Onsen Swap Crypto Platform

Onsen is a fork of different protocols, including Uniswap V2 and Stable pair protocols. While Uniswap now has V3, the main difference lies in yield autocompounding. V3 requires users to manually claim rewards and add them back to the liquidity, while V2 auto-compounds rewards, generating higher yield. Users seeking better yields on crypto may consider using V2 for a higher return. Onsen is not open-source, and its code is not publicly displayed on the website. Comparison tools can be used to find the best yields on crypto.

Zero Knowledge technology is a promising feature in the blockchain industry, gaining momentum and hype. ZkSync is a zero-knowledge-based Ethereum layer-2 solution with a thriving ecosystem. Similar momentum is observed with other layer-2 projects, such as Polygon, Scroll, zkSnark, and Linea chain. The implementation of zk technology on the blockchain appears to have a bright future.

Onsen Swap has its utility token called ON, which also serves governance purposes. The protocol aims to be a community-driven project and grow its audience. The total supply of ON tokens is 1,000,000, with 25% of the supply used to provide liquidity on the DEX. Almost half of the tokens are planned to be allocated to the team and contributors.

The positive aspect is that there are no reported hacks or exploits regarding OnsenSwap or its previous form, AegisDEX. DeFi is a rapidly growing industry that is still in its early phase. While many DeFi projects provide audit reports, some have still experienced unwanted incidents. Onsen does not provide an audit reportor team KYC on the website. Having an audit report is a good sign of transparency and security when compared to crypto exchanges. Investing in early-stage crypto projects can be highly rewarding but also carries the risk of losing all capital. Crypto exchanges with a considerably long history often appear to be more secure investment options.

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