Cross-chain swapping in the crypto sphere allows users to perform more transactions across different blockchains while eliminating third parties and securing each transaction. Before the development of cross-chain swapping platforms, people had to switch between several exchange platforms to swap their cryptocurrencies.
In order to solve this problem, a group of 5 dads got together and built PapaExchange, a platform designed to bridge the gap between different types of cryptocurrencies and other blockchain-based products like NFTs. The PapaExchange team believes that though cryptocurrency is still in its very early stages, it’s important to create systems that are easy to use for even the most inexperienced users. PapaExchange runs on the “Pops Automated Payment Assistant (PAPA) token,” making it easy to buy and swap altcoins and NFTs across different blockchains. The dads behind Papa Exchange are determined to simplify the process as much as possible.
How PapaExchange works
While many people compare PapaExchange to Uniswap, PapaExchange is actually different in a few crucial ways. For starters, PapaExchange is BSC-based, rather than Ether-based because the team at PapaExchange believes BSC is superior in many ways including lower gas fees. PapaExchange was also built to be more user-friendly than Uniswap. The ultimate goal is to turn PapaExchange into a digital marketplace for swapping digital currencies and NFTs. It is also designed to be a platform to help upcoming projects with the potential to skyrocket get the word out about their coin. While coins will allow promoting their projects, investors will look at what each coin has to offer on the PapaExchange marketplace.
PapaExchange is a decentralized cross-chain swap protocol that provides automatic pricing and liquidity systems.
The benefits of cross-chain swapping
Less complex
The alternative to a cross-chain swapping platform is a centralized exchange which comes with complex procedures. Finding a reliable exchange is a task in and of itself. However, your work doesn’t end there. Once you’ve found a suitable exchange, you have to go through the formalities of getting registered then make sure all your transactions satisfy the terms and conditions laid out. On the other hand, a cross-chain swapping platform is much easier to use as you can do the swapping right from your cryptocurrency wallet. Moreover, these transactions don’t come with the high costs associated with most exchanges.
More flexible
Cross-chain swapping platforms like PapaExchange are built flexible, allowing users to exchange any tokens they may have. This is unlike the case with centralized exchanges, where you can only do swapping for specific protocol-based tokens.
High security
In addition to offering users more independence, a decentralized cross-chain swapping platform also provides the added advantage of enhanced security for your transactions. Since these platforms run on smart contracts, the possibility of someone making away with your cryptocurrency is eliminated. The smart contracts ensure that the transaction runs to completion and the token holder has successfully swapped their coins for whatever they wanted.
How PapaExchange is making a difference
PapaExchange is much more than a cross-chain swapping platform. It’s a solution built by a team that is committed to making exchanging crypto easy for the average person. In addition to that, they hope to make the PAPA token more valuable than any other BSC-based token. The token runs on coding that has been developed to give high returns to people who HODL for the long term.
Want to learn more about PapaExchange? You can find more details on their website.