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PancakeSwap, also known as CAKE, is a decentralised finance (DeFi) application that allows users to exchange tokens while also supplying liquidity via farming and earning a fee. Before proceeding, it is crucial knowing that PancakeSwap is by far the most popular decentralised exchange (DEX) on the Binance Smart Chain and was founded in September 2020 by unknown engineers with an evident affinity for pancakes.
As previously said, PancakeSwap has lately become a blockchain sensation, owing to its extensive feature set, significant liquidity, and sizable user base. A new cryptocurrency initially launched on the Binance network and PancakeSwap called HUH.
HUH Token has launched their tax-free swap decentralised application (dApp) today, called Huh Swap. Even though they are not a decentralised exchange like PancakeSwap, HUH has made steps to advance their brand and increase convenience for their holders.
HUH Token is a cryptocurrency that has released on both PancakeSwap and Uniswap on the 6th of December 2021. It is a multi-chain token that is on both the Binance smartchain and the Ethereum network.
The multi-chain functionality lowers the entry for those interested in the DeFispace by making the cross-chain experience more accessible and seamless with fewer steps, fewer fees, and faster transfers.
With HUH Swap, users will be able to swap 20 top cryptocurrencies like Ethereum and Binance coin (BNB) across blockchains without the requirement for a centralised exchange. This provides a one-step DeFi solution for trading your cryptocurrencies. HUH is also providing rewards on HUH Swap. When HUH Swap is used, all transactions made through that exchange for HUH tokens will earn you an extra 5% in rewards.
Native coins such as BNB or ETH, typically need to be withdrawn to a centralised exchange when exchanging for the coin of a different blockchain. This process normally costs both time and money with multiple transactions involved and steps needed to be taken by the user. Instead, HUH Swap performs all transactions in the backend, forming a more efficient process for users with the capability to receive new coins at block speed without a third party to slow the process down. This provides a more personal working relationship between the buyer and the project as a whole.
The HUH Swap feature, with its token fee-free initiative, is one of the first of its kind in the decentralised finance space and is a huge milestone for the Token as a whole. With a smooth experience and intuitive UI, HUH Swap provides a novel tool for those exploring multiple blockchains in the DeFi space.
This will help increase the adoption of this new dApp.
The HUH Swap feature is only the start of the all-in-one place for web3.0. HUH's social
media platform, MetHUH.
Website: https://huh.social
HUH Official Swap: https://swap.huh.social/
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
