In case you don’t, you need to buy them from an exchange.

• Wallets supported

You need to connect your wallet to the exchange before you can conduct swaps. Currently, it supports the Metamask wallet and those that are compatible with WalletConnect.

How does MojitoSwap work?

Here, you can perform the following actions:

1. Swap tokens

You can use the AMM mechanism of this platform to exchange KRC20 tokens. Since this is a decentralized service, you can exchange assets without registering or logging in. Compared to Bitcoin and Ethereum networks, this DEX has a faster transaction speed. 

2. Mine liquidity

The liquidity mining function of this platform is known as Bar. You can add liquidity to a particular pair in return for LP tokens. These tokens can then be staked in the Bar to get mining incentives in terms of MJT.

3. Wine pools

This is an easy way to mine tokens on this platform. The first step is to deposit your MJT tokens in a pool to earn more MJT. For the staking pool, you have to manually withdraw MJT, while the compounding pool automatically reinvests your MJT rewards for higher returns.

4. Launchpad

The main objective of the Launchpad is to attract high-end projects and expand the ecosystem. This is a great way for users to participate in the primary investment. It is a premium fundraising platform for the project and an opportunity to promote it to KCC users.

5. Referral

By sharing the unique referral link with others, you can earn commissions. This is a great way to earn extra MJT tokens. You get 5% of the transaction fee generated by the invitee, while your friend gets 1%.

What can you buy on MojitoSwap? 

This platform runs on a decentralized, public blockchain known as KCC. Some of the tradable tokens on this platform include KCS, MJT, USDT, USDC, BTCK, and ETH.

Is MojitoSwap safe? 

The smart contracts of this platform were audited by PeckShield and no critical or high severity issues were found in the audit. Anyone can view the smart contracts and they are verified on KCC explorer. This ensures maximum transparency.

User reviews 

There are no user reviews for this DEX on third-party websites.

MojitoSwap fees, compatible wallets, and transactions 

Apart from Metamask, this DEX also supports WalletConnect wallets like Ledger, Tokenary, Infinity Wallet, Wallet 3, SecuX, Ambire, and KryptoGO. There is a 0.3% transaction fee for every swap conducted through this platform. From this, 0.18% goes to LP tokens, 0.08% is used for buyback, and 0.04% goes to the MJT treasury. 

What are the ways to trade on MojitoSwap?

To swap tokens on this platform, you need to visit the official website and navigate to the Exchange tab. Here, you can choose the token you wish to swap and the one you wish to receive. You can change settings like slippage tolerance and transaction deadline. Also, you can enable multi hoops in order to restrict swaps to direct pairs. To bypass confirmation modals and allow high slippage trades, you need to enable expert mode.

Customer support

No dedicated customer support team exists for this DEX platform. However, there is an official Telegram channel where you can ask the members of the community for assistance. MajitoSwap also has pages on Twitter and Medium.

Should you trade with MojitoSwap?