Suiswap (SSWP) is a DEX on the Sui blockchain, offering users efficient and secure trading of digital assets with low fees and high liquidity.

As the Sui blockchain continues to gain traction, it has catalyzed the emergence of several new decentralized exchanges (DEXes) that leverage its innovative technology. These DEXes, built on Sui, offer enhanced security, lower transaction fees, and increased liquidity, attracting a growing number of users and developers. Among these rising DEXes is Suiswap, which aims to provide an efficient and user-friendly platform for trading digital assets, capitalizing on the strengths of the Sui blockchain.

What is Suiswap (SSWP)?

Suiswap is a decentralized cryptocurrency exchange built on the SUI blockchain. It aims to provide a secure, efficient, and user-friendly platform for trading cryptocurrencies. Founded in 2022, Suiswap leverages blockchain technology to facilitate peer-to-peer transactions, addressing the limitations of traditional centralized exchanges. The platform operates with the SSWP token, which serves multiple functions and utilities within the Suiswap ecosystem.

The name Suiswap combines “Sui” (the blockchain) and “Swap” (token trading). Suiswap’s primary goal is to offer a decentralized, rapid, and secure token trading platform for the SUI blockchain, building foundational infrastructure for other protocols on SUI. Its main components include decentralized token exchanges, a central limit order book trading platform, and a decentralized aggregator to enhance liquidity and reduce slippage. Users can participate in liquidity and yield farming, earning platform tokens (SSWP) through staking and providing liquidity.

Suiswap’s IDO ran from June 3 to June 5, 2023. It offered SSWP tokens at 0.02175 SUI each, with a supply cap of 500,000,000 SSWP (5%). Participation ranged from 10 SUI minimum to varying maximums for regular and whitelist users.

Suiswap aims to provide unified trading and swapping infrastructure for the entire SUI ecosystem, empowering other platform protocols based on this foundation. The upcoming Suiswap Launchpad will support top-tier projects, offer equal opportunities for better investment terms, and improve accessibility with fair distribution mechanisms.

How Does Suiswap Work? dApp Components

Suiswap is designed to offer a secure, efficient, and user-friendly platform for trading cryptocurrencies. By leveraging blockchain technology, Suiswap aims to overcome the limitations of traditional centralized exchanges and facilitate peer-to-peer transactions. The platform operates with the SSWP token, which serves multiple functions within the Suiswap ecosystem.

The following are the key components of the platform:

Traditional Liquidity Pools: Suiswap offers a decentralized token exchange built on traditional liquidity pools, similar to Uniswap. Users can trade tokens like SUI/USDC in a permissionless and decentralized manner. Liquidity providers (LPs) contribute assets to the pool and earn a portion of the trading fees generated by the platform. This system ensures that users can access liquidity and execute trades without relying on centralized entities.

Stablecoin Liquidity Pools: Suiswap features stablecoin liquidity pools, akin to Curve’s USDC/USDT pools. These pools offer lower slippage and tighter spreads when trading stablecoins, making them attractive for traders and LPs. By providing stablecoin trading options, Suiswap aims to cater to users looking for stable and predictable trading pairs, enhancing the overall user experience.

Central Limit Order Book Trading Platform: Suiswap includes a central limit order book (CLOB) trading platform for more sophisticated traders. This component allows users to place limit orders, offering more control over their trades and potentially better prices than automated market makers (AMMs). The CLOB trading platform caters to traders who prefer to set specific prices for buying or selling assets, providing greater flexibility and precision in trading strategies.

Decentralized Aggregator: The decentralized aggregator is a crucial component of Suiswap, combining liquidity from order books and liquidity pools to provide greater liquidity and lower slippage for traders. By aggregating multiple sources of liquidity, Suiswap aims to offer a more efficient and seamless trading experience. This feature ensures users can access the best prices and minimal slippage across different liquidity sources.

Liquidity Farming: Users who provide liquidity to Suiswap’s pools can participate in liquidity farming, earning SSWP tokens as rewards. This incentive mechanism attracts more users to the platform, increasing liquidity and improving the overall trading experience. By rewarding liquidity providers, Suiswap encourages the growth of its liquidity pools, ensuring that users always have access to sufficient liquidity.

