TangoSwap Decentralized Exchange Review

TangoSwap is a smartBCH exchange offering a wide range of tools that can help crypto traders. This exchange is based on SushiSwap, which is one of the most popular exchanges on the market today. Through this system, you can trade, swap, and invest in tokens.

TangoSwap overview

Here are the key features of the platform:

• Cryptocurrencies supported

This is an exchange that does not need to hold your tokens for you to swap them. Compared to other exchanges, it supports a large number of coins. Some of them include BCH, $CATS, CAO, DAO, DOGE, FLEX, HONK, HODL, and KONRA.

• Native token

The native token of this platform is known as TANGO. When a token is staked on a farm, 10 new TANGO tokens are created for each block.

• Funding methods

You can conduct P2P trades on this DEX, with liquidity supplied by other users. For this, you need to hold an adequate number of coins in your wallet.

• Wallets supported

Before you can conduct token swaps, you must connect your wallet to the exchange. First, you need to install the MetaMask extension. Then, you can connect any wallet compatible with MetaMask.

How does TangoSwap work?

On this exchange, you can perform the following tasks:

1. Swap tokens

One of the main functions of this platform is token swap. You need to select the coin you wish to swap and the one you wish to receive. It is possible to set the transaction deadline and the slippage tolerance.

2. Pool liquidity

You can add liquidity to pools created by other users and decentralized apps. By doing so, you can get SLP tokens that represent your share of the pooled assets. You can reclaim your funds whenever you wish. If the pool does not exist, you can simply create it by setting the initial exchange ratio.

3. Yield farming

There are two types of yield on this platform, namely protocol usage, and network tokens. You can find a token pair you wish to hold and then use them to stack two types of yield on the exchange. By staking tokens in the TangoBar, you can get xTANGO tokens. This particular token accrues value from the platform, which makes it worth more than TANGO. 

What can you buy on TangoSwap?

This DEX works on smartBCH, which is a sidechain of Bitcoin Cash. It supports Web3 API as well as Ethereum EVM, providing excellent throughput for decentralized apps. Some of the most popular tokens on this platform include TANGO, WBCH, flexUSD, FLEX, ARG, SPICE, KTH, LAW, ORB, and CATS.

Is TangoSwap safe?

The MasterChef contract of this exchange has a 3-day Timelock. This means users have adequate time to monitor the changes and react accordingly before they are finalized. The DEX has undergone an audit conducted by 0xGuard. Only one high severity issue and one medium severity issue were found during this audit.

User reviews

At this moment, there are no user reviews for this DEX platform on third-party websites. This tells us that it does not have a large user base.

TangoSwap fees, compatible wallets, and transactions

There is a 0.3% fee for trades conducted through this platform. Out of this, 0.25% goes to the liquidity provider pool, and 0.05% is added to the TangoBar pool as LP tokens. This DEX supports all wallets compatible with MetaMask.

What are the ways to trade on TangoSwap?

To trade tokens on this platform, you can either use the Swap or the SmartSwap feature. You just need to select the From and To tokens, slippage tolerance, and transaction deadline. By toggling expert mode, you can conduct high slippage trades. SmartSwap offers the best price by aggregating liquidity from various sources. This is suitable for larger trades where a single source of liquidity is unlikely to offer you the best price. 

Customer support

There is no official contact information for the support team. However, you can join the TangoSwap community on Telegram. This group currently has 1085 members in total.

Should you trade with TangoSwap?