Try Quests to earn cryptoPSP Airdrop
⭐ About Paraswap
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ParaSwap aggregates decentralized exchanges and other DeFi services in one comprehensive interface to streamline and facilitate users' interactions with Ethereum's decentralized finance. This website provides a clear state of ParaSwap's capabilities and some guidance on all the services ParaSwap can interact with.
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⭐ $PSP Token
The ParaSwap Foundation launched $PSP to make the protocol more efficient and decentralized. The total supply will be 2 billion PSP tokens, with 7.5% (149.84M PSP) allocated to existing active users to bootstrap the community.
If you hold PSP, you can get further involved with ParaSwap to help improve the efficiency and decentralization of the service, while earning PSP rewards at the same time. ParaSwap implements a staking model inspired by the market maker rebates model used by many order book-based exchanges as well as proof-of-stake blockchains, where stakers vote on validators so as to maximize the shared block rewards.
⭐ A look at PSP's tokenomics
Since 7.5% of the total 2 billion PSP tokens are getting airdropped, 150 million PSP will be in the initial circulation supply.
The rest of the tokens are divided among ParaSwap's core team (17.6%), future team members (5%), pre-seed investors and advisors (2.4%), seed investors (14%), reserves (10%), and ecosystem (51%).
The core team size is 12 members, said Benchemled. ParaSwap has raised $5.7 million in total funding to date, and its investors include CoinGecko, Blockchain Capital, and Aave founder Stani Kulechov.
- ParaSwap Foundation launched its native token PSP .
- 150 million tokens, or 7.5% of the PSP’s total supply of 2 billion, will be airdropped to 20,000 early users.
Decentralized exchange (DEX) aggregator provider ParaSwap Foundation is launching its native token, dubbed PSP, on the Ethereum blockchain by doing a retroactive airdrop.
Early users of ParaSwap — some 20,000 accounts — will be rewarded with 150 million tokens, which is 7.5% of the PSP's total supply of 2 billion. Specifically, "active users on all supported chains" will be rewarded with the retroactive airdrop, ParaSwap founder Mounir Benchemled told The Block.
The snapshot for the airdrop was taken on October 8, according to Benchemled.
When asked why only 20,000 users have been selected for the airdrop compared to 1.3 million addresses that have interacted with ParaSwap to date, Benchemled said the users were filtered based on their activity, specifically who used the platform “multiple times for the last six months (till October 8th).”
ParaSwap also looked at users’ on-chain activity, said Benchemled, meaning if an address used only ParaSwap, it is very likely that address will not be eligible, he added.
Providing utility and governance
PSP is a 'utility plus governance token', Benchemled told The Block. This is because, besides its usage in governance voting, the token will also be used to incentivize market makers similar to maker rebates in centralized exchanges, he said.
That means PSP tokens can be used for staking in ParaSwapPools as well as for voting on governance decisions of the protocol.
"This is the first time that a DeFi protocol will reward off-chain liquidity with on-chain settlement in a similar fashion as centralized exchanges and proof of stake blockchains," said Benchemled.
🔎 Findings :
In this section, we want to examine the number of people who were eligible to receive this token and the number of those who claimed this token. And let's see how many percent of eligible people claimed their tokens and how many people didn't claim .
🔎 Findings :
As we can see, nearly 20,000 people were eligible to receive this token, and among them, nearly 14,000 people claimed this token. Interestingly, nearly 6,000 people have not yet claimed their airdrop, and the participation rate in this airdrop was close to 69.7%.
🔎 Findings :
Now, in this section, we want to examine the amount of received tokens for each user and see the minimum and maximum as well as the median amount of received tokens in ==dollars and ==PSP==.
