CoinSwap Space Introduce ETH-BETH To Further Increase DeFi Options For Users Of Their BSC DEX
The new pair offers investors a very attractive prospects for investors looking to store their Ethereum
TALLINN, Estonia, July 6th, 2021 - Despite the recent volatility in the crypto market, the DeFi revolution continues at pace. Nowhere is this more clearly seen than in the activity of the CoinSwap Space team as they add more pairs and features to their Decentralised Exchange.
This week, on Monday July 5th at 5 p.m. CET, CoinSwap added an ETH-BETH pair to their DEX. The pair is the latest in a long line of new features added to CoinSwap since its launch on April 30th.
CoinSwap is a project that's committed to supplying a suite of easy-to-use DeFi features to the average investor. CoinSwap utilizes an automated market maker to allow users to yield farm, add to liquidity pools, and stake tokens all on one simple DEX.
As part of their vision of making DeFi accessible to everyone, CoinSwap is able to offer some of the very lowest transaction fees on the Binance Smart Chain. At an average of $0.20 per transaction, CoinSwap can offer even lower fees than PancakeSwap.
Some of the features on CoinSwap that make DeFi hassle free, include the ability to mass stake and mass harvest all of a user’s investment. This means that with one or two clicks an investor can take all of their returns across all of their different liquidity pools and either compound the returns or simply transfer them to their wallet
This new pair offers investors the ability to add to a liquidity pool featuring BETH, a tokenized version of Ethereum that exists as part of one of the first stages of ETH 2.0. Because of how complex the prospect of updating the second most popular blockchain in the world to a proof-of -stake model is, these updates had to be introduced gradually. BETH is part of the Beacon Chain, which is the first in a number of different updates that will eventually comprise ETH 2.0.
Because the liquidity pool comprises both ETH and BETH, two tokens whose value is identical, investors can earn returns on their ETH without exposure to impermanent loss. This is of particular value if the prospect of a crypto bear market comes to fruition.
The large swings that would result from such a scenario mean that impermanent loss could prove a big problem for investors. An ETH-BETH liquidity pool is an opportunity for investors to put their ETH away long term and reap the rewards when the next bull market comes around.
Investors In this pool will earn their returns in CoinSwap Space’s native CSS token. The CSS token fulfils a similar utility to PancakeSwap’s native CAKE token.
A portion of CSS is burnt every time many different actions are carried out on CoinSwap. However unlike CAKE, CSS has a hard cap of just 19,999,999 which, together with the burning process, makes CSS a deflationary token. This should provide stability to the token’s price even in the instance of a bear market.
CoinSwap is audited and approved by one of the most trusted security leaderboards in the crypto sphere, Certik. CoinSwaps smart contracts and software are tested by Certik’s industry-leading Formal Verification Tools to ensure they meet the highest security standards. Few decentralized exchanges are verified by Certik which further enhances CoinSwap’s already attractive product.
About CoinSwap Space
CoinSwap Space is a suite of DeFi services built on the Binance Smart Chain. It primarily features a decentralized exchange founded on the automated market maker model (AMM) that provides the lowest fees on BSC. CoinSwap users can earn the deflationary CSS token by staking and farming capital. Users also benefit from smart routing, guaranteeing maximum yields and the lowest slippage available.
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