Swaperry PERRY
About
What Is Swaperry (PERRY)?
Swaperry is a decentralized exchange (DEX) designed to be highly performant, transparent and feature-riched to asset traders. It is built on top of the Polkadot ecosystem, which aims to offer scalability, noticeably faster transactions and cheaper fees.
PERRY is the native utility token that is used for:
- Unlocking more advanced trading functionalities for superusers.
- Sharing revenues from transaction processing fees.
- Participating in governance voting.
Swaperry’s current products include:
- A user-friendly, AMM-based exchange with advanced features, previously only available on centralized exchanges, like limit order, options, derivatives.
- Cross-chain support within the polkadot ecosystem and eventually externally to other popular blockchains (bitcoin, ethereum, etc).
- A suite of tools that help traders analyze the market, aggregate prices and make informed decisions.
What problems do Swaperry solve?
2 types of exchanges currently exist on the market. Centralized exchanges (CEX) are traditional exchanges, powered by an off-chain system, and usually enable asset trading via orderbooks. Decentralized exchanges (DEX) are a new form of exchange that have been gaining popularity recently. Their decentralized architecture allows users to trade in a non-custodial, secured, and anonymous manner. Most popular DEXes employ an automatic-market-maker (AMM) approach to facilitate trading, as opposed to orderbooks.
While DEXes saw huge increase in usage the past few years, CEXes are still producing most of the trading volumes, because DEXes come at a price: 1) transactions are often delayed and slow, 2) most DEXes do not offer cross-chain trading, 3) user interface is more confusing, 4) advanced features like options, limits and margins, are non-existent.
Swaperry aims to be the next generation of DEXes, by solving all those 4 limitations. Taking advantage of Polkadot, a blazing fast & cost-effective parachain ecosystem, Swaperry employs intelligent algorithms and optimization techniques that make trading feel comparable to that of CEXes. Ultimately, it sets an ambitious but achievable goal to show the world that CEX is the past and DEX is the future.
Who Are the Founders of Swaperry?
Swaperry was built with passion by Phil Dang (CEO) and Tuan Nguyen (CTO), both of whom have a strong background in engineering.
Phil Dang, was a senior software engineer based in Silicon Valley. He worked at Facebook, followed by Google, for many years. He met and befriended Tuan Nguyen, a veteran engineer at U.S. Motorola, on a business trip in 2015. The two shared an excitement for blockchain technology, and later formed the Swaperry team in September 2019.
The project grew to become Swaperry, now with nearly 20 engineers, and a wide panel of established advisors, including founders of Rikkeisoft, PolkaFoundry, Kyber Networks and Tomochain.
More Info
How Many PERRY Tokens Are There in Circulation?
Swaperry plans to launch on mainnet in July with 10 million PERRY tokens created at genesis. Additional tokens are minted linearly over the next 5 years, to a total of 200 million tokens, to support the product, its development and future expansion.
The allocation of all tokens are as follows:
- 6% Seed Sale
- 16.5% Private Sale
- 2.5% Public Sale
- 9% Marketing & Listing
- 20% Team Founders & Advisors
- 6% Ecosystem
- 20% Liquidity Mining
- 20% Foundation
Where Can I Buy PERRY Tokens?
Swaperry is currently in its pre-launch phase so its tokens are not yet on the market. It is planning to IDO in June and IEO on popular exchanges in July.
Please check back later for updates.
AI Analysis
What is the Swaperry (PERRY) cryptocurrency good for? What are its main use cases?
As of my last knowledge update in October 2023, Swaperry (PERRY) is a cryptocurrency that primarily focuses on facilitating decentralized finance (DeFi) applications, particularly in the realm of swapping and trading tokens. While specifics can vary, here are some common use cases and features associated with cryptocurrencies like Swaperry:
Token Swapping: PERRY may be used on decentralized exchanges (DEXs) for swapping different cryptocurrencies without the need for a centralized intermediary.
