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DinoSwap

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Discover DinoSwap's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DinoSwap?

DinoSwap (DINO) is a decentralized exchange (DEX) built on the Polygon network, offering yield farming and staking capabilities. It allows users to earn tokens from various projects by staking their LP tokens or DINO tokens in different pools. The platform aims to help projects bootstrap liquidity and offers a low-fee environment for trading and farming activities.

How is DinoSwap used?

DinoSwap (DINO) is a cryptocurrency primarily used on the Polygon network. It is a farming platform designed to help projects bootstrap liquidity and offer yield on popular token pairs for farmers. The platform focuses on providing the lowest fees among decentralized exchanges (DEXs) on Polygon, with plans to expand to other blockchains in the future.

How do I store DinoSwap?

To store DinoSwap (DINO) tokens securely, it is recommended to use a cold wallet instead of a hot wallet. Cold wallets are offline and not connected to the internet, making them less vulnerable to hacking and other security risks. There are two types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet created by generating a public and private key using a program. The keys are printed in the form of QR codes, which can be scanned for future transactions. This method is secure but may not be as convenient for frequent transactions.

  2. Hardware Cold Wallet: This is a physical device that stores your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person possessing the USB drive can access the assets. Hardware cold wallets are preferred by many users, especially for storing large amounts of coins or tokens.

How to buy DinoSwap?

To buy DinoSwap (DINO) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports DinoSwap. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Ensure the wallet is suitable for your trading preferences and payment methods.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. Note down the Secret Recovery Phrase or Seed Words carefully for future reference.

  3. Buy Base Currency: Choose a cryptocurrency exchange platform and buy a base currency such as Bitcoin, Ethereum, or Tether. This will be used to trade DINO.

  1. Transfer Funds to Wallet: Withdraw the base currency to your crypto wallet by providing the wallet address and the amount to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet, such as Pancake Swap. Compare trading fees and liquidity before making a choice.

  3. Buy DinoSwap (DINO): Connect your wallet to the DEX, select DINO, and enter the amount you want to trade. Be cautious of market trends and diversify your portfolio.

  1. Alternative Method: If DINO is not listed on the DEX, use bscscan or etherscan to locate the smart contract address and paste it into the DEX. Ensure the correct contract address to avoid scams.

Additionally, you can buy DinoSwap through centralized exchanges (CEX) by registering an account, verifying your identity, buying a base currency with fiat, transferring it to the CEX, and then trading for DINO.

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History of DinoSwap

DinoSwap (DINO) is a decentralized exchange (DEX) built on the Polygon network. It was launched on July 17, 2021, with the goal of providing a platform for users to earn tokens from various projects operating on Polygon. The DEX allows users to use the DINO token to earn tokens from partnering projects, offering both yield farming and staking capabilities.

Before its launch, DinoSwap ran a highly successful fundraising campaign, which was backed by prominent investors such as DeFinance, Hashed, Spartan Group, DFG, and Sandeep Nailwal, the co-founder of Polygon. This indicates a significant amount of confidence in the project.

DinoSwap has completed three Certik smart contract audits and received a "low risk" rating from the Rug Doctor. It quickly gained popularity, becoming the 7th most popular dApp on Polygon within two weeks of its official launch.

The DINO token distribution was as follows: 65% for farming rewards, 5.6% for the treasury, 14.4% for the team, and 15% for investors and advisors. After the initial 65 million DINO tokens were distributed, new tokens are created on-demand, with one extra DINO allotted to the treasury for every 10 DINO created to support further protocol growth initiatives.

DinoSwap aims to increase liquidity for cryptocurrency exchanges by tapping into tethered liquidity from multiple blockchains, making it a central hub for cross-chain liquidity. It has already expanded to offer the lowest fee DEX on Polygon and plans to expand to other blockchains in the future.