🔎 Findings :
As we can see, the lowest received amount of this token was close to 5,200 psp and the highest received amount was close to 10,400 psp. However, more users received the amount of 7800 psp
🔎 Findings :
And in this section, we want to examine the value of the psp token assigned to airdrop. As we know, nearly 150 m PSP tokens, which is equivalent to 7.5% of the total volume of this token, were awarded to nearly 20,000 users, of which nearly 104.5 m PSP claims were made. by users and the interesting thing is that nearly 45.4 m PSP tokens have not been received by users yet. This means that 69.7% of these tokens were claimed
The exchange has given nearly 150 M dollars to users through airdrop, which is a very large amount
Also, in the bar graph, the amount of PSP allocated, the claimed amount and the remaining amount are shown
🔎 Findings :
In this part, we will check the Average amount of PSP received for each user per PSP token and usd. The average airdrop for each user was close to 8.02k usd and 7,500 psp.
🔎 Findings :
You can see in the pie charts how many users received how many PSP tokens in terms of usd and PSP. As we can see, most of the users, nearly 75.8% of them, have earned more than 10,566 usd.
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⭐ Methodology
In this dashboard, we want to examine the airdrop of the Paraswap platform and examine it from different perspectives and see what happened to this platform and its token after that.
In the first and second part, we will check the airdrop of this platform, and in the third part, its price . We examine the factors of its decrease and increase.
In the next part, the fourth part, we will check what the users did with their tokens. In the fifth part, we will examine the number of holders of this token, and in the sixth part, we will examine the liquidity supply pools of this platform.
🔎 Findings :
In this section, we want to check the number of holders of this token over time. As we know, many people have sold their tokens after receiving the airdrop, but still some people have kept their tokens in their wallets.
🔎 Findings :
As we can see, there were nearly 5,691 holders on November 16, but over time, the number of holders of this token decreased until it reached nearly 3,854 holders in the past few days.
🔎 Findings :
As we can see, the number of diamond hands has decreased over time until it reached nearly 1513 holders in the last few days. On the other hand, nearly 2341 holders have recently obtained their tokens and were not among the claimers.
⭐ Stake On ParaSwap Pool
Staking on ParaSwapPool allows the ParaSwap Protocol to deliver competitive rates by incentivising its network of market makers to deliver the best prices. Both stakers and MMs share the incentives in order to build a solid alignment of interests.
In order to stake on ParaSwapPool, you can choose the best performing or promising Market Maker.
In this section, we have reviewed the liquidity supply pools for this platform. As we can see, we see the participation of users in this part of the platform.
🔎 Findings :
The largest pool in terms of the number of people and the number of transactions, as well as the volume of transactions, is related to pool 3, then pool number 4 and then number 1 are the largest pools. After that, pools 7, 9,8 and 10 have had the most interactions, respectively.
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nearly 20,000 people were eligible to receive this token, and among them, nearly 14,000 people claimed this token. Interestingly, nearly 6,000 people have not yet claimed their airdrop, and the participation rate in this airdrop was close to 69.7%.
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As we can see, the lowest received amount of this token was close to 5,200 psp and the highest received amount was close to 10,400 psp. However, more users received the amount of 7800 psp
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nearly 150 m PSP tokens, which is equivalent to 7.5% of the total volume of this token, were awarded to nearly 20,000 users, of which nearly 104.5 m PSP claims were made. by users and the interesting thing is that nearly 45.4 m PSP tokens have not been received by users yet. This means that 69.7% of these tokens were claimed
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The average airdrop for each user was close to 8.02k usd and 7,500 psp.
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how many PSP tokens in terms of usd and PSP. As we can see, most of the users, nearly 75.8% of them, have earned more than 10,566 usd.
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in the first month in November, the number of PSP tokens were claimed and the number of claimers, the amount claimed in USD by users was less than in December.
Most of the users have claimed their tokens before March, and in the last few months, the amount of claimed tokens and the number of claimers have decreased drastically.
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nearly 69.7% of the allocated tokens have been claimed and nearly 69.6% of eligible users have received their tokens. This trend can indicate one of the factors of the price reduction of this token, because with the increase of climers, they start selling their tokens, and this has caused the price to decrease over time.
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interaction of users and the total number of transactions and the volume of transactions related to this token has increased greatly at the beginning of the launch of this token, until the volume of transactions has reached nearly 1 billion usd, but with the passage of time User interaction has decreased drastically.
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most of the transactions type were transfer transactions. After them, there were approvals, and after them there were swaps and withdrawals.
