SoulSwap Finance, founded by 0xBuns and DeGatchi, is the latest DeFi protocol to launch on Fantom. DeFi is important for creating an open financial market with no central control. We also operate on the Fantom blockchain which enables us to have very quick transactions that take about a second to execute. We recently rolled out Luxor which is basically a reserve currency. We are also rolling out TheaterDAO as well, which is on the NFT side of things. The cost of trading is very minimal compared to those where it can cost upwards of $40-$50 for a trade.
Decentralized Finance (DeFi) is important for creating an open financial market with no central control.
Most blockchains have a variety of protocols that cater to building a trustless and permissionless financial ecosystem.
Fantom in particular has experienced huge interest from the DeFi community due to its low speeds and fast transactions.
One the latest DeFi protocols to launch on Fantom is SoulSwap Finance, founded by 0xBuns and DeGatchi.
In this post we’ll look at SoulSwap Finance, how it works and how it fits into the DeFi ecosystem on Fantom.
You can watch the interview below or scroll down for the full interview transcript.
How did you get into crypto?
DeGatchi: I got into it through stocks. My family friend was doing it full time, so I got into it that way but it was too slow.
This led to me learning about crypto whilst working two jobs. Whilst commuting to my job I would learn more about cryptocurrency and was investing into projects as well,
I wanted to get even better at being an investor and I figured the best way to do so was by learning about what I was investing in at a technical level.
Since then I’ve gone from an investor to a full time coder, working on SoulSwap and other projects.
0xBuns: With myself, I started off by moderating cryptocurrency projects. I already have a master’s degree in economics, plus I have programming experience in Python and was teaching Python at my job at the time.
I figured I could use these skills to tinker around with the development side of things in crypto, so I jumped right into it.
I started working as a lead Solidity developer for various projects. Eventually I decided to build my own project and that’s how I ended up founding SoulSwap with DeGatchi.
We came together to build SoulSwap and later Luxor and TheaterDAO as well.
What is SoulSwap? How does it work?
0xBuns: SoulSwap is primarily a decentralized exchange (DEX) and it’s an automated market maker (AMM), which means you don’t need to have another person on the other side of the trade, instead you trade tokens with the liquidity pool.
Users are incentivized to add liquidity to these pools by farming liquidity pool tokens (LP Tokens).
So a user can provide liquidity for the exchange (SoulSwap) and earn SOUL, the native token for the SoulSwap ecosystem.
This is the primary function, however we…
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