FibSwap, a multi-chain decentralized exchange (DEX) has announced that it will be adding new tokens for swapping every day. Additionally, FibSwap announced that it will be connecting to new blockchains every month. The move is expected to give value to FibSwap native token $FIBO, as it will have more demand over time.
“As two of the hottest DEXs in cryptocurrency, we all know and love them due to their ease of use and simplicity, but what has become apparent due to the rise of blockchain networks, is their inability to trade across different platforms, such as Polygon Network, Cosmos, and a host of others,” noted FibSwap Founder Fibonacci.
Notably, the decentralized exchange (DEX) for the FibSwap ecosystem was launched on August 20, 2021. Through the $FIBO token, FibSwap users can seamlessly swap their crypto tokens from one blockchain to another with minimum fees.
There are 10 billion Fibo tokens created at the platform’s inception. However, the company burned 500 million tokens resulting in the total supply of 9.5 billion $FIBO tokens. Out of which, the total current circulating supply is 3.674 billion.
According to the company through a press release, the continued building has helped the $FIBO token gain approximately 150 times. Notably, FibSwap is built on top of the Binance Smart Chain (BSC). Topped on the benefits that BSC brings to the table, FibSwap is well-positioned to take the crypto industry to the next level of seamless crypto trading. Moreover, the level of crypto adoption in the world has moved from private hands to government-aided legalizations.
FibSwap identified a problem in the crypto industry whereby swapping digital assets, for example, ERC20 to BEP20 tokens, has been a challenging and expensive endeavor.
All one is required to do to get started is purchase the $FIBO token and go ahead to swap the various tokens offered on the platform.
“To get started all you have to do is purchase FibSwap tokens called $FIBO to cover the fees, and then choose which tokens you want to trade. $FIBO is the governance token of FibSwap DEX. All fees and internal accounting will be in $FIBO tokens,” the company explained in a press release.
The platform has, however, included an internal tax system to help keep the ecosystem running smoothly and also reach back to society.