Introduction Of Nagaswap Protocol (BNW) – Cryptocurrency On The Binance Smart Chain
What is Nagaswap (BNW)?
Nagaswap is a collaboration between the Naga ecosystem and the Binance ecosystem. Together, they’ve created a brand new gaming platform (MMG) that runs entirely on Binance Smart Chain (BSC).
The platform will allow BNB and BNW holders to start using their tokens to experience the enjoyment of the game and redistribution-like wealth that WINksters on Tron have enjoyed for over 2 years.
Take the issue of first generation cryptocurrency exchanges that are not built for professionals and individuals who want to improve their trading. As the growth of transactions accelerates, more advanced features integrated into the platform are essential. Nagaswap has addressed quite a few issues that exist with DEX and CEX exchanges. And the solution comes from the project’s components.
Nagaswap Protocol Road Map
May 2020: Concept development: After months of research and development, our team is delighted to have finally removed the covers of Nagaswap.
3rd Quarter 2020
- Team formation
- First community survey
- Website and Official Report
- ICO pre-sale begins
- MVP of Nagaswap prototype for developers
4th Quarter 2020
- 2nd community survey
- Public token sale started
- Beta user test NagaSwap DEX
- Release our first dex for beta testing to our member community
- Public ICO launch and crowd sale – November 18 and token distribution will begin
- NagaSwap DEX is officially released
Problems Resolved By Nagaswap
Speed and usability
DeFi is slow and expensive. It takes USD to make a transaction and a few minutes to complete. Many customers prefer the fast, cheap implementation of CEX centralized exchanges.
Most of the Defi protocols fall under a centralized oracle. This is a liquidation price oracle that points to centralized exchange APIs. Or it’s a council of token holders. Sometimes it’s the team of the protocol itself.
Most decentralized protocols are computationally intensive. Incorporating into the Ethereum Blockchain in a cost-effective and fast way virtually eliminates space.
But that doesn’t mean centralization is always bad. USDT or similar tokens are projects that have revolutionized the entire crypto industry. They provide most of the volume, and you can convert to USD 24/7. Because USD bills are not basically on the blockchain, they are in the bank account. But if what you want is pure DeFi, the options are few and far between.
Let’s mention Uniswap, a revolutionary Defi that allows for no-order transactions. However, automatic market making is essential.
Or to mention some of the advantages of AMM:
- AMM is a system that has no limit orders, or bid or offer prices.
- In the order book, you can decide the price, size and direction you want to trade.
Besides, there are also some disadvantages as follows:
- You cannot provide liquidity unless you provide both parties.
- You cannot choose to only offer at a specific price. It is also not possible to provide at a price other than the current market price.
Defi does not have an order book, or precisely because the ETH network is too slow and expensive
There have been many attempts to support cross-chain. WBTC is perhaps best known, creating ERC-20 token wrapping BTC. For example, Thorchain is building an entire protocol that allows for fast and complete cross-chain support.
There are many ways to test. One thing in common, however, that all current versions have is an oracle, or a group of token holders. Because, fundamentally, BTC is not on Ethereum, so how can a smart contract know or influence its transfer?
Nagaswap protocol was born to solve the above problems
How Does Nagaswap Solve Those Problems?
The elements of the project are what make Nagaswap special and make it possible to solve the problems mentioned. Let’s see what it has?
BNW: Nagaswap token is the unility token of the Nagaswap ecosystem. BNW will be fully integrated into Nagaswap and also benefit from the purchase and burning of fees.
Cross-chain Swap: Reliably swap the asset between chains. This is in contrast to most current protocols that rely on trustees to manage swaps.
Order book: Decentralized automatic full limit order book. This will give traders complete control over their orders, unlike AMM. Order book and complete automatic on-chain order execution and order coming from Nagaswap end user.
Integrating Ethereum and Binance Smart Chain: This will make Nagaswap fast and efficient. While interoperable with the Ethereum ecosystem and ERC20 tokens.
Physically resolved cross-chain contract: This will allow easy margin positions in DeFi on synthetic assets.
NagaBTC: A model to generate ERC20 or Nagaswap tokens of BTC. This will be a completely trustless BTC token.
NagaUSD: A model to create a decentralized stable coin. This will be a decentralized stable coin without a single point of failure.
Introduction Of Nagaswap Protocol (BNW Token)
- Name: Nagatoken
- Symbol: BNW
- Token Standard: BEP-20
- Token type: Utility Token
- Contract Address: 0xa15083664eb19899885ccc2b4fd03977b26d3a2d
- Max supply: 1.000.000.000 BNW
BMW Token Allocation
What Are BNW Tokens Used For?
