HypaSwap (HYPA) is the new cryptocurrency that's set to dominate the decentralised finance (DeFi) space of the coin market. The project's developers are optimistic about its prospect and channel needed efforts towards making it a successful project. HypaSwap (HYPA) won't be the first DeFi-related cryptocurrency exchange platform. PancakeSwap, UniSwap, and others have been dominating the market with constant upgrading, and it's left to be seen how HypaSwap plans to beat these fierce competitors to gain market prominence.

In this article, we review all you should know about the new cryptocurrency in terms of use cases, features, security, and adoption potential.

What is HypaSwap?

HypaSwap is an Ethereum-blockchain-based decentralised finance (DeFi) platform. The decentralised liquidity protocol allows users to lend and borrow assets through a provided liquidity pool, which enables the lenders to earn interests. While this is typical of most decentralised finance protocols, HypaSwap steps it a notch by ensuring optimum security of its platform and protection of community members from fraudulent activities.

The risk-conscious protocol identifies possible system vulnerabilities and implements a streamlined strategy to create a safety net for these loopholes. Whether foreseen or unforeseen risks, the platform has mechanisms in place to ensure users' capital remain safe and possible scam or fraud of any kind can occur. The platform hopes to implement a democratised governing system consisting of its Genesis team and community members. The DAO will help maintain order in the community, have a say in decision-making, and deliver verdicts.

HypaSwap identifies the problem facing some existing decentralised liquidity protocols as slow transactions, poor liquidity conditions, lack of transparent collateralisation, and external penetrations. The platform has put in place necessary mechanisms that proffer solutions to these shortcomings, making it an upgrade on others.

HypaSwap aims to provide varieties of different tokens to improve versatility in lending and borrowing. The platform's primary focus will be on maintaining and accumulating a high liquidity market for users leveraging its safety module and liquidity pools to achieve this.

Summarily, the perks of using the protocol would be:

• Low gas fee
• Optimum Platform security and risk mitigation
• Strong community support and involvement
• Higher liquidity market than competitors
• Transparency
• Optimum transaction speed.
• Rewards and incentives

These are the perks and features users stand to benefit from by choosing HypaSwap. Below, we consider the project's use cases.

Utility/Use Case

Lending and borrowing are the primary functions of the platform, which users can leverage to earn. Lending involves funding the platform's liquidity pool that consists of different digital assets, including Ethereum and BNB, with an opportunity to earn through interest rates or incentives.

Funding the liquidity pool (lending) poses no threat to your digital assets, as you are guaranteed of your loan repayment with promised interest. The loan is repaid whenever the borrower pays with interest. The amount will be equally distributed to all liquidity providers, including the interest rate.

Borrowing involves collecting money from the liquidity pool in exchange for collateral. The borrower's collateral becomes free once they pay in full with interest. The borrower's collateral may be liquidated to pay off liquidity providers if such a borrower fails to pay. HypaSwap also incentivises lending by giving token rewards to encourage lending. This helps keep the ecosystem afloat.

Staking

Users can stake their HypaSwap token (HYPA) to earn staking benefits. Staking mitigates problems of an unhealthy liquidity pool, which is why the ecosystem encourages it. It also gives token holders governance right at the platform's DAO while unlocking income benefits. The longer you stake, the more incentives you enjoy.

HypaSwap Token

The ERC-20 token with 200 million supply will be judiciously allocated for presale, founders and team, community reserve, liquidity, and advisors. The HypaSwap ecosystem boasts many beneficial features that can improve its adoption potential, making the HypaSwap token (HYPA) more likely to have a good run in the coin market.