Introducing Bashoswap: An All In One Suite Of Defi Protocols Being Built On Cardano
In this first medium article of ours, we would like to introduce Bashoswap to you all!
With the constantly growing Cardano community and hundreds of new Cardano Tokens being created on a daily basis, there is no doubt that there is a huge and undeniable demand to have a decentralized and non-custodial exchange platform where these tokens can be exchanged in a trustless manner.
Does it end there?
We must admit that the story doesn’t end there, in order to have a well sustained ecosystem, it’s necessary that there are other things necessary ensure the longevity and sustainability of any project and that includes Staking, Token & LP lock Protocols.
There are few of the problems we want to tackle when we first envisioned Bashoswap.
Our mission at Bashoswap is to step up to the occasion by ensuring that the Cardano Ecosystem is fully ready to onboard new crypto traders, blockchain enthusiasts and Cardano startup projects looking to provide liquidity to boost and accelerate their endeavors.
Despite the fact that Cardano is named as one of the top-performing blockchain networks with a market cap of over 30 billion as at the time of writing, Cardano is yet to have a fully functional, transparent and seamless native Decentralized Exchange (DEX) like those found in other blockchain networks.
No doubt that there are lots of other projects touting to become the leading DEX on cardano but they have come across significant obstacles like in the Case of Minswap that encountered concurrency issues, another project that is not left out of the drama is Sundaeswap, despite having successfully launched, is under a heavy accusation from another Cardano project and Cardano investors for being shady and not transparent.
Bashoswap is set to break the norm as we join the race to become one of the leading Decentralized exchanges on Cardano.
If You Have Been Wondering, What is a DEX?
A DEX or Decentralized Exchange is a blockchain-based application or App that functions through a series of smart contracts written and deployed on the blockchain to facilitate financial services that are traditionally carried by a central entity in a decentralized manner.
With a DEX, two parties can carry out financial transactions by relying only on the smart contracts while rewarding the Liquidity Providers with a small percentage of the transaction fee, serving as a means of passive income generation for individuals.
Unique Value Proposition
Developing a fully functional and scalable Cardano DEX with multiple trading options, such as limit order or stop loss order..
Bashoswap De-Fi ecosystem is going to be a multi protocol package that ensures clear and easy usability and sustainability.
Other Protocols being developed by Bashoswap Team
- Basho Launchpad: A Fully Cardano Native Token Launchpad that would give new and budding Cardano projects the needed push to get their project off the ground in a completely decentralized way, so not only big hedge funds and investors can partake, but also all sorts of retail investors can support new projects from their seed stages.
- Basho Stake: A Cardano Native Token Staking Platform for token holders to stake their tokens to earn reward tokens and also enable them vote on projects that will be selected for funding and incubation.
- Basho Lock: When fully launched, project owners can lock their Tokens & LP tokens to further increase trust and transparency in the project.
How Do We Intend To Finance The Project
We will be financing the project through a series of sale rounds that would be released in a later post.
We will be releasing the first version of Bashoswap Whitepaper in the coming days.
Join us on this exciting journey as we have started building our own solutions tailored for the Cardano community.
Follow Us On Twitter: https://twitter.com/basho_swap
Medium Blog: https://bashoswap.medium.com/