Permaswap Lists $MAP, Urges Users to Contribute to New MAP/ETH Liquidity Pool
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Author: Adeola @ Contributor of PermaDAO
Reviewer: Henry @ Contributor of PermaDAO
In yet another move to strengthen its decentralised and distributed peer-to-peer trading network built on Arweave and guided by the storage-based consensus paradigm design, Permaswap has announced the addition of the $MAP token by MAP Protocol and a new liquidity pool which pairs the token with ETH.
Permaswap stated in a blog post announcing the listing of $MAP and a liquidity pool of $MAP/ETH that its objective will be to provide a seamless and secure experience for users, highlighting the user-friendly interface and cutting-edge technology as the strengths of its platform.
The $MAP token is the native token of the Map Protocol, which is a Web3 omnichain layer whose goal is to enable cross-chain communication and enable developers to build a suite of omni-chain SDKs, that can be used for payment of transaction fees; staking to enhance the security of the network; on-chain governance.
It further said that the benefits the $MAP token gets from being added to Permaswap is increased liquidity and improved trading options which is anchored on the platform’s large user base and mining incentives. Permaswap also affirmed that operating a decentralised framework positions it to provide users of the $MAP token a transparent and secure trading environment. Trading can be done with multiple pairs available on the platform which Permaswap noted, will allow traders to explore different opportunities and strategies to maximize their investments.
Permaswap urges users to contribute to the $MAP/ETH liquidity pool by depositing the tokens. Liquidity providers split from 0.3% token swap fee according to the contributions to the liquidity reserves. “The process is straightforward and trading can begin immediately after depositing,” it stated.
Permaswap’s listing of the $MAP came weeks after everPay, a decentralised exchange network built on Arweave announced that it has listed the token. everPay stated in September that listing the Map Protocol token would strengthen the MAPDAO community to participate in the MAP ecosystem and contribute to growth through its payment infrastructure.
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