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How DinoSwap works

DinoSwap ($DINO) is a decentralized exchange (DEX) built on the Polygon network. It operates as a cross-chain protocol, aiming to increase liquidity by tapping into tethered liquidity from multiple blockchains. This allows users to benefit from a centralized hub for cross-chain liquidity, making it a rival to other automated market makers like PancakeSwap.

Key Features
  • DinoSwap Exchange: The main platform where users can exchange ERC20 tokens without any additional fees. It interfaces directly with third-party liquidity pools from top DEXs on Polygon.
  • Yield Farming (DinoSwap Fossil Farms): Users can earn DINO tokens by staking their LP tokens from SushiSwap, QuickSwap, and Dfyn.
  • Staking: Users can stake their DINO tokens in Jurassic Pools to earn more tokens from partnering projects without any burn or lock-up requirements.
Trading on DinoSwap

Trading on DinoSwap is straightforward:

  1. Connect Wallet: Unlock your Polygon wallet and connect it to the DinoSwap exchange.
  2. Select Tokens: Choose the tokens you want to swap and enter the amount.
  3. Confirm Swap: Review the details and confirm the transaction.
  4. Transaction Complete: The swap is complete, and you can view the transaction details.
Token Distribution
  • Initial Distribution: 65 million DINO tokens were distributed at launch, with 65% allocated for farming rewards, 5.6% for the treasury, 14.4% for the team, and 15% for investors and advisors.
  • Token Creation: New tokens are created on-demand, with one extra DINO allocated to the treasury for every 10 DINO created.
Security and Backing

DinoSwap has received significant backing from notable investors, including DeFinance, Hashed, Spartan Group, DFG, and the co-founder of Polygon, Sandeep Nailwal. It has also completed three Certik smart contract audits and received a "low risk" rating from the Rug Doctor.

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DinoSwap's strengths

DinoSwap (DINO) has several strengths that contribute to its potential as a cryptocurrency investment:

  1. Strong Backing: DinoSwap has a robust list of investors, including DeFinance, Hashed, Spartan Group, DFG, and Sandeep Nailwal, the co-founder of Polygon. This backing provides credibility and support for the project's growth.

  2. Decentralized Exchange (DEX): DinoSwap is built on the Polygon network, offering a cross-chain protocol that rivals other automated market makers like PancakeSwap. This allows users to tap into liquidity from multiple blockchains, making it a central hub for cross-chain liquidity.

  3. Yield Farming and Staking: DinoSwap offers various staking options, including Jurassic Pools, Extinction Pools, and Tar Pits. These pools allow users to earn tokens from partnering projects, providing passive income and incentivizing liquidity.

  1. Low Fees: DinoSwap is known for having the lowest fees among DEXs on the Polygon network, making it an attractive option for users looking to minimize transaction costs.

  2. Token Utility: The DINO token has multiple uses, including farming yDINO (a governance token), providing passive income through a 1% redistribution on every transaction, and serving as the central currency for an ecosystem currently in development.

  3. Strong Technical Score: DinoSwap has a strong long-term technical score of 79, indicating consistency and low volatility over the past year.

These strengths position DinoSwap as a promising project in the cryptocurrency space, offering users a robust platform for trading and earning tokens.

DinoSwap's risks

DinoSwap (DINO) is a decentralized exchange (DEX) built on the Polygon network, offering yield farming and staking capabilities. The DINO token, the native token of DinoSwap, is used to earn tokens from partnering projects and provides passive income to users through a 1% redistribution from every transaction.

Financial Risks

DinoSwap (DINO) has been identified as a high-risk investment due to its volatility. The token's price can be significantly influenced by market changes, with a high risk score indicating that it is susceptible to price manipulation. This is based on factors such as the amount of money required to shift its price over a 24-hour period, recent changes in volume, and market capitalization. Additionally, trading in financial instruments and cryptocurrencies, including DINO, involves high risks, including the possibility of losing some or all of the investment.

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Did DinoSwap raise funds?

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DinoSwap's ecosystem

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DinoSwap’s team

  • All members of the DinoSwap team are anonymous.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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