Liquidity Provision: Users can provide liquidity to trading pairs on decentralized exchanges, potentially earning fees from trades made within those pairs.
Staking: Many DeFi tokens offer staking mechanisms where users can lock up their tokens to earn rewards over time.
Yield Farming: PERRY might be involved in yield farming initiatives where users lend their cryptocurrency in exchange for interest or additional tokens.
Governance: If applicable, holders of PERRY could participate in governance decisions, allowing them to vote on proposals that affect the project's future development and direction.
Cross-Platform Use: PERRY may facilitate interoperability between various DeFi platforms, allowing for seamless token transfers and exchanges across different protocol ecosystems.
Incentives: The token might be used as a form of incentive for users to engage with the platform or specific features, such as trading bonuses or reduced fees.
It's important to research the latest developments for Swaperry and understand its roadmap, partnerships, and community activities since the crypto space is rapidly evolving. Always refer to official sources, such as the project’s whitepaper and community announcements, for the most accurate and up-to-date information.
What blockchain does Swaperry use? Is it its own blockchain or built on top of another?
Swaperry operates on the Ethereum blockchain. It utilizes the Ethereum network to facilitate its decentralized exchange services, rather than having its own separate blockchain. This allows it to benefit from Ethereum's established infrastructure, security, and smart contract capabilities. If you're looking for more specific details about Swaperry's functionalities or tokenomics, I recommend checking their official website or documentation.
Is Swaperry programmable? Does it support smart contracts or decentralized applications?
As of my last knowledge update in October 2023, Swaperry is a decentralized exchange (DEX) primarily focused on providing liquidity and facilitating token swaps. However, it is not specifically known for supporting smart contracts or decentralized applications (dApps) in the same way that platforms like Ethereum do.
If Swaperry has undergone updates or developments since my last knowledge update, I recommend checking their official website or relevant community resources for the most current information regarding programmability, smart contract capabilities, or any new features they might have introduced.
How fast are Swaperry transactions? What is the typical confirmation time and throughput (transactions per second)?
As of my last update, Swaperry is a decentralized exchange that facilitates the swapping of various cryptocurrencies. However, specific metrics such as transaction speed, confirmation time, and throughput can vary based on several factors, including network congestion, the blockchain it operates on, and the protocols it uses.
In general, decentralized exchanges (DEXs) like Swaperry can have different confirmation times depending on the underlying blockchain technology. For example:
Ethereum-based DEXs: Confirmation times on the Ethereum network are typically around 15 seconds, but this can vary with network congestion. Throughput can be about 30 transactions per second (TPS), but actual performance can be lower due to congestion and gas fees.
Layer 2 Solutions: If Swaperry is built on a Layer 2 solution like Arbitrum or Optimism, transaction speeds and confirmation times can be significantly reduced to just a few seconds, with much higher TPS.
Other Blockchains: If Swaperry operates on a different blockchain (like Binance Smart Chain, Solana, or others), the confirmation times and TPS could be faster due to different consensus mechanisms. For instance, Solana can achieve thousands of TPS with confirmations in under a second.
To get the most current and specific metrics for Swaperry, I recommend checking their official website or social media channels for updates, or exploring blockchain explorers to measure performance directly.
How much data can I store on the Swaperry blockchain? Does it support on-chain data storage?
As of my last update in October 2023, the Swaperry blockchain is primarily designed for decentralized finance (DeFi) applications, and its focus is on facilitating transactions and interactions in the DeFi ecosystem. While some blockchains do offer on-chain data storage capabilities, the amount of data that can be stored and the specific features depend on the design and technical specifications of the blockchain itself.
Typically, blockchains have limitations on the amount of data that can be stored in a single transaction or on-chain due to concerns related to performance, scalability, and cost. Therefore, if Swaperry supports on-chain data storage, it would likely be limited in terms of size and cost per transaction.
For precise details about how much data can be stored, whether it supports on-chain storage, or any specific limitations, I recommend checking Swaperry's official documentation or community resources for the most accurate and up-to-date information.
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