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there were nearly 5,691 holders on November 16, but over time, the number of holders of this token decreased until it reached nearly 3,854 holders in the past few days.
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the number of diamond hands has decreased over time until it reached nearly 1513 holders in the last few days. On the other hand, nearly 2341 holders have recently obtained their tokens and were not among the claimers.
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The largest pool in terms of the number of people and the number of transactions, as well as the volume of transactions, is related to pool 3, then pool number 4 and then number 1 are the largest pools. After that, pools 7, 8, 9, and 10 have had the most interactions, respectively.
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As we have seen, the amount airdropped to users in terms of PSP currency was a certain amount between 5200, 7800, 10400 PSP tokens. But due to the fact that users have sold their tokens in different time frames and due to the fact that the price of this token has fallen drastically since its launch. Therefore, its dollar price can be very different for each user, and you see the highest value of airdrop in usd, which is close to 16.55 k usd, and the lowest value of airdrop, which is close to 100 usd. However, most users earned nearly 7.72k usd from this airdrop
🔎 Findings :
In this part, we want to check the different data of this airdrop and check them during different months. As we can see, in the first month in November, the number of PSP tokens were claimed and the number of claimers, the amount claimed in USD by users was less than in December.
Most of the users have claimed their tokens before March, and in the last few months, the amount of claimed tokens and the number of claimers have decreased drastically.
🔎 Findings :
In this part, we want to check the price of this token and see the factors of its decrease or increase. As we can see, the highest price this token had was on November 15, which was close to $1.5.
You can also see the percentage of PSP token changes on a daily basis with red and green color. (Green color means price increase and red color means price decrease) .
🔎 Findings :
Also, in the graph above, you can see the percentage of people receiving this token. As you can see, nearly 69.7% of the allocated tokens have been claimed and nearly 69.6% of eligible users have received their tokens. This trend can indicate one of the factors of the price reduction of this token, because with the increase of climers, they start selling their tokens, and this has caused the price to decrease over time.
🔎 Findings :
In the graphs below, you can see the amount of user interaction and the total number of transactions and the volume of transactions related to this token along with the price of this token.
As we can see, the interaction of users and the total number of transactions and the volume of transactions related to this token has increased greatly at the beginning of the launch of this token, until the volume of transactions has reached nearly 1 billion usd, but with the passage of time User interaction has decreased drastically.
The PSP Story
We know that for a long time paraswap did not have its own token and users were using this platform to make transactions in the hope of getting Airdrop.
On October 29, 2021==, a tweet was published by the paraswap team which was $WEN "something is happening soon", but did not specifically mention the mystery of its token, increasing speculation about it.
On November 6th, a tweet thread was published by igor and informed users that paraswap is releasing its own token called psp (tweet 1)
then It gave information about the total supply of these tokens (2B) .
You can read more complete information about this tweet from the below box .
descriptions
Everyone has been waiting for this for a long time, and now @paraswap practically launched his token (PSP), which includes a retroactive airdrop and, apparently, some staking for Paraswap pools Let’s see what we can learn from these unverified contracts
Regarding the token:
- supply is 2B PSP
- of which 150k PSPs are already on the airdrop contract. This amount is less than a percentage of the total supply, so either this is a test transaction, or the initial supply will be tiny
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descriptions
Although the code for claiming is absent even on the staging version of the Paraswap website, the storage of one of the deployed contracts contains the following variables. This is obviously a retroactive airdrop using the Merkle distributor from Uniswap.
Could this just be a scam contract? I’m sure not, but it’s up to you. The contract deployer was funded from a new address, which five days ago started withdrawing money from Tornado Cash.
In parallel, they created Gnosis Safe with five owners, among which there are two interesting addresses.
The first of them (0x0951...) is the owner of ENS - mounir.eth, which, taking into account the activity on Paraswap, suggests that this is the Paraswap founder (
The second one (0x3b45...) also had a lot of activity on Paraswap and made five deposits in Tornado Cash a few minutes before they were withdrawn to a new address.
The final tokenomics and the ability to claim tokens are not yet available (due to the absence of Merkle data), but it has already become clear that $WEN is really coming soon