Token Spotlight: CSWAP

On July 25th, 2023, CSWAP released the beta of their NFTfi Marketplace on the Cardano Mainnet, pioneering the first AMM protocol for NFTs on Cardano. CSWAP is the native token of the CSWAP platform. This article will delve into the token, its tokenomics, liquidity, utility, and more.

CSWAP Distribution & Tokenomics

CSWAP Distribution Pro Page on TapTools

CSWAP has a total supply of 2.5 Billion tokens. Currently 146.80 Million of these tokens are in circulation, equivalent to 5.9% of CSWAP’s total supply. At 0.027 ADA per CSWAP, this gives the token a market cap of $1,952,795 and a fully diluted market cap of $33,256,928, placing it at #44 in the Top 50 on TapTools.

There are currently 584 holders of the token, up 1.57% in the last 30 days. CSwap has a Median Holder Balance of 3.4K tokens equivalent to 102.92 ADA, and an Average Holder Age of 86.99 days. Looking at the Token Seniority Distribution, a majority of these tokens have been held for 90–180 days, highlighting the project’s strong community.

Liquidity

CSWAP Liquidity Pro page on TapTools

CSWAP currently has 186.32K ADA in liquidity on one Cardano DEX and a 24 hour volume of 18.86k ADA. CSWAPs liquidity is on the Minswap DEX, with a small portion previously being on the VyFinance DEX. There are currently 12 addresses providing liquidity for the CSWAP/ADA pairing.

Volume

CSWAP Volume Profiler Pro page on TapTools

There have been 2.767 CSWAP trades amounting to a lifetime trading volume of 1.77 million ADA, equivalent to 56.17 Million CSWAP tokens. 851.14K of this was buy volume while 922.64k was sell volume. The majority of selling was done by the shrimp wallet size (0–5K ADA), while the majority of buying was done by the swordfish wallet size (25–100K ADA). Virtually all of the trading volume took place on the Minswap DEX.

Utility
We’ll now delve into the various utility that CSWAP has to offer.

Multi Asset Liquidity Pool

CSWAP can be exchanged to obtain NFTs from Multi Asset Liquidity Pools on the CSwap NFTfi DEX.

Platform Fee Sharing

CSWAP holders will be able to stake their tokens after the launch of the fungible token DEX to earn ADA generated by platform fees.

Conclusion

The CSWAP token powers the CSWAP platform, offering its users a variety of utilities including an upcoming revenue sharing model, enabling holders to share in the platform’s success. With the upcoming launch of CSWAP fungible token DEX, it will be interesting to see how the project evolves in Cardanos DeFi space. You can find out more about CSWAP at the following link: https://docs.cswap.fi