The time has come to announce that the Palmswap Hybrid Exchange is planned to go live on 25th October 2022.
We managed to launch the Hybrid exchange earlier than the on-chain DEX and will explain in that article what differences both of them have and which features are available and planned to release soon.
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Hybrid Exchange: a mix of on-chain and off-chain environment 🗂
A hybrid cryptocurrency exchange is a trading platform providing customers with access to private keys and enabling trades at low trading fees. The platform characterises transparency, swiftness and scalability.
On-chain: The on-chain contract will include a mapping of wallet addresses that will be used as an off-chain authenticator. This ensures that when a user withdraws funds from an off-chain vault with a key that belongs to him, only that user can control those funds with his wallet.
Furthermore, the on-chain contract naturally handles the registration, deposit and withdrawal of cryptocurrencies to/from the system and also contains the obligation to the full balance of the system located in the vault.
Off-chain: The off-chain logic handles trades, liquidations, transfers, deleveraging, and updates oracle prices. It stores the total account balance of all users and regularly provides proof confirming the validity of changes in the account balance taking into account the users’ transactions.
Fully on-chain DEX: an Exchange fully built on smart contracts ⛓
The Palmswap on-chain DEX uses dvAMM for settlement and meets the needs of small to medium-sized traders who will be able to trade 100% on-chain. You can trade with low slippage and enjoy the secured liquidity benefits of vAMM.
Like Pancakeswap, traders can trade with the (dynamic Virtual) AMMs without needing counter-parties. The dynamic Virtual AMMs provide guaranteed on-chain liquidity with predictable pricing set by constant product curves. The dynamic Virtual AMMs are also market-neutral and fully collateralized.
Key features like Order Types can be used through the implementation of smart wallets into the platform — integrated for the first time on BNB smart chain by Palmswap.
Every trade that is placed on the on-chain DEX has to be confirmed with Metamask, as every transaction is executed „on the blockchain“. This means traders, have all-time access to their funds over the smart contract without any centralized party involved.
Differences between on-chain DEX and️ Hybrid Exchange
Why are we launching the Hybrid earlier than initially planned?
The hybrid infrastructure is emerging from a partnership that will be announced shortly. We are working on our own hybrid exchange which is expected to be released in Q1 2023.
Partnership Advantages 🤝
— Earlier accommodation for larger traders
— Earlier token burn initiation
— Earlier access to hybrid exchange
Already possible features on Hybrid Exchane ✅
— Deposit BNB, USDT, BUSD, USDC or vUSDT (Palm soon)
— All order types are available
— Leverage up to 200x or cross — high risk
— Trade Perpetual Contracts (without expiring date)
— Live Markets/Trading pairs: 20+
— Single or multi-asset trading
Future Features that are going to be released after launch
Invite & earn 👥*
With the first-of-its-kind affiliate- & grant program you can earn up to 40% of paid fees from your referrals on our Platform. In addition, your referrals receive a 10% fee discount using your link.
*maybe already released at launch, last tests are performed
Trade to earn 📈
Based on the volume you’ve traded and the fees paid you will receive Palm Tokens, every week PALM tokens will be distributed in so-called Tradingcycles.
Copy-trading 🔗
You want to follow trades of the best Traders on the Platform or your friends? This will be possible with copy-trading on Palmswap, not far away.
Decentralized funds 📝
The fund manager can create a pool and everybody can deposit in it. He will manage the assets and trade for you but cannot withdraw them, only the deposit address can. The manager takes a performance fee in % and needs to perform positively for 30 days long to receive a profit share from the pool.
Governance Portal 🗳
Use the Governance Portal to add new markets or propose or vote on other changes in the protocol.
These are only a few features that we have planned. Only a few days left until we finally take off!
Get In Touch with us
🌐 Visit us at palmswap.org 🌐
📩 Email us at office@palmswap.org 📩
💬 Connect with us on Discord 💬
✈️ Join our Community on Telegram ✈️
👾 Find us on Twitter — @Palmswaporg 👾
