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Exchange, trade, swap or convert — these terms imply giving up a crypto asset you currently hold in favor of a different one. Today, there’s no lack of decentralized exchange options (DEXs) available for users to conveniently swap crypto assets. DEX trading witnesses billions of dollars in swaps every week, with DEX aggregators making up 22% of the total crypto trade volume as of November 2021.
Recently, ParaSwap has become a well-known name in the world of DEXs. From November 18–19, 2021, the price of ParaSwap’s native token PSP grew 26% from $0.77 to $1.03. While some traders have started using ParaSwap to exchange crypto tokens, others have yet to discover its benefits. In this article, we delve into the inner workings of ParaSwap and PSP.