ViperSwap is a cryptocurrency DEX platform that was launched on March 8, 2021. Like other swaps under VenomDAO, the release of this system will not include presales, unfair allocations to early investors, and presales. The intention of this platform is to provide a cross-chain multi-product DeFi DAO.
Here are the main features of the system:
- Cryptocurrencies supported
On this platform, you can effortlessly swap between tokens. Some of the supported tokens include ONE, VIPER, WAGMI, 11INCH, 1AAVE, 1BAL, 1COMP, 1CREAM, 1CRV, 1DAI, 1DSLA, 1ETH, etc.
- Native token
The native token of this DEX is VIPER. By holding this token, you acquire the right to participate in governance votes. This token has a hard cap of 500,000,000 tokens and features an extensive lockup model where 5% of earned tokens are directly available, while 95% will be released later.
- Funding methods
To conduct swaps on this platform, you need to have enough tokens in your wallet. If you don’t, you need to buy them from a centralized exchange first.
- Wallets supported
You must connect your wallet before you can conduct swaps on this platform. It supports wallets like Metamask, Coinbase Wallet, Fortmatic, Portis, and those that are compatible with WalletConnect.
How does ViperSwap work?
You can perform the following actions on this platform:
- Swap tokens
The main functionality of this platform is to let users swap between tokens. You can change some of the transaction settings and enjoy a low trading fee.
- Add liquidity
By adding liquidity to liquidity pools, you can earn VIPER tokens. These let you take part in governance decisions, and you can also stake them for rewards.
- Stake Viper in the ViperPit
This is a single staking pool where the PitBreeder smart contract regularly purchases VIPER tokens using earned LP fees and rewards the proceeds to everyone staking in the ViperPit based on the pool share. When you stake VIPER, you get xVIPER. The latter appreciates with time relative to VIPER, so you can earn long-term rewards.
- ViperSwap analytics
Here, you get Uniswap-style token analytics, including TVL, token prices, and other useful data. By studying the liquidity and volume charts, you can make more informed decisions.
The governance decisions are carried out using a governance forum for discussions and proposal signaling. Harmony’s Snapshot fork is used for the final on-chain voting process. Users who hold more VIPER tokens enjoy more voting power.
What can you buy on ViperSwap?
This DEX platform runs on the Harmony blockchain, which is governed by the ONE token. It is a scalable and secure chain allowing for irreversible and trustless transactions. Some of the popular tokens on this platform include ONE, Euphoria, Dai Stablecoin, Viper, UNITE, USD Coin, Comfy, USHARE, etc.
Is ViperSwap safe?
The smart contracts of this platform were audited by Solidity Finance. No critical or major issues were found during this audit. There are multiple URLs for this DEX to allow for redundancy if any of them were to go down. Thus, you will always have constant access to your investments and funds.
We were unable to find any user reviews for this DEX on third-party websites.
ViperSwap fees, compatible wallets, and transactions
The swap fee on this platform is only 0.3%. Withdrawal fees range from 25% to 0.01%. If the user withdraws in the same block, they have to pay a 25% slashing fee. The purpose of this is to prevent abuse from flash loans. ViperSwap supports wallets like Fortmatic, Portis, Coinbase Wallet, Metamask, as well as WalletConnect compatible devices like Ledger, Tokenary, Infinity Wallet, Wallet 3, RICE Wallet, KryptoGO, Ambire, SecuX, and KEYRING PRO.
What are the ways to trade on ViperSwap?
To trade tokens, you have to navigate to the swap page and then select the two tokens. From the settings menu, you can change the slippage tolerance and set the transaction deadline. By toggling expert mode, you can bypass confirmation modals and conduct high slippage trades. You can also restrict swaps to direct pairs.
Unfortunately, there is no dedicated support team for this DEX. There are channels on Telegram and Discord where you can seek help from the community.
Should you trade with ViperSwap?
ViperSwap summaryViperSwap summary
- Low trading fees
- Advanced analytics
- Attractive rewards for liquidity miners
- No support team