Binance Chain-Based mostly Dex “Palmswap” Pronounces Its Testnet Launch Date – Benzinga – Benzinga

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ZUG, SWITZERLAND / ACCESSWIRE / December 22, 2021 / Palmswap, the first decentralized perpetual trading platform on BSC, has announced that the Testnet launch will take place on January 15, 2022 with a 1 million token airdrop event for its attendees. Your whitelist event will begin on January 7, 2022.

As a Switzerland-based Defi project, Palmswap aims to enable cheap permanent trading via the Binance Smart Chain (BSC) network. For many traders, trading in the Ethereum network is almost impossible, especially for users from developing countries, due to the high transaction fees.

However, Palmswap is committed to solving this problem by offering users the lowest possible transaction fee rates through its use on the Binance chain.

Uniswap established the decentralized spot market, Pancakeswap recognized the gap in the market at BSC and Uniswap received 24.58 million in traffic.

In the Ethereum network there are pioneers like dydx who have proven the demand for this market. Therefore, the future of BSC-based palm swap is theoretically very likely compared to the pioneers from the decentralized spot market.

what is Open-ended trade contracts?

Perpetual contracts are a type of derivative trading product brought to the market by Bitmex. Perpetual allows traders to speculate on the future price development of an asset by either using leverage by either buying (going long) or selling (going short).

How different is palm swap?

Palmswap is confident that it will not only offer perpetual trading on a decentralized basis at the same level with no differences from centralized pioneers, but users can also receive free tokens by trading with Palmswap. And everyone can interact with Plamswap by simply connecting their wallets to the decentralized perpetual exchange. Their roadmap shows their unique plans like the introduction of decentralized hedge funds where traders can trade with no risk to either party for their communities as they aim to be one of the leading debs going forward.

trade

Trading on Palmswap is smooth and hassle-free. Users do not need to register or create an account, this eliminates the kyc process, once on the Palmswap platform, users can immediately start trading long or short positions on various assets. The connection time of the wallet until the trade is only 3 seconds. No deposit required, just plug in your wallet and start trading.

Trading cycles
Invest time trading the log to get free tokens. 270 million PALM will be distributed to active traders on the protocol, of which a total of 20,000,000 PALM can be earned in trading cycle 1 for free by trading on the exchange before tokens are released. In this way, active traders benefit from the early bird advantages of securing tokens before someone else does.

Tokenomics
The PALM token is a governance token that is intended to facilitate and promote the decentralized administration of the protocol. The ecosystem focuses on governance, trade rewards, staking and farming and is designed to drive future growth and decentralization of the protocol.

The upcoming launch of the Testnet is an important milestone for the Palmswap network and provides an important opportunity for Palmswap to optimize and fine-tune the network prior to the launch of the main network next month.

PalmSwap has just launched two $ 10,000 community incentive campaigns, from which 200 community members will be selected over the next three weeks and $ 100 awarded to each member.

Air drop: https://twitter.com/Palmswaporg/status/1472189353833209857)
Website: palmswap.org
Community: https://same.ee/palmswap
Palmswap testnet and whitelist: https://docs.palmswap.org/testnet)

SOURCE: Palm swap

View source version on accesswire.com:
https://www.accesswire.com/679070/Binance-Chain-Based-Dex-Palmswap-announces-its-date-for-its-testnet-release


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