- Users can vote to earn more BNW at a later date
- Tokens can be staked for passive income (income comes from a lot of examples: DAI and BNB in Nagaswap Network)
- Token is used to vote for the project
- BNW is used to propose new jobs
- Minning Tool buys tokens in Nagagame (MMG)
BNW Token Sale
ICO price: 1 BNW = 0.00266 BNB
Softcap: $ 5,000,000: If the entire $ 5,000,000 allocation is raised, 10% of the total supply team Dev will be burned permanently.
The public sale ICO took place on December 5, 2020. If you want to participate, please read the following basic information regarding the location and I will guide you how to buy an ICO.
Divided into three phases. The information is as follows:
Sale of phase 1
- The date: December 5, 2020 (07:00 pm, VN time) lasts for 2 days
- Max Supply: 20 million
- Base price: 1 BNB = 750 BNW
- Locked 60 days
Sale of phase 2
- Date: 12/12/2020 (07:00 pm, VN time), lasts 2 days
- Max supply: 30 million
- Base price: 1 BNB = 500 BNW
- Locked 30 days
Sale of phase 3
- Date: December 19 (07:00 pm, VN time), lasts 2 days
- Max supply: 50 million
- Base price: 1 BNB = 375 BNW
- Unlock immediately
How To Earn BNW Tokens?
Participate in ICO
Stake on NagaSwap network
Provides liquidity on NagaSwap
Buy on listed exchanges
Which Exchange Is BNW Traded?
It is currently known that ProBit will be the place to list BNW tokens and open BNW/USDT trading pairs on December 15, 2020. The project side also added that the upcoming exchanges that might list BNW are Bibox, Hoo and Binance.
In which wallet is BNW stored?
You can store them on the exchange where you bought them or you can store them in Trust Wallet.
The Future Of Nagaswap And Token BNW
Like I said Nagaswap is a collaboration between the Naga ecosystem and the Binance ecosystem. The new platform launched MMG (Make Money Game). That is a game of money. What’s so special about a new platform on a new chain?
Many crypto users remain loyal to a small number of coins and prefer to keep their tokens in their on-chain ecosystem. By creating a new platform on the BSC, Nagaswap will be able to showcase BNW and the game project to a portion of the MMG market.
As the project continues to expand and begin to add gaming DApps, the opportunity to reach multiple independent markets will encourage more developers to build on Binance Smart Chain.
Should You Invest In BNW token?
Nagaswap Protocol (BNW) token of Nagaswap Protocol project is a cryptocurrency operating on the Binance Smart Chain platform. It is a digital asset issued by the Nagaswap project, representing the company’s stake.
BNW can be used in trading sessions or payments within the project’s ecosystem. In addition, the NagaSwap token can also be used to accumulate points and perform multiple exchanges / transactions for mining in Make Money Game (MMG).
On NagaSwap, you can directly swap BNB, BAND, BCH, ALPHA,… into Nagaswap token for staking or mining on the platform.
For Nagaswap Token players who only want to invest in the price movement of this token instead of rapidly increasing the number of tokens, they can trade on exchanges that the project has listed as hotbit and many others.
On NagaSwap you can Stake to get paid profits in the form of Nagaswap Tokens.
As for the matter of adding liquidity, you need to stake 2 tokens to create a token pool. When you have a pool of tokens, you can lock these token pools with the pool for profit which is BNW.
Make Money Game (MMG)
Yield Farming allows investors to quickly reap high returns. The growth potential is still very large in the near future.
At Nagaswap, Yield Farming is demonstrated through the product MMG or “Happy Farm”.
- Participants use BNW to exploit in-game applications that first “Tochi” meant land. Harvesting brings a huge source of income for farmers.
- Total Supply: 50,000 Tochi
- Distribution: 1,000 Tochi will be mine first to support the farmer who owns the Nagaswap Token. For every 1000 Tochi mined, the difficulty doubles as a “Bitcoin halving”.
You must have “Tool Farming” purchased with BNW and must own 1 Tochi purchased at an incremental price. Tochi’s initial price was $500/Tochi with an additional $30,000 liquidity on Nagaswap.org and a 2-year lock.
Tochi’s price is never below 500 USD. The growth value will continue to increase as more volume is harvested and valued by the community
Community & Social
Telegram Chat: https://t.me/nagaswapMMG
Telegram Channel: https://t.me/NAGASWAP
Cryptocurrency investing is subject to high market risk. Please make Your investment cautiously. We will make best efforts to choose high-quality projects, but will not be responsible for Your investing losses.
Introduction Of Nagaswap Protocol – Cryptocurrency On The Binance Smart Chain – By Guest Post
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