*obligatory not financial advice*
What is BeamSwap?
BeamSwap is a DeFi protocol that offers its users decentralized trading, lending and much more. It runs on the Moonbeam blockchain that is a part of the popular Polkadot network.
The DEX itself works much like any other swap does. You can supply cryptocurrencies to liquidity pools of trading pairs. The liquidity pools can be used by traders to exchange the tokens at a price that is set automatically based on how many are being supplied. The liquidity providers are getting compensated with a 0.17% fee on all trades.
BeamSwap is also rewarding the holders of its native token just like SushiSwap does. You can stake the GLINT token to a pool and receive SHARE tokens that represent your share of the pool. There is another 0.03% fee on all trades that is being used to buy back GLINT that are added to the pool. You can burn your SHARE tokens anytime and receive your deposit and your share of the earned fees back. Similar to SpookySwap, you can stake SHARE tokens further to receive tokens of partnered projects on top of the normal rewards. The liquidity providers can use their liquidity pool tokens to farm GLINT.
There is also a new lending feature were you can supply some cryptocurrencies to earn interest on them or to use them as collateral to borrow a different digital asset. This can be used to get liquidity without needing to sell an asset you are bullish on or things like leveraged trading or shorting a token.
BeamSwap also offers a bridge to Ethereum, Binance Smart Chain and the spooky Fantom blockchain. This bridge also has an integrated faucet that allows you to get some GMLR coins after the first time you bridged some tokens to Moonbeam, to prevent your assets from getting stranded on the new blockchain.
Beam will also add a decentralized Launchpad were new projects can raise funds and there will be Syrup pools were projects can distribute their tokens to people that stake a supported asset. There are also plans of adding limit orders, a prediction market, a lottery and a NFT marketplace. BeamSwap is already the most used dApp on Moonbeam and is on a good track to become its version of PancakeSwap.
The GLINT Token
GLINT is the native governance token of BeamSwap. As said before, you can stake your GLINT to receive SHARE tokens and earn a part of the trading fees. SHARE represents your share of all the GLINT in the pool and it also gives you governance rights over BeamSwap and lets you vote on possible changes. Since people that stake their GLINT are earning a part of the trading fees, they have a strong incentive to improve the DEX and attract more users. However, the governance itself still has to launch yet, currently the token is only used to earn part of the fees.
There is a max supply of 3,000,000,000 GLINT tokens. 15% were sold to investors in various rounds, 10% were set aside for future sales to raise more funds, 0.3% were used for the initial liquidity on the DEX, 11.7% are used to fund marketing, 3% went to advisors of the project, the team got 10% of the supply and 50% are being used to reward the liquidity providers. The tokens for investors, marketing, advisors and team are all being vested. The liquidity providers are earning half of the supply, which is a bit low and a big share is either sold or set aside.
The value of the token depends on how many people use the protocol and how much money is in its smart contracts. If more is supplied, then there will be more demand for its governance rights and if more trading is done, then there will be more fees going to the GLINT stakers. Decentralized exchanges, lending protocols, Launchpads and marketplaces are all essential parts of any smart contract blockchain and BeamSwap will one day unite all of them in a single platform. It is already the most used dApp on Moonbeam and if it keeps improving and launching its planed services it will grow to a very powerful application.
The GLINT token has not yet been listed on any centralized exchange but you can buy it on the BeamSwap DEX directly or you can earn it by supplying liquidity to the DEX. You can use a regular MetaMask Wallet to store your tokens and to use the DEX, if you connect it to the Moonbeam blockchain.
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