WigoSwap Decentralized Exchange Review

WigoSwap is a DeFi platform that was designed based on the Fantom network. The exchange follows the DeFi principle. So, it is an automated market maker (AMM).This means that we can swap tokens without registration. 

WigoSwap overview

We have documentation where developers provide us with explanations about the platform’s features.

• WigoSwap is a Decentralized Exchange.
• We can stake, farm, buy, and sell NFT tokens.
• It’s possible to be a liquidity provider for other traders.
• The platform provides us with all-inclusive financial services that operate in a totally decentralized way. 
• There is a stacking platform and liquidity pools.
• We can be a participant of the DAO Governance.
• The developer team has a huge experience in traditional and decentralized finance.
• The AMM-based platform allows us to have fast, secure, and decentralized trading experience.
• We can rely on high ROI levels.
• The Fanton network was designed in a user-friendly way to help us to adapt to using it.
• The system operates as an AMM on the Fantom Blockchain.
• All operations will be performed on our wallet. 
• So, we may not trust our assets to the third-party services. 
• There’s a 0.19% trading fee for swapping. 
• 0.18% goes to pools. 
• 0.01% is used in a gamified brining mechanism. 
• Depositing in pools provides us with pool’s tokens. 
• The fees are added on a daily basis to the proper pools. 
• We can use WOG-LP tokens to have higher yield. 
• Liquidity providing can be involved in losses called – impermanent losses. 
• They can happen when the price of the deposited assets was significantly changed. 
• ​There are formulas that show how the Annual Percentage Rate (APR) is calculated.

How does WigoSwap work?

The exchange provides us with a common list of services. Wigoswap allows for all the following:

1. Trading FRC20 tokens.
2. Staking tokens to get even more as rewards.
3. Earning trading fees by providing liquidity.

What can you buy on WigoSwap?

• We are allowed to purchase tokens that are supported by Fantom network.
• There’s a possibility to participate in liquidity pools.
• We are allowed to stake our coins to get even more as rewards.

Is WigoSwap safe?

The platform looks safe because it’s possible to work directly from our wallet. So, we can expect that our account won’t be exploited. Anyway, there are risks of exploiting liquidity pools or price changes that will make our depositing activities unprofitable.

WigoSwap fees, compatible wallets, and transactions  

The developers charge 0.19% fees for every swapping transaction. We’d like to note that those fees are low. Other services ask for 0.2-0.35% fees for every transaction. We can expect that 0.18% from 0.19% goes to liquidity providers.

• It’s possible to work from the following wallets: Metamask, WalletConnect, Trust Wallet, Safe Pal, Huobi Wallet, Math Wallet, Token Pocket, Coin 98, and Coinbase wallet. The list of possible wallets is pretty extended. So, there are enough options to choose from.
• The developers claimed that transactions will be performed lightning quick. So, this means that we can get our tokens swapped within several seconds.

What are the ways to trade on WigoSwap?

We can swap tokens directly from our wallet. This allows the DeFi principle that is followed by the platform. So, no registration is needed.

Customer support

The developers provide average support via Telegram and Twitter functionality. We have to expect to get our questions answered in several hours, not more.

Should you buy a WigoSwap token?