BSc Scan quickly included GIBXSWAP, which was released on September 16th. So, is it worthwhile to take part in GIBXSWAP? You must first understand what GIBXSWAP is.

The first important point of DEX, according to the GIBXChange team, is to achieve true decentralisation. In the past, centralised exchanges were at the top of the digital currency industry’s food chain. Whether the market was hot or cold, whether it was bullish or bearish. Due to droughts and floods, the exchanges relied on listing and transaction fees to supplement their income. As a result, the exchange has always been robust in users’ faces, prioritising platform interests over users’ interests.

Furthermore, to obtain more significant benefits, they abandoned their integrity and began to employ illegal methods. During the operation process, the team behind the GIBXChange platform also discovered some unavoidable problems in the decentralised exchange. As a result, the core essence of GIBXSWAP was designed to avoid the disadvantages of decentralisation while achieving the benefits of decentralisation.

The world’s attention has been drawn to GIBXSWAP‘s launch of a new decentralised currency, “X.” The new currency is the GIBXSWAP platform’s core token, and it can be used for voting, repurchasing, fundraising, trading, and earning coins. The emergence of “X” is primarily due to the gradual expansion of the original GUSDT market’s circulation. The market value urgently requires a larger carrier to achieve breakthrough growth; the market requires new currency to stimulate. 

The maximum supply of “X” is one billion, and the block reward is 20 “X”s per block. Professional organisations such as Ernst & Young and Deloitte audit the “X” open source code to ensure safety. At the same time, “X” supports the decentralised cross-chain transaction protocol of BSC, HECO, and ETH and employs “dual mining incentives through liquidity mining and transaction mining,” allowing participants to maximise their returns while seamlessly integrating with the massive global traffic and head resources of Binance and Huobi.

GIBXSWAP is a market maker (AMM) that enables users to exchange two tokens. Liquidity providers (“LP”) deposit their tokens in the liquidity pool to provide liquidity to the exchange. Users on GIBXSWAP receive LP tokens in exchange and can stake these tokens to earn X tokens in the “pool.”

When users perform token swaps (transactions) on the GIBXSWAP, a 0.3% transaction fee will be charged, as follows:

• 0.15% is returned to the liquidity provider in the form of a fee reward
• 0.10% deposited in the national treasury
• 0.05% is used for X token burning

The newly launched GIBXSWAP is now open for liquidity mining, transaction mining, asset cross-chain functions, and the board of directors mechanism implementation. The GIBXSWAP board of directors mechanism stakes a single currency and a designated LP and can divide “X” according to the proportion of locked positions. “X” will include a complete repurchase mechanism. 

Every quarter, a portion of the GIBXSWAP platform profits will be used to repurchase and airdrop “X.” The repurchased “X” will be destroyed immediately, and the repurchase record will be made public as soon as possible. To ensure openness and transparency on GIBXSWAP, users can query through the blockchain browser; the “airdrop” portion will be allocated based on the weight of each pool and then dug out based on the proportion of the locked position. To put it another way, “X” is a deflationary currency. You can earn passive income by holding the currency in times of deflation and high liquidity on GIBXSWAP.

The transaction links such as circulating currency recharge, market query, order placement, order matching, fund settlement, cash withdrawal, and withdrawal are all placed on the chain in GIBXSWAP‘s decentralised transaction and open-source smart contracts directly perform all operations during the transaction. Smart contracts invoke the trader’s digital assets, meaning asset custody, matching transactions, and asset liquidation is placed on the blockchain, accurate and reliable, transparent and checkable, irreversible, and free of fraud. The matching transactions completed via smart contracts and the settlement and clearing completed on the chain have significantly improved transaction transparency on GIBXSWAP.

This time, the launch of BscScan on GIBXSWAP will follow the development trend of follow-up imitation and integrated innovation. To meet the market’s basic needs, both transactions, the formation of liquidity pools, and liquidity mining will be fully deployed. Allow GIBXSWAP to become the benchmark DEX in the second half of the year!