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Whaleswap reviews

Decentralised exchange.

Reviewed by Yunis
12 June 2023 (Updated 15 April 2024)

Whaleswap Crypto Platform

WhaleSwap is a cryptocurrency platform that offers users an efficient and convenient way to buy and sell cryptocurrencies on blockchains. Not only swapping but also staking, farming, and trading are available for users on the platform. It has launched in early 2022 but we have no detailed information about the founders or the team behind the project.

WhaleSwap supports 8 different blockchain networks and these are Polygon, Optimism, Arbitrum, BNB Chain, Avalanche, Fantom, Kava, and Thunder Core. You can choose any of these networks and trade your tokens. In addition, WhaleSwap aims to extend the blockchains and support more networks.

The advantages of trading on WhaleSwap are innovative hybrid swap pools, low fees, low slippage, and cross-chain. By utilizing innovative hybrid swap pools, WhaleSwap aims to provide quick token exchanges with low transaction costs and minimal slippage.

So, with the wide variety of network chains WhaleSwap offers a user-friendly and efficient platform for buying and selling cryptocurrencies on the blockchain. Its hybrid swap pools, near-zero slippage, low costs, and instant swapping feature contribute to an easy trading experience for cryptocurrency users.

Other options on the platform are liquidity pools, farming, and staking. To mention the liquidity pools on the WhaleSwap, offer users the opportunity to contribute liquidity to two different pools for each token pair: stable and volatile pools. By adding tokens to a Liquidity Pool, users receive Liquidity Provider (LP) tokens and a share of the fees generated by the pool. This incentivizes users to provide liquidity, as they are rewarded with trading fees whenever individuals utilize their Liquidity Pool. Every time a trade occurs on WhaleSwap, the trader needs to pay a fee, a portion of which is allocated to the Liquidity Pool associated with the swap pair involved. Specifically, stable pools impose a 0.04% fee, while volatile pools have a 0.25% fee. Of these fees, 0.02% and 0.2% (respectively) are added to the Liquidity Pool for the specific swap pair used in the trade.

Also, WhaleSwap introduces an innovative feature called flash swaps, which enables users to withdraw the entire reserves of any ERC20 token on the platform without requiring upfront costs.

WhaleSwap offers users farming that allows them to earn POD tokens while supporting the platform by staking their LP (Liquidity Provider) Tokens. Yield farming, in particular, can provide more attractive rewards compared to traditional pools. However, it comes with potential risks, and important to understand the concept of Impermanent Loss before farming.

To earn free tokens on WhaleSwap in an easy and safe way, you can try Staking Pools. When you stake your POD tokens which is the native token of WhaleSwap you earn free tokens in return. This action allows users to passively generate rewards by contributing to the WhaleSwap ecosystem.

In POD Staking Pool, users have two options: Flexible and Locked Staking. The Flexible Staking option allows users to have more control over their staked tokens, enabling them to withdraw them at any time. On the other hand, in the Locked Staking users have to lock their tokens for a specified period in exchange for potentially higher rewards.

As it mentioned before, POD is the governance token in the WhaleSwap ecosystem. Moreover, there is no hack or exploit in the history of WhaleSwap.

Pros

tick $1,551 USD currently invested (TVL)

Whaleswap Staking Yields

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Whaleswap Key Data

Company
Decentralised tick Yes

Useful Links

Whaleswap Contact Details

https://whaleswap.finance/

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