Yield Farming and Platform Revenue: Staking SSWP tokens enable users to participate in yield farming and gain a share of the platform’s revenue. This feature offers additional incentives for users to hold and use SSWP tokens, further supporting the growth of the Suiswap ecosystem. Yield farming rewards users for their continued engagement with the platform, promoting long-term participation and loyalty.

Initial Liquidity Reward Event: Suiswap launched an initial liquidity reward event to incentivize early liquidity provision. Users who provide liquidity over three months in the SUI/USDC, SUI/USDT, or USDC/USDT pools can share in 400,000,000 SSWP tokens. The event aims to attract substantial liquidity to the platform, setting a strong foundation for future trading activities. Rewards are distributed based on liquidity value and lock-up duration, ensuring fair compensation for participants.

Source: suiswap.app

When a user wants to trade one token for another on Suiswap, they interact with the Suiswap smart contract, which acts as an AMM. The AMM calculates the exchange rate based on the ratio of tokens in the pool and executes the trade. This process also affects the token ratios in the pool, influencing the price for subsequent trades. This mechanism creates a decentralized market for any pair of tokens without relying on order books or price oracles.

Suiswap offers a comprehensive platform for digital asset exchange, utilizing liquidity pools, AMM technology, and decentralized governance to provide a secure and efficient trading experience. The platform’s various components, including traditional and stablecoin liquidity pools, CLOB trading, and decentralized aggregators, work together to ensure liquidity, minimize slippage, and enhance user control. With liquidity and yield farming incentives, Suiswap fosters a robust and engaged community, driving the growth and success of the platform.

Suiswap Use Cases

Suiswap provides various use cases catering to different cryptocurrency ecosystem needs. Here are three primary use cases of Suiswap:

• Decentralized Token Exchange: Suiswap’s core functionality is its decentralized token exchange, allowing users to trade cryptocurrencies like SUI/USDC in a permissionless and decentralized manner. Utilizing traditional liquidity pools, Suiswap ensures users can trade tokens directly with each other, eliminating the need for intermediaries and reducing the risk associated with centralized exchanges.
• Stablecoin Trading: Suiswap features stablecoin liquidity pools, similar to Curve’s USDC/USDT pools, offering low slippage and tight spreads when trading stablecoins. These pools are particularly attractive for traders looking to trade stable and predictable asset pairs. By providing a platform for stablecoin trading, Suiswap caters to users seeking to minimize volatility and maintain value stability.
• Advanced Trading Options: For more sophisticated traders, Suiswap includes a central limit order book (CLOB) trading platform. This feature allows users to place limit orders, providing greater control over their trades and potentially securing better prices compared to automated market makers (AMMs). The CLOB trading platform appeals to traders who prefer to set specific buy or sell prices.

What is the SSWP Coin?

SSWP is Suiswap’s native token for governance, staking rewards, and transaction fees. Its maximum supply is capped at 10 billion units, of which 8.84 billion (88.40%) are already in circulation (July 2024).

The purpose of the SSWP token is to strengthen the Suiswap protocol, platform, and governance mechanisms. Suiswap aims to be the premier trading platform for the SUI network, offering liquidity for various swaps and transactions. As the platform’s governance token, the SSWP token is essential to its operation.

The Suiswap platform allows community members to derive revenue rights through the SSWP token. By holding and staking platform tokens, community members can obtain platform revenue generated from trading fees and other channels. The platform also facilitates the distribution of management rights among community members holding SSWP tokens. By staking tokens, members can contribute valuable insights and influence the platform’s future development.

The SSWP token is central to all trading and management on the Suiswap platform. SSWP holders have the following rights:

Platform Revenue: Approximately 60% of platform revenue will be distributed among SSWP token holders. Locking SSWP tokens on the Suiswap platform allows holders to receive platform revenue every 14 days without unlocking their tokens.

Platform Governance: By staking tokens through SUI blockchain-based smart contracts, users can govern the SUI platform and community.

Yield Farming: Locking SSWP on the Suiswap platform allows users to earn additional SSWP rewards when unlocking tokens.

Trading, Holding, and Circulation: Unlocked SSWP tokens can be traded, held, and circulated on the blockchain.

SSWP Automatic Token Burn Mechanism: A portion of platform revenue will be used to buy back SSWP tokens from the market and permanently destroy them. This reduces the number of SSWP tokens over time, potentially increasing their value.

