On Feb. 18, 2022, the CROWD token will see the light of day in the decentralized finance (DeFi) world after a fair launch auction by Gnosis on Polygon. This event is the starting signal for the implementation of a vision that has the goal to massively simplify the DeFi sector and break new ground. As a consequence thereof, the CrowdSwap team expects greater acceptance of the offers that the DeFi market currently already provides — but have not yet reached or convinced all users.
What is DeFi optimized?
CrowdSwap’s vision is the maximum simplification of complex processes in the DeFi environment. Who hasn’t been annoyed several times with being unable to use a good opportunity because the optimal decentralized exchange for a swap or the best bridge for a cross-chain transfer was not found?
With CrowdSwap, this will be simplified, according to the team. CrowdSwap develops algorithms that, based on the coins and tokens of a wallet (source) and a so-called opportunity* (destination), always determine the best route and the best prices. The combination of best-price routing algorithms and cross-chain communication not only enables convenient swapping directly into the desired token but also provides a larger number of pools that can be analyzed in terms of the best price.
With this large number of opportunities, an intelligent filtering method should not be missing. CrowdSwap will find profitable DeFi options and classify them based on risk assessment so that every user is informed of the levels of risk. CrowdSwap reserves the right to immediately block any scams with regard to its own project values. “The safety of our users comes first,” said CrowdSwap chief technology officer Vahid Hassani.
While doing so, CrowdSwap attaches great importance to fast execution, efficient costs and high security. In addition, the product offers an easy-to-use interface that also shows maximum transparency with regard to all costs incurred. According to the team, this should lead to more trust in the DeFi protocols. There is still a lot of catching up to do here.
The CROWD token
With the CROWD token, the utility of the project was born. This token is used in all transactions. The focus, however, is on the use of its own cross-chain liquidity protocol, which is to be rolled out for five blockchains in 2022.
For CROWD owners, the project offers the possibility of staking. The reward rate is initially set at 40% APY. Auto-compounding saves users the hassle of restaking rewards and, in turn, supports CrowdSwap’s vision.
Besides staking CROWD, the token can be used for providing liquidity. In highly utilized pools, liquidity providers also benefit from using the CROWD token.
Fair from the start
CrowdSwap stands for transparency, trust and equity. Therefore, the team only considered a fair launch auction as its only option. The fact that this auction will be implemented in a completely decentralized manner underscores the project’s conviction. Together with its “Crowd” community, CrowdSwap is ready to take a big step toward optimizing DeFi in 2022.
The CrowdSwap Token Launch Auction starts on Feb. 18, 2022, at 13:00 UTC and ends on Feb. 21, 2022, at 13:00 UTC. Claiming CROWD tokens will be possible from 15:00 UTC.
For more information about the auction, please click here.
CrowdSwap is looking ahead to an exciting and very interesting 2022.
Be sure to check out the project’s website.
*Opportunity = yield farming, lending, staking, liquidity providing, outperforming tokens/coins