$ASTRO Looking Set to Moon Again After AstroSwap Launch Today - Coindoo

$ASTRO Looking Set to Moon Again After AstroSwap Launch Today

Editorial Team Avatar
Jan 28, 2022
4 min reading time

If you have not paid any attention to AstroSwap yet, now would be an excellent time to start doing so. The much-anticipated launch of the platform has just happened and global interest in the $ASTRO token is rising. But, more importantly, this launch marks crucial milestones for AstroSwap, Cardano, and Velas.

AstroSwap Is the Next Big Thing

Assuming you, too, are looking for the next big thing in the cryptocurrency space, look no further than AstroSwap. The project initially gained momentum in late 2021 through an Initial DEX Offering on the ADAPad platform, which noted so much interest the token sold out within minutes. More importantly, the value of $ASTRO continued to surge after the IDO, hitting a 50,000x ROI for early investors.

While most tokens would drop off shortly after, the overall interest in $ASTRO has not diminished. Currently trading on PancakeSwap and Gate.io, the token remains of high interest to crypto enthusiasts globally. More importantly, it has a stable price floor, making it rather accessible to everyone looking to diversify their portfolio with a unicorn-grade asset. 

More importantly, AstroSwap provides the Cardano community with the necessary tools to enhance a trading experience, unlike SundaeSwap. Although SundaySwap launched on Cardano as the first DApp and DEX, the protocol suffered from network congestion, delaying the execution of swaps by up to five hours. AstroSwap’s initial launch on Velas bypasses these drawbacks while still providing Cardano users with an optimal trading environment.

Changing the DEX Game

AstroSwap is the first interstellar DEX for the Cardano ecosystem. That means ADA, the native currency of Cardano, will be the base pair for all trading markets, enhancing the appeal of the ecosystem and unlocking new use cases for long-term ADA holders. However, the gas fees for AstroSwap will be paid in VLX, the native Velas blockchain asset, as the DEX will initially reside on Velas due to its high throughput and ultra-low fees. What’s more, is that the gas fees in Velas will be refunded to users who make swaps.

Another crucial aspect of AstroSwap is how this DEX provides ultra-high APYs. That is possible thanks to the 45% of the total $ASTRO supply being reserved for staking rewards. Staking functionality is one of the core aspects of this interstellar DEX for Cardano, with a lottery coming soon to reward loyal platform users. 

While AstroSwap focuses on the Cardano ecosystem, the team will ensure there are sufficient trading bridges to enhance the user experience. Moreover, users have shown a keen interest in sending tokens between networks at raid speeds and low fees. Combined with support for MetaMask, it makes this DEX the most accessible solution on the market for trading across different networks.

There is also room for yield farming – which is always exciting and worthwhile, especially when part of the first interstellar DEX on Cardano – and auto liquidity locking. AstroSwap is a versatile platform with tremendous features and benefits that will get many people excited when the platform goes live on January 28. 

Core Partnerships and Community Involvement

The excitement surrounding AstroSwap doesn’t just come from the Cardano community. As the DEX runs on Velas – a Solana fork with 75,000 TPS at the lowest transaction fees possible – that community is also keen on seeing what this project entails. Moreover, the DEX launch comes on the heels of a SpaceChain partnership, sending a light node into space on the back of SpaceX’s Falcon 9 rocket.

Moreover, there is also the involvement of WagyuSwap, the up-and-coming trading solution leveraging Velas’ technology. This “triumvirate” of AstroSwap, WagyuSwap, and Velas will help position the first interstellar DEX on Cardano as the leading decentralized trading platform in the world. Other partners for AstroSwap include ADAPad, BluZilla, and Swaps. Together, these entities can elevate the Cardano-focused DEX to new levels, which will prove beneficial to all users and holders of $ASTRO.

AstroSwap will migrate to Cardano in the future, and following this migration, the DEX will provide the next generation of cutting-edge DeFi solutions to users of the most innovative blockchain in the world. That migration will leverage the Swapz bridge, introducing multi-coin options, Nami wallet support, and Layer-two status with EVM compatibility. An expansion to Solana is also in the works, creating the unlimited swapping potential for AstroSwap.

Now is an excellent time to become part of the community, and fill your bags with $ASTRO to catch the next moon!

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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