What is Swamps? A Bitcoin Layer 2 Solution for SRC-20 Token Standard

What is Swamps? Swamps is a Bitcoin layer 2 solution specifically designed for decentralized exchanges (DEX). What distinguishes this project from others? Join Theblock101 as we delve into its unique features in the following analysis.

1. What is Swamps?

Swamps is a layer 2 solution for Bitcoin, specifically tailored for decentralized exchanges (DEX). The primary aim of this project is to deliver a trading system that is both rapid and efficient while ensuring security for tokens adhering to the SRC-20 standard.

The SRC-20 standard functions as a token protocol on the Bitcoin blockchain, analogous to the ERC-20 standard utilized on Ethereum. This protocol facilitates seamless and standardized token transactions within the Bitcoin network, enhancing its applicability for decentralized finance (DeFi) solutions.

2. Swamps product

Swamps operates on a decentralized framework, granting users full control over their assets and trading activities. Accessible globally without requiring permission or approval, Swamps significantly enhances the accessibility of decentralized finance within the Bitcoin ecosystem.

Swamps employs a Layer 2 mechanism provided by the BVM Network, which accelerates transactions, reduces operational costs, and enhances scalability. This platform upholds decentralization and security, both of which are critical attributes of the Bitcoin network.

The primary products offered by Swamps are Bridge and DEX AMM:

• Bridge: Swamps incorporates a bridging mechanism between Layer 1 (L1) and Layer 2 (L2), enabling the seamless transfer of tokens between the main Bitcoin blockchain (L1) and the Layer 2 infrastructure provided by the BVM Network. This bridge facilitates interaction and compatibility between tokens on both layers, thereby streamlining trading and liquidity provision on Swamps.
• DEX: Swamps provides a decentralized exchange (DEX) for SRC-20 standard tokens. Users can engage in liquidity provision on the platform, promoting an efficient and decentralized trading environment.

3. Team

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4. Investors & Partners

The project has not disclosed its investors. Swamps features an advisory board consisting of original members (OGs) from the Bitcoin Stamps and SRC-20 projects.

5. Tokenomics

The project comprises two tokens: SWP and GSWP.

5.1. SWP Token

The SWP token has been introduced with a 100% free minting feature for the community. It serves as the native token of the project, primarily used for paying gas fees.

5.2. GSWP Token

The GSWP token is designated for governance purposes, allowing holders to vote on key project decisions.

Above is not all the information about this project, Wanna know more about this trend? Read at Theblock101.com!

Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.