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Palmswap - Decentralized Perpetual Trading Protocol

Fri, 12/10/2021 - 09:35
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How to solve the problem of expensive trading of perpetuals? Introducing Palmswap
Palmswap - Decentralized Perpetual Trading Protocol
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Binance Smart Chain based DeFi project with main focus on decentralized perpetuals.

The all known Problem in the Market

Due to high gas fees on the Ethereum Blockchain dApps are used less frequently compared to dApps on the Binance Smart Chain. This resulst from the fact that the bigger part of the crypto community comes from developing countries. It is too expensive to trade perpetuals or use the Spot/Swap market. Until Ethereum has no solution, many people will suffer on paying high gas fees. The same rules for all kinds of people, why do we drive the same car, but mine costs more to operate? Today Binance Smart Chain is the most used dApp Network and it doesn't stop to grow.

How Palmswap eliminates this Problem and uses a market gap as a benefit

The proof of concept for decentralized perpetual Trading is given on the Ethereum Network and is gaining daily volumes between $3- This market is missing on the most used network Binance Smart Chain.

Image source: Palmswap

Perpetual contracts - A way major exchanges offer to trade crypto with leverage

Perpetual contracts are a type of derivative trading product brought to the market by Bitmex and used by many other pioneers such as Bybit. Through perpetual, traders can speculate the future price trends of an asset either by buying (going long) or by selling (going short). The Palmswap Team is very confident to offer users perpetual trading experiences in a decentralized way. They want to bring the usability of their platform to the level of central pioneers and above.

Lets have a deeper look into what awaits future Palmswap users…

The heart of Palmswap is the Exchange

  • Trade Long- or Short-positions on various assets
  • Limit Order, Stop Loss, Take Profit & Conditional Order
  • Trade with up to 10x leverage (after beta up to 50x)
  • Deposit and withdrawal fees of only a few cent
  • Earn -> Cycles (Earn tokens through trading)
  • Trading is conducted on-chain
  • Safety Providing (soon)
  • Farm (soon)
  • Decentralized Hedge Funds (soon)


Trading on Palmswap is smooth and hassle-free. As a user you don’t need to register or create an account, once on their platform you can immediately start trading long or short positions on various assets. The duration of connect wallet till trade will take seconds and you are eliminating KYC and SoF tasks.


Based around trading rewards, staking, governance token and the farm all were designed to fuel growth prospects. More on this can be read in the tokenomics section of the Palmswap Gitbook.

Trading Cycles

Invest time in actively trading on protocol to get free tokens. 270 million PALM will be distributed to active traders on the protocol, out of which a total of 20,000,000 PALM can be earned in Trading Cycle 1 for free by trading on their exchange. This way, the active traders will get the early bird benefits of securing tokens before anyone else gets the chance to do it.

Decentralized Hedge funds

The Palmswap environment offers users with the flexibility to set up decentralized funds, choose what percentage of profit entitlement they want and the risk parameter they will be dealing with.

The main product will be launched shortly on the Testnet: Palmswap Exchange

Image source: Palmswap

The testnet gives users the opportunity to test the trading functionality and provide feedback to improve the user experience and enhance the process prior to the launch of the v1 mainnet.

  • Open Long- and Short-positions on Bitcoin and Ethereum
  • Use of Order Types
  • Leverage up to 10x
  • Changing Margin Ratios during trades

A Huge Incentive awaits their Testnet User!

The Testnet will go live at the mid of January with a $10000 airdrop for 200 lucky winners.

Now the golden question: When will be the mainnet live?

We plan to launch the Mainnet in January or February, 3-5 weeks after the Testnet period has started. Along with the launch of the Mainnet, the first trading cycle will begin.

What are Trading Cycles and how can I participate on them?

Trade on the Protocol to get free tokens. It' s as simple as it sounds.
The first Trading Cycle distributes a total of 20,000,000 PALM (40% of the initial supply) to traders. The first Cycle will automatically end once a total trading volume of 2.5 billion USD has been reached across all markets on the Protocol, the next trading cycles are not based on a volume target but on a number of days. Each cycle lasts 7 days and as soon as one cycle ends, the next one starts. The users can withdraw their earned PALM without any waiting time after the end of each trading cycle.

Image source: Palmswap

Quick Roadmap Overview:

  • 2022 Jan: Release Testnet & Bug Bounty (Airdrop)
  • 2022 Feb: Release Mainnet v1, Trading Cycle 1
  • 2022 Mar: Token Sale - Token Release - Economics (Safety Providing and LP Farm)
  • 2022 Q3/4: Mainnet v2 (Governance, decentralized hedge funds)

Palmswap's future theoretically could be compared to the pioneers from the decentralized spot market. Uniswap has established the decentralized spot market, Pancakeswap recognized the market gap on the BSC and by now, has even overtaken Uniswap in terms of traffic with 24.58M page views compared to Uni with 9.7M page views by more than 50%.

Instructions on how to participate in Palmswap's airdrop and Testnet will be posted in their Announcement Channels (Twitter, Telegram, Discord) soon.


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