BEAMSWAP: The best DEX on Moonbeam

Read Time:6 Minute, 14 Second

Beamswap is a decentralized exchange with an automated market maker providing liquidity and peer-to-peer transacties. My name is Rico Richardson, and in this post I’m going to tell you all about Beamswap.

Sponsorship
The video that goes along with this post has been sponsored by SOLR DAO! They are partners with the channel and provide new oppertunities to the public. Be sure to check them out on Discord!

Background
Moonriver is hot, and so is Moonbeam. I’m also personally a big fan of it as well and I hold several tokens in the Moonriver ecosystem like Solar and MOVR. In June 2021, Moonriver first launched as a parachain on the Kusama network. Moonriver is a sister network of Moonbeam, and provides an environment to test new code under real economic conditions. Developers now have access to start experimenting and building on an incentivized canary network connected to Kusama. New code will ship to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code will ship to Moonbeam on Polkadot.

What is Moonbeam?
Moonbeam is a developer-oriented blockchain that strives to provide compatibility with the existing Ethereum developer toolchain and network. Moonbeam will also be a parachain on the Polkadot network. That means it will get shared security from the Polkadot relay chain and will be able to integrate with other chains that are connected to Polkadot (once that functionality is available on Polkadot). Leave a comment if you want me to do a full video on Moonbeam alone, but for now let’s go back to moonriver. I’ve made a dedicated video on Moonriver and I’ll be sure to link it at the end of this video. It’s one of the best performing videos on my channel so that should tell you how popular this ecosystem is.

Dex vs Cex
As said before, Beamswap is a decentralized exchange, and this is different from a centralized exchange like Binance. Centralized exchanges (CEX), like Binance, are online trading platforms that match buyers and sellers via an orderbook. They function essentially the same way as online brokerage accounts, which is why they are so popular among investors. Decentralized exchanges (DEX), like PancakeSwap or Uniswap, are autonomous financial protocols powered by smart contracts that enable crypto traders to convert one digital asset for another with all transactions viewable on the blockchain.

What is an automated market maker
It’s also an automated market maker, like pancakeswap for instance that we know of the Binance Smart Chain. An automated market maker (AMM) is a tool used to provide liquidity in decentralized finance (DeFi). It’s used to enable the automatic trading of digital assets and does so by using liquidity pools as a replacement for traditional buyer and seller markets. So now that we’ve runned down the basics, let’s take a closer look at Beamswap.

Why Moonbeam
The reasons why they went with Moonbeam are because it has the most funds raised and highest number of contributions for a Polkadot parachain. It also combines the simplicity of Ethereum with the power of Polkadot and offers seamless transitions from other EVM chains. Beamswap is compatible with the tools that you and I already know like Metamask for instance, and has a first mover advantage as being the first dex on the moonbeam network. It will offer cross chain integrations as well as on chain governance and has a combination of low gas prices and scalability.

Products and features
When designing, they had both beginners and advanced users in mind because their goal is to provide a suite of tools to users that cover all of your needs on their platform. Think of things like Yield farming, limit orders, a launchpad and much more. One of the things not all decentralized exchange offer are limit orders. Which I absolutely love because that way I don’t have to sit and wait for the right price to come along but I can just fill in my desired values and it will be acted on accordingly. The core features that they focus on are Swapping tokens, liqiduity supply and yield farms. They will also allow you to bridge tokens from one chain to the other so that comes in handy when you have funds on one chain, but want to use it on another.

Token
Their token is GLINT and when you stake their token in the single sided auto-compounding buyback pool you will receive Beamshare tokens as receipt, representing your share of the pool. It will make you receive a portion of the dex fees, and allows you to participate in important decisions when using it for governance but also allows you to participate in launchpads. When you participate in launchpads, you can increase your allocation with GLINT tokens. Now with tokens, comes tokenomics so let’s have a quick look at their tokenomics.

Tokenomics
The most important thing I like to see is how many the team and advisors will hold out of the total supply and what their vesting schedule is. In this case the team and advisors take up 13% which is a total of 390 million tokens out of the total token supply of 3 billion. The team has a cliff of 1 month and then the remaining tokens will be released linearly for 30 months in total. This shows that the team are committed to the project, and even the 13% for the teams and advisors is something I don’t see very often. Usually it’s higher than that. So good signals there.

Team and Roadmap
So since a project is only as good as it’s team, it’s important to do your research on that. I’ll put a link in the description where you can find information on their team. I highly encourage you to check it out and to use it while researching this project. Speaking of, let me remind you that I’m not a registered financial advisor nor should my videos be ment as financial advice. Always make sure to do your own research and to never invest money you cannot afford to miss because there is nothing as volatile as crypto. Also, feel free to subscribe to my channel to be updated on the latest projects, and to join my Telegram group to enter private sales and talk about everything crypto related. Now let’s look at their roadmap because I’m sure you’re all curious to hear what they have planned. The roadmap runs from Q4 of last year till Q3 and Q4 of this year. They plan to release the dex and automated market maker in the first quarter, along many other things. In Q2 they will add the limit orders which I’m very fond off, and then in the final quarters of this year they have a flexible roadmap to work with the ever changing landscape of crypto. I’ll be sure to link their roadmap down below as well so you can see everything they have planned.

Socials
Beamswap can be found on Twitter and Telegram where they post regular updates. So I encourage you to follow them to stay up to date. If you like a visual presentation of Beamswap, check out this video: