San Francisco, United States, December 23th, 2023, Chainwire - Where decentralized perpetual trades are more transparent and easy to use, in an ecosystem full of exciting features
Picture a world where the traditional rules of the game don't bind cryptocurrency trading. This is where perpetual decentralized exchanges (PDEXs) come into play, a relatively new kid on the block in the grand scheme of DeFi. The market is constantly changing, and perpetual DEXs have been a game-changer, growing their market cap beyond $2 billion. But it's not been a walk in the park.
Despite their innovative approach, these platforms have been nudging for space in a market heavily dominated by CEXs. It's like David versus Goliath – with perpetual DEXs holding around 3% of the total trading volume, they've got their work cut out for them.
There is where Swych PDEX struts onto the stage. In a world where GMX and dYdX have been making waves, Swych PDEX isn't just following the trend; it's aiming to set a new one. Think of it as a blend of ambition and technology, gearing up to ride the wave of how leveraged trading should be. It’s not just about joining the race; it’s about redefining it.
In the end, it's about changing the game – and Swych is here to play.
Introducing Swych PDEX
Swych’s perpetual DEX focuses on risk management and innovative mechanics, tailored for both beginners and expert traders.
Image from Swych PDEX
Key Insights:
- Clean interface and is user-friendly.
- Fully integrated TradingView chart.
- Tradable assets include BTC, ETH, and BNB.
- Ability to set take profit and/or stop loss when entering a trade.
- Ability to set take profit and/or stop loss after entering a trade.
- Ability to add/remove collateral while in a trade.
- Full position, order, and trade history details.
- Mobile access.
- Paper Trading mode with live pricing data.
- Market and Limit orders.
- PnL is the Net PnL, so what you see is what you get.
- No KYC required for users
Understanding fees and real yield
Swych PDEX operates on a real yield fee system, designed to sustain the platform while rewarding its users. This system not only ensures the smooth operation of the exchange but also contributes to the generation of real yield for the investors.
- Position Fee: 0.1% for perpetual trading.
- Liquidation Fee: A nominal $5 charge.
- Dynamic Borrowing Fee: Calculated based on borrowed assets with a cap of 0.01% per hour.
- Execution Fees: Swych PDEX maintains minimal execution fees, set at 0.0025 as the maximum amount.
The concept of real yield
The real yield on Swych PDEX refers to the actual earnings users receive from the exchange, derived from the various trading fees collected. Unlike hypothetical or projected returns, real yield represents tangible income generated from platform activities. This yield is a crucial aspect of Swych PDEX’s business value proposition, as users not only engage in trading activities but also become beneficiaries of the platform's success through real yield distribution.
Focused on balanced growth
This distribution model is a cornerstone of Swych PDEX's strategy to create a sustainable and thriving ecosystem. It balances the need to cover operational costs and invest in future development to provide tangible benefits to its community and stakeholders. Note that the percentage weights above may change and move more rewards towards stakeholders. As the platform continues to grow, this approach positions Swych PDEX as a forward-thinking player in DeFi, prioritizing both platform stability and user rewards.
Trading incentive program
Swych PDEX will soon introduce another initiative, designed to reward traders based on their trading volume. This volume-based promotion is a feature that incentivizes active trading on the platform, providing tangible rewards for traders who engage frequently in market activities. Here's a closer look at how this program works:
Mechanics of the Volume-Based Promotion
- Incentive Structure: For every $25,000 in trading volume, the trader is rewarded with $10 in USDT. This reward system is designed to encourage higher trading activity, offering a direct monetary benefit to active users.
- Calculation of Trading Volume: The trading volume is determined by the formula: volume = collateral x leverage. This means the volume is calculated based on the amount of collateral a trader uses, multiplied by the leverage applied to their trades.
This program is especially appealing to high-frequency traders or those who trade with significant volumes, as it offers an additional financial perk on top of potential trading profits. It's an innovative approach that not only fosters increased trading activity on the platform but also adds an extra layer of reward for Swych PDEX users.
Extra features
Swych PDEX is not just resting on its current offerings but is actively expanding its features to enhance user engagement and provide additional value. The introduction of NFTs and a focus on educational resources are steps in this direction.
Swych Academy and Educational Material
- How-to Guides: Additionally, Swych PDEX provides accessible how-to guides, available here. These guides offer step-by-step instructions on various platform features and trading methodologies, making it easier for users to navigate and utilize the platform effectively.
- Swych Academy: Aimed at beginners and experts alike, this is risk management 101 and it's accessible here. The academy is specifically appealing for users to learn and study about trading at their own pace. It covers essential topics such as understanding candlestick charts, risk management, chart patterns, general trading information, and advanced trading techniques. This broad spectrum of content ensures that all users, regardless of their experience level, can find relevant and helpful information. It's designed to empower traders with knowledge, enhancing their decision-making skills and trading acumen.
NFT Integration: A new way of earning
Shortly, Swych PDEX plans to integrate NFTs into its ecosystem. These NFTs will not just be digital collectables but designed to offer practical utility within the platform.
The unique aspect of these NFTs is their ability to provide additional avenues for earning real yields. This feature will potentially open new earning opportunities for users, leveraging the popularity and innovative aspects of NFTs to enhance the overall trading experience on the platform.
This upcoming feature and all educational resources underscore Swych PDEX's commitment to continuous improvement and user empowerment. The integration of NFTs and the focus on comprehensive education testify to the platform's dedication to providing a holistic and enriched trading experience.
SWYCH Token: The keystone of the ecosystem
Swych has and will have a wide range of products like liquidity pools, the perpetual exchange we mentioned above, staking, and yield farming solutions, and all of these will be powered by the Swych token, $SWYCH. The token acts as the cornerstone, intertwining various elements, and unique functionalities in the ecosystem to provide a comprehensive experience for the user.
Utilities
- Liquidity Pools: Users will benefit from liquidity pools on Swych, where they can deposit funds and earn from the trading fees generated, receiving LP tokens as a stake in the pool.
- Phase Two: The next phase of the Swych Token will focus on enabling users to generate real yield without additional fees, through staking pools.
- Real Yield Staking: This feature will offer users the opportunity to earn real yield based on their staking positions.
- NFTs: An opportunity that will offer unique and utility-focused NFTs, for additional rewards and engagement opportunities within the ecosystem.
- Lottery, Launchpad, and More: An enhanced lottery system, an accessible, permissionless launchpad, and a focus on listing diverse tokens, ensuring the safety and interest of investors.
- Incubator Project and Gamification: Looking further ahead, Swych will introduce an incubator program to support new projects and integrate gamification elements into its ecosystem.
About Swych Finance
Swych PDEX presents a comprehensive and user-friendly platform for decentralized perpetual trading. With its intuitive easy-to-use interface, flexible trading options, and innovative features like the paper trading platform and real yield generation, Swych PDEX stands out as a versatile choice for both novice and experienced traders in DeFi. The integration of the SWYCH token further enhances the ecosystem, offering users a unified and rewarding trading experience.
Swytch invites users to explore the possibilities within Swych PDEX and join a growing community of savvy traders. Whether users are looking to dive into decentralized trading, participate in liquidity pools, or explore upcoming features like NFT integration, Swych PDEX offers a secure and dynamic platform to meet their trading needs.
Official Links
Main Website: https://swych.finance/
Swych PDEX: https://trade.swych.finance/#/trade
Documentation: https://docs.swych.finance/start-here/introduction
X: https://twitter.com/SwychFinance
Discord: https://discord.gg/swych
Contact
Swych Finance
Swych Finance