Tokens will be distributed among community members, early-stage investors, IDO participants, liquidity providers, the Suiswap team, and advisors according to various locking and vesting schemes.

The protocol will generate the initial batch of SSWP tokens following the launch of the Suiswap mainnet through several token events, including an initial SSWP liquidity pool, an initial liquidity rewards event, an IDO, an airdrop, a private sale, and long-term liquidity mining activities.

Token Allocation:

• Team, Developers, Advisors: 30% (12 months lockup, 24 months linear unlock)
• Private, Seed Round: 13.5% (20% immediate unlock, 6 months linear unlock)
• Airdrop: 2%-3.5% (100% immediate unlock)
• IDO: 12% (100% immediate unlock)
• Initial Liquidity Rewards Event: 4% (100% immediate unlock)
• Initial SSWP/SUI Pool Liquidity: 1% (100% in the pool)
• Liquidity & Yield Farming: 38% (48 months linear unlock)

Source: suiswap.app/doc

Suiswap will host a two-month initial liquidity rewards event after the mainnet launch to incentivize users to provide liquidity to the Suiswap protocol. This limited supply of SSWP tokens will determine token pricing during subsequent IDO events and enable community members to engage with the ecosystem and features that rely on SSWP tokens.

Suiswap Main Features

Suiswap offers a variety of features to enhance user experience and engagement within the SUI blockchain ecosystem:

Staking Pools

Suiswap provides multiple staking plans with attractive APRs and lock-up periods, allowing users to earn long-term rewards. Users can choose from the SILVER plan with an 8% APR for a 3-month lock-up, the GOLD plan with a 15% APR for a 6-month lock-up, and the PLATINUM plan offering a 22% APR for a 12-month lock-up. Staking $SSWP tokens not only yields profits but also grants eligibility to participate in upcoming IDOs on the platform, giving stakers exclusive access to early investment opportunities.

Source: suiswap.app

Suiswap Launchpad (Coming Soon)

The Suiswap Launchpad is designed to support top-tier projects through a meticulous due diligence process, ensuring users can participate in promising early-stage investments. The platform is dedicated to providing equal opportunities, allowing users beyond venture capitalists to access top deals with better terms. Suiswap leverages its extensive networks to offer exclusive deals with improved allocation mechanisms, ensuring fair distribution among participants. This launchpad aims to democratize access to high-quality investment opportunities within the SUI ecosystem.

Source: suiswap.app

New Features

Suiswap is set to introduce Suiswap 2.0, evolving from the top DEX on Sui to a premier multi-chain platform. Strategic partnerships and integrations are planned to drive this next phase of ecosystem expansion. Despite impressive early community growth, Suiswap sees significant room for improvement across products, chains, and liquidity. Users are encouraged to engage on Discord and Twitter for updates. The Suiswap team is committed to pushing the boundaries of innovation in decentralized trading, inviting new and existing users to join in this journey into 2024 and beyond.

Is SSWP a Good Investment?

The SSWP token, integral to the Suiswap platform, represents a promising opportunity given its potential utility and the growing adoption of decentralized exchanges (DEXs). These platforms offer significant advantages such as enhanced security, user control, and eliminating intermediaries, making them attractive to a broad audience. Suiswap, built on the Sui blockchain, aims to leverage these benefits, potentially driving substantial user adoption and growth. The platform has already reached an all-time Total Value Locked (TVL) of $303,003, indicating strong early support and investment.

However, the DEX market is highly competitive, with many platforms vying for users’ attention. Additionally, the Sui blockchain, while promising, is still in its early stages and needs to demonstrate significant growth and stability. As such, while SSWP has potential, it also faces considerable challenges in a crowded market.

How to Own SSWP?

To own SSWP, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and getting it verified and funded. Then, you are ready to proceed with the steps to buy SSWP.

News on Suiswap

Although not recent, the January 2024 announcement of the Suiswap Launchpad has generated significant anticipation. This platform aims to leverage the SUI network’s rapid growth, with the $SSWP token at its core. The Suiswap Launchpad is poised to offer users new opportunities and possibilities in decentralized trading. The launch appears imminent, keeping the community eagerly awaiting further developments.

Take Action on SSWP

Check out SSWP price today, and start trading your favorite currency pairs.

• SSWP/USDT