AstroSwap is an Automated Market Maker (AMM), the very first one to trade Cardano tokens of the Velas chain. AstroSwap joins partners, WagyuSwap, as the fastest DEXs (Decentralized Exchange) around!
Decentralized trading on the newest DEX in the Velas ecosystem means you can do several things:
All without having to go through a Centralized Exchange. All trades on AstroSwap happen through interactions between our Exchange and your own wallet, so no KYC or invasions of privacy here.
You can only swap tokens on AstroSwap if there is enough liquidity of those tokens in the Astro Pools. If nobody has added liquidity for the token or tokens you want to swap, it will be impossible to complete a swap. AstroSwap plans to incentive users to provide liquidity to the Astro Pools. In return users will receive a portion of the trading fees when swaps are made. Plus users can stake those LP tokens in the Solar Farms to earn more $ASTRO.
Liquidity providers can earn $ASTRO by locking their LP tokens into a smart contract. This added incentive means to address the risk of impermanent loss that comes along with locking in your liquidity. (Please remember to always do your own research.)
Don't like the risk of joining a LP? No problem. Join our Astronauts to explore and stake the Galaxy. Its not rocket science, stake $ASTRO to earn $ASTRO.