Try Quests to earn crypto👑PSP Airdrop👑
⭐ About Paraswap
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.
⭐ $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 14,200 people claimed this token. Interestingly, nearly 5800 people have not yet claimed their airdrop, and the participation rate in this airdrop was close to 70.8%.
❄️ PSP Airdrop❄️
In this section, we will explore the worth of the PSP token distributed through airdrop. As we are aware, around 150 million PSP tokens, equivalent to 7.5% of the total token supply, were given to approximately 20,000 users. Out of these, users have claimed about 106.2 million PSP tokens, while interestingly, nearly 43.7 million PSP tokens are still awaiting to be received by users. This implies that approximately 70.8% of these tokens have been claimed.
The exchange has generously provided users with around 41.8 million dollars worth of tokens through airdrop, which is a substantial amount.
Additionally, the bar graph visualizes the allotted amount of PSP tokens, the claimed quantity, and the remaining tokens.
🔎 Findings :
In this section, we'll examine the average amount of PSP that each user received for each PSP token and USD. On average, each user received around 8.02k USD and 7,500 PSP in the airdrop.
🔎 Findings :
The pie charts display the distribution of PSP tokens received by users in both USD and PSP. It is evident that a significant majority, accounting for approximately 75.8%, have accumulated earnings surpassing 10,566 USD.
⭐ 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 part, our objective is to examine how the number of token holders has changed over time. Although many individuals have sold their tokens after receiving the airdrop, there are still some individuals who have chosen to retain their tokens in their wallets.
As observed, on November 16, there were approximately 5,691 individuals holding this token. However, over time, the number of holders has declined. Nevertheless, as of the past few days, the number has climbed back up to nearly 4,930 holders since June 28.
We can clearly observe that the number of diamond hand holders has been gradually decreasing over time and has now reached approximately 1520 holders in the past few days. Conversely, around 3400 holders have newly acquired their tokens without being part of the claimers group.
⭐ 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 :
Pool 3 is the biggest pool in terms of the number of people, transactions, and transaction volume. Following closely are pools 4 and 1. After them, pools 7, 9, 8, and 10 have seen the highest levels of interaction, in that order.
🔎 Findings :
As you can see, the token's lowest received amount was around 5,200 psp, while the highest received amount was around 10,400 psp. However, a larger number of users received the amount of 7,800 psp.
As we've mentioned before, users received different amounts of the PSP currency through the airdrop, ranging from 5200 to 10400 PSP tokens. However, because users sold their tokens at different times and the token's price has significantly dropped since its launch, the value in US dollars can vary greatly for each user. The highest value of the airdrop in USD is around $16.55k, while the lowest value is around $100. However, the majority of users earned approximately $7.72k from this airdrop.
🔎 Findings :
In this section, our goal is to analyze the various data regarding this airdrop over different months. Upon examination, we observe that in November, the number of PSP tokens claimed and the number of claimers were lower compared to December.
The majority of users have already claimed their tokens prior to March. However, in the past few months, there has been a significant decline in the number of claimed tokens and claimers.
🔎 Findings :
In this section, our aim is to examine the price of this token and analyze the reasons behind its rise or fall. We observe that the token reached its peak price on November 15, reaching nearly $1.5. Furthermore, you can easily track the daily percentage changes of PSP token with the aid of color coding. The green color signifies price increase, while the red color indicates price decrease.
🔎 Findings :
Additionally, the graph displays the proportion of individuals who have received the token. It is evident that approximately 70.8% of the tokens designated have been claimed, and approximately 70.8% of eligible users have obtained their tokens. This pattern suggests that one reason for the token's price decline could be the growing number of claimers who subsequently sell their tokens, resulting in a gradual decrease in price.
🔎 Findings :
In these graphs, you can observe the level of user engagement, total transaction count, transaction volume linked to this token, and the token's price. As we can observe, at the initial stage of the token's launch, user engagement, total transaction count, and transaction volume experienced a substantial increase, with the transaction volume almost reaching 1 billion USD. However, as time passed, user interaction decreased significantly.
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
After a long wait, it seems that @paraswap has finally launched their token (PSP), which includes a retroactive airdrop and potentially some staking for Paraswap pools. Now let's examine these contracts that have not been verified to see what we can discover.
Regarding the token:
- The total supply of PSP is 2 billion
- Out of which 150,000 PSPs have already been allocated to the airdrop contract. This allocation represents only a small portion of the total supply.