WAPSWAP: KING OF CHAIN BALANCING TOKENS
Token swaps have been one of the few lagging points in the Decentralized Finance world, and quite a sticky point for the niche adopters.
WapSwap brings the first of its kind Chain Balancing Token on Binance Smart Chain & Polygon Chain Partners with CertiK. To simplify the things for its users, WapSwap has created a whole new Cross-Chain swapping protocol. It offers a dedicated system for various financial applications to manage the top blockchain networks. The system offers a Peer 2 Peer network of computers rather than being dependant on a central computer. By this chain balancing token system, integrated blockchains for cross-chain swapping can be created.
Unlike the old traditional system that was rigid and ambiguous, WapSwap is a one-stop for integrated blockchain building. It has various benefits over the traditional financial services. It is a lucid system that provides complete transparency throughout the network as the complete information about the distributed ledger about all the activities that have taken place on a blockchain network is available to everyone. This feature of using smart contracts and distributed systems makes the whole financial application or product simpler to understand and much less complicated than the traditional one. For instance, if two parties are looking to exchange cryptocurrencies or any of their digital assets, the Smart Contracts Digital Agreements offer a smarter, uncomplicated and more secure way to carry forward the finance.
What To Know About Cross-Chain Swapping
Although the cryptocurrency market keeps swinging up and down, the digital assets can still be considered fruitful. It offers a modern way of investing and earning. However, in a condition when an investor possess tokens on one blockchain and is looking for another that is eligible on a different blockchain, cross-chain swapping can come for the rescue. In the other various platforms that offer cross-chain swap functionality, the total quantity of all chains may exceed the total and max supply, while with the WapSwap Chain Balancing Token, the protocol will maintain the total supply of tokens that are being integrated across different chains.
WapSwap - Objectives, Strategies and Roadmap
Since the commencement of WapSwap, the company has been planning and building up a team of professionals for the development of a versatile portal for cross-chain swapping. The platform has undergone various testing procedures for ensuring safety and security of use with the help of its security partners. The coming ventures of the company would include:
Adding up of new liquidity pools
New cross-chain integration for cross-chain swapping
New projects will be introduced with strategic and fair launch pad
Introduction of Android Wallet and IOS Wallet for swift and convenient transactions
And much more …
Working in Partnership with Certik
A recognized security-focused ranking platform, CertiK is one of the proud partners of WapSwap in analyzing and monitoring crypto currency and blockchain process. CertiK has been in the industry since long conducting security audits using its formal Verification Technology. WapSwap ensures highest security assurance to its users with its resilient partnership with CertiK.
Talking of security, the application has been audited by respected industry professionals like CertiK. These professionals are well aware of the security vulnerabilities of the platform and thus have produced a safer and more secure way of assets exchange.
How the Chainswap Services Work:
Burning - The very first step towards a successful ChainSwap is the burning process. At this point, the amount of token to get swapped is inspected and permission is obtained to shift it on to the other specified chain using the ChainSwapToChain() Event.
Interacting - When the required permission is obtained, the event is released further with the help of a signal transfer to notify the other chain about the amount specified from the first chain.
Claiming - The tokens encountered from the initial chain block would need to be broadcasted to the other chain blocks for claiming the tokens.
Minting - When all the previous steps are ascertained, the ChainSwapClaim() event is recorded into the destination chain.
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