PalmSwap

Palmswap is a protocol whose primary focus centers around perpetual contracts. Our long-term goals are to successfully engage the general population into DeFi through an ecosystem consisting of serial products that redefine and improve traditional finance in a decentralized manner.

What can users do on Palmswap Protocol:

• Open long or short positions on various assets

• Trade with up to 10x leverage during Beta (up to 50x after Beta)

• Trade with very low fees due to BSC technology

• AMM based on-chain trading

• Token rewards through trading cycles

• Safety Providing

Why Binance Smart Chain (BSC)?

Counted on BSC scaling technology to increase trading speed compared to Ethereum-based opportunities while at the same time minimizing fees. BSC is currently growing faster than other networks, and its adoption is also increasing day by day.

Palmswap Products

• Trading

No registration or account required. You can start trading immediately without any other requirements.

• Invite

Invite your friends and earn from paid trading fees.

• Trading Cycle

With this program, 27% of the total token supply (270 million PALM) is distributed to active traders on the protocol. This is the first way to secure tokens before anyone else (Free).

Decentralized Hedge Funds (v2)

Participate in funds or create your own decentralized fund. Already from v2 it will be possible to use decentralized funds.

More token related products will be announced shortly after the launch of Mainnet v1.

The Next Steps & Testnet Airdrop

In the mid of January 2022nthe Testnet went live with a Airdrop for all traders. Planed to launch the Mainnet in February 4–5 weeks after the test period has began. Along with the launch of the Mainnet, Trading Cycle One will start and protocol traders will be rewarded with a total of 20,000,000 PALM tokens.

In addition, on one of the most popular dAPP networks, the Binance Smart Chain, there is no functioning perpetual market…

Tokens implementation

As soon as the first trading cycle is completed we plan a token sale, which we expect will take place in March. Following the token sale, PALM will be listed on the first exchanges and the trading cycle will be started. Initially there will be two big “groups” of users who will hold tokens: Trading Cycle 1 participants & Token Sale participants.

PALM has numerous use cases in the protocol and will offer users various ways to use the token in the protocol.

Trade on the Protocol to get free tokens. It’ s as simple as it sounds. The first Trading Cycle distributes a total of 20,000,000 PALM (40% of the initial supply) to traders. The first Cycle will automatically end once a total trading volume of 2.5 billion USD has been reached across all markets on the Protocol. The next trading cycles are not based on a volume target but on a number of days. Each cycle lasts 7 days and as soon as one cycle ends, the next one starts. The users can withdraw their earned PALM without any waiting time after the end of each trading cycle.

A total of 270,000,000 PALM tokens will be circulated through Trading Cycles over the next seven years.