StellaSwap is the leading decentralized exchange based on the Moonbeam network. It was launched in January 2022. We could not find info on the team members. Other than the mention of the team being made of developers in cybersecurity, smart contracts, and fintech, the company does not reveal further info.
As per the info on the official site, the key features that this DEX offers include:
- The system can swap a wide range of coins and find the best rates in a single click.
- You can earn using your crypto assets by staking on the unlimited farms and the Stella vault.
- It is possible to identify and trade NFTs on the marketplace of the platform.
- Traders will get access to curated projects on the company’s launchpad that will be released on Moonbeam.
- You can transfer the assets you have on other blockchains to Moonbeam and get GLMR to begin trading on the platform.
- It supports the Metamask and WalletConnect wallets.
- Stella is the native token of this DEX platform.
- Funding methods include crypto tokens from other chain networks which can be converted to GLMR using the bridge feature.
How does StellaSwap work?
The DEX allows for all the following:
1. Swap Stella tokens
It allows trades between different coin pairs. To swap you need to have sufficient coins in your wallet. If you do not possess the GLMR tokens you can bridge the coins of other networks into Moonbeam for the swap.
For staking, the platform uses the Zap feature which allows quick yield farming. The feature allows conversion of a single token into an LP token without manual conversion of underlying tokens and pooling them for generating the LP token.
3. Creating liquidity pool
To farm and earn from the platform you need to provide liquidity. You can receive one LP token by staking two assets, use the generated token to stake on the farms and earn APR returns.
What can you buy on StellaSwap?
The platform works on the Moonbeam network which is a parachain of Polkadot. Tokens that the platform supports include 1Beam, GLMR, AVAX, BNB, BUSD, ceBUSD, CELR, ceUSDT, DAI, MATIC, ETH, STELLA, and more.
Is StellaSwap safe?
As per the company info, it has undergone two audits by third-party services in the DeFi field. The vendor mentions that security is the core pillar of the protocol design and governance. However, there is no mention of the security features used by the platform.
StellaSwap fees, compatible wallets, and transactions
From the info provided on the official site, the platform charges the following fees:
- Exchange trading fees: 0.05%
- Gas fees: 1%
- Cumulative fees on the NFT marketplace: 20%
- Cumulative listing fees on IDO launchpad: 20%
While the cumulative fees are not yet active, we could not find info on the withdrawal fees charged by the platform.
What are the ways to trade on StellaSwap?
Here are the steps for different trading methods on the DEX:
For trading between coin pairs here are steps to follow:
- Ascertain that you have a sufficient coin balance in your Moonbeam wallet
- Use the Connect Wallet feature on the official site to connect to your wallet
- Choose the coins you want to trade/swap
- Confirm the swap by clicking on the Confirm Swap option
- You will get a confirmed transaction message which completes the process
Other processes you can use to earn money on the platform include:
- Staking wherein you provide liquidity to the platform and earn via fees and rewards. With staking, you have the advantage of withdrawing your tokens without affecting the value.
- Locking is another method users employ to staking a single asset with a time lock. You lock your STELLA tokens on the vaults for a specific duration. The longer the duration the higher the reward. You are rewarded with STELLA tokens. Time duration of 1 week to one year is allowed for the locking process.
For support, links to social media pages of the company on Twitter, Github, Reddit, Medium, and Telegram are present. We could not find other support methods like a live chat window, a location address, phone number, etc.
Should you trade with StellaSwap?
StellaSwap summaryStellaSwap summary
- Offers unique features like zap, ILO, etc.
- Low transaction fees
- Best price and low slippage
- No info on the security