GigaSwap (GIGA): A Complete Guide and Review for Beginners

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Written by C, Fiona
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Last updated: 08/23/2022 10:04

A Dive into GigaSwap (GIGA)

GigaSwap is a decentralized application (DApp) that enables users to safely exchange over-the-counter (OTC) transactions of any asset (e.g. token, NFT) on any chain (Binance Smart Chain, Ethereum, Avalanche, etc.) between two independent parties (P2P) with no risk or need for third party involvement.

 

OTC (over-the-counter) transactions provide users with more mobility than centralized or decentralized exchanges. OTC trading is the next step from direct and decentralized trading. All transactions are conducted by owner to owner and do not involve third parties. Transactions are conducted without affecting the known price of the exchange market.

 

Any asset can be paired with any other amount of assets. For example, an NFT can be paired with ERC20. This type of pairing is done on the OTC smart contract based on a dynamic formula: x * y = k. This type of OTC pair is traded without contract tax.

 

The Benefits of OTC (over-the-counter) Trading

Retail and institutional liquidity continues to migrate to the decentralized finance (DeFi) space, where transactions are made directly between the buyer’s (individual or contract to sell an asset) and the seller’s wallet.

 

This is good news for crypto traders, as control is shifting from the central exchange to the end user, allowing for direct control and ownership of money and anonymity in the process, just like how crypto works.

 

There are no high commissions associated with centralized exchange transactions. Personal wallets will not lose their own funds due to data breaches collected during the Know Your Customer (KYC) process. No restrictions on crypto buy, sell and withdraw transactions. The private key will be transferred from the wallet to the financial intermediary, so you can have full control over the safety of the funds on your own account. It is not affected by centralized system failures and account lockouts due to circumstances beyond the user’s control.

 

GigaSwap Is Exactly the Solution

GigaSwap allows secure exchange of cryptocurrencies, NFTs and tokens between independent parties. Transactions are carried out directly with no third party involvement.

 

GigaSwap will enable easy sourcing of trading partners and simplify terms and agreements between parties, while eliminating cross-chain frustration.

 

The GigaSwap DApp will allow its users to create listings of any asset on a supported chain on a network of verified traders, specifying quantities and prices, as independent listings or groupings (e.g. selling multiple NFTs). This allows for public or private listing and secure execution of previously negotiated trades.

 

The app combines simplicity with configurability to cover most situations without overcomplicating the simplest: I have a, you want to buy for b, let’s exchange it.

 

Whether you’re in the day trading war room staring at 4 out of 9 monitors or on the beach on your mobile device, the transactions you create and execute are guaranteed and secure.

 

GIGA: Native Token

The native token will serve as the governance token for future decisions. In addition, in the future, holders of GIGA will benefit from transaction fees collected from OTC transactions.

 

GIGA will be available on Uniswap:

Supply: 100 000 000 000

Round-trip tax: 7% (5% develop & 2% burn)

 

90% will be locked for 365 days and 10% will be locked for 10 days, after which the tokens will be used to create OTC pairs on https://gigaswap.app/.

 

GigaSwap’s Route Map

  1. Get audited. GigaSwap has various contract components and the swap contract has been thoroughly audited for 6 weeks. The DAppwill not be releaseduntil it has been reviewed.
  2. Completion ofthe OTC pair. GIGA will also soonbe available through its OTC pair on GigaSwap. It has locked 10% supply for 10 days while it has completed the technology that makes this possible. OTC pairs will be exempt from any tax.
  3. Goes live with some NFT transactions.
  4. Improve chat system based on DApp and wallet.
  5. GIGA Token DApp Integration.
  6. OTC Charting System.
  7. Integration of ICP into the DApp.
  8. Integration with chains beyond EVM.

 

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