Polkaswap is an open-source, non-custodial decentralized exchange (DEX) protocol. Founded in July 2020, Polkaswap had its soft launch in April 2021 with a focus on interoperability.

Running on the SORA network, which is built with Substrate, Polkaswap is natively compatible with the Polkadot and Kusama ecosystem, providing scalability and security.

The Polkaswap project was initiated by SORAMITSU in June 2020, with a grant from the Web3 Foundation.

Currently, Polkaswap is a fully decentralized project. Users can submit Request for Proposals (RFP) to tender the development and implementation of functions they would like to have in Polkaswap and the SORA network.

Teams of developers with the expertise to implement these changes can also propose them, and if approved, their code could be incorporated into a runtime upgrade, with rewards provided for their work.

Learn how to submit an RFP here.

Polkaswap is a DeFi project built on the Polkadot ecosystem, designed to support faster trading without intermediaries. As a DEX, Polkaswap offers outstanding features.

Unlike many DEXs built on Ethereum, Polkaswap leverages the Polkadot network, establishing interoperability between multiple blockchain bridges. This allows users to access ETH and ERC-20 tokens, DOT and KSM, BTC, BSC, and potential future integrations.

Being built on the Substrate network, Polkaswap benefits from cheaper gas fees compared to other networks.

A unique feature of Polkaswap and the SORA network is the implementation of a Token Bonding Curve, a smart contract that manages XOR supply. It provides deep liquidity for large trades, reduces the effects of pump-and-dump manipulation attacks, and has positive effects on the ecosystem.

Additionally, users can earn from their assets on Polkaswap by supplying liquidity to its pools. These features have earned Polkaswap the reputation of being the Uniswap of the Polkadot ecosystem.

PSWAP is the native token for Polkaswap. The tokens are minted based on a deflationary model on the SORA network, which burns more tokens than it mints. Polkaswap uses a 0.3% fee on every swap to buy back and burn PSWAP tokens.

Since its launch, 90% of burned PSWAP tokens have been re-minted and allocated to liquidity providers. However, by 2025, only 35% will be allocated back to liquidity providers.

As of October 2021, approximately 36% of the total supply of 10 billion PSWAP tokens is in circulation, which amounts to 3.65 billion PSWAP tokens.

PSWAP tokens are deflationary by nature, as more tokens are burned than minted. The circulating supply of PSWAP will never exceed 3.65 billion.

The distribution of PSWAP tokens is as follows: 35% as liquidity rewards (vested), 30% at initial release development, 25% for token bonding curve rewards (vested), 6% rewards at launch (SORA farm game), and 4% for market-making rewards (vested).

Polkaswap leverages the security of the SORA network. Built on Parity Substrate, Polkaswap provides a multithreaded and scalable architecture.

Learn more here.

Currently, Polkaswap (PSWAP) cannot be directly purchased with cash. PSWAP can be bought by swapping cryptocurrencies on exchanges. You can purchase PSWAP on Polkaswap, Uniswap (V3), Uniswap (V2), 0x Protocol, 1inch Exchange, and Bilaxy using your existing crypto.

Learn more about Polkaswap in our deep dive here.

If you're new to cryptocurrency, you can read more about how to enter the market and buy BTC, PSWAP, or any other token. Check out the details here.

Telegram group: https://t.me/polkaswap

Github: https://github.com/sora-xor/polkaswap-web