DeFi project KingSwap has completed its migration from Uniswap to its own platform’s liquidity and farming pools. Earlier this month, KingSwap achieved USD4 million in transaction volume in its first three days on Uniswap. Now, KingSwap’s DEX features are available directly through its website https://www.kingswap.exchange. The first regulated DeFi project out of Singapore, KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions. An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards.
“We’re pleased with the quick progress our team has made in migrating KingSwap’s liquidity and farming pools from Uniswap to KingSwap,” says Malcolm Tan, KingSwap advisor. “We are grateful to Uniswap for providing us the early traction and visibility we needed to generate an enthusiastic user base, and look forward to building upon this with exciting NFT launches and platform enhancements in the coming weeks.”
KingSwap’s NFTs give their owners loyalty rewards from $KING tokens issued. The project sold out several batches of its exclusive ‘Knight Token’ NFTs and ‘Queen Sparkle’ NFTs, which provide owners access to $KING airdrops. Daily airdrops have already been distributed to all NFT holders (with over 200 per cent ROI). The resale market for these NFTs is already robust, with some resellers already achieving returns of over 150 percent within a span of a few days.
Prior to KingSwap’s public launch on 30 October, venture capital firms and cryptocurrency investors participated in KingSwap’s private fundraising round, helping the project quickly exceed its ETH1000 soft cap to raise over USD20 million in funding and liquidity support. KingSwap’s backers include Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital, and 7CC.
KingSwap was founded by a team of experienced leaders in banking, finance, and crypto, including Dr. Anish Mohammed, who has advised and worked for companies including HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol; Dunstan Teo, Chief Architect of the Fido Protocol and President of Sanctum Pte Ltd.; and Ho Chin Shin, who previously worked as a director at Standard Chartered Bank; Nomura, Japan’s largest investment bank; and the Bank of Singapore.
