SwapX (SWPX) is a Sonic-based DEX offering concentrated liquidity, automated liquidity management and modular plugins for seamless DeFi trading.

In mid-February 2025, Argentina's President Javier Milei posted a tweet promoting a previously poorly known cryptocurrency, 

 (SOL)–based Libra (LIBRA), triggering a huge price surge from fractions of a cent to over $5 within hours of the tweet. The token's creators, who controlled 70% of the supply, quickly sold their holdings at the peak, causing the price to plummet to less than $1 within hours. Approximately five hours after his initial post, Milei deleted his post, distancing himself from the project as 

The LIBRA token debacle further tarnished Solana's reputation, already undermined by the numerous dubious meme coins on Solana, exacerbating SOL's decline. US president Donald Trump's announcement about including SOL in the proposed US strategic crypto reserve assets list helped soften the decline, but the damage had already been done.

Against the backdrop of Solana’s reputational troubles, developers and 

 (DApp) operators are actively searching for alternatives — and many are turning to 

 (S), the rebranded reincarnation of Fantom (FTM), as a chain that also features great performance and cost advantages, while also being 

 (EVM)–compatible and, importantly, largely free from the image of a scam nest.

Among the many DApps embracing Sonic is SwapX (SWPX), a 

 (DEX) that offers a number of innovative features, including concentrated liquidity (CL) provision, modular plugins for additional functionality, automated liquidity management, user-friendly account abstraction and more.

 (SWPX) is a DEX platform built on the Sonic Layer 1 blockchain, which aims to provide efficient, user-friendly and flexible trading solutions for crypto token traders and liquidity providers. 

SwapX takes advantage of Sonic's speed and cost advantages to offer cheaper transactions and nearly immediate settlement, both of which are important considerations for DEX users.

The SwapX project has implemented several features and services to address the needs of 

 and liquidity providers at all expertise levels.

SwapX's execution engine is powered by Algebra Integral, a 

 (DeFi) technology provider offering a suite of 

 (AMM) solutions. The SwapX DEX has integrated Algebra Integral's V4 engine, a modular architecture that lets exchanges use customizable plugins for additional functionality. SwapX's plugins support modular upgrades and extend the platform's capabilities by adding new services without disrupting core operations.

 (UNI) v3–style CL pools, which let liquidity providers contribute their funds within specific price ranges. The platform also features automated liquidity management (ALM), so users can add a single token to liquidity pools (instead of having to deposit a pair of tokens). It also removes the need for liquidity providers to actively monitor their positions.

SwapX prides itself on its robust operations, which ensures overall security by restricting plugins from handling user funds directly, thus minimizing the risk of potential vulnerabilities. The platform also uses thoroughly audited, verified 

Another innovative feature of SwapX is account abstraction (AA), which simplifies user authentication by allowing access via an email or Google account. Instead of relying solely on 

, AA uses smart contracts to manage accounts, which further enhances security.

The SwapX project is unrelated to the earlier (and, by now, largely defunct) BSCEX AMM aggregator platform, which was sometimes referred to as BSCEX SwapX.

SwapX's choice of the Sonic blockchain isn’t incidental. The 

 chain has been gaining popularity over the past few months, thanks to its stellar technical properties, low transaction costs and scam-free reputation.

Sonic, a rebranding of an earlier popular blockchain Fantom (FTM), launched its mainnet in December 2024. The Sonic chain boasts a throughput capacity of up to 10,000 

 and sub-second finality times. Unlike Solana, Sonic is also EVM-compatible.

In February 2025, DeFi activity on Sonic began to rise, with some of the new activity supported by Solana's difficulties and the search for a less controversy-affected hosting platform.

Supported by the broader shift from Solana to Sonic, some Sonic-based DeFi protocols — such as Shadow (SHADOW), Metropolis (METRO) and SwapX itself — saw their token prices surge around mid-February. However, by early March, many of the tokens were off the highs to which they’d quickly climbed.

We noted above that plugins are one of SwapX's core features, allowing it to extend the basic AMM functionality. YieldSync is probably the most important of these plugins.

The plugin, created jointly by SwapX and Algebra Integral's developer, enhances liquidity pools containing yield-bearing assets like 

 (LSTs) and liquid restaking tokens (LRTs). It redirects part of these tokens' yield into incentives that encourage voting within the platform's governance system. 

This process increases the overall rewards for liquidity providers and makes the pools more attractive, which draws in more liquidity and boosts the pools' efficiency.

CL, another key feature of SwapX, allows liquidity providers to contribute their funds within specific price ranges to optimize the use of their liquidity. First introduced by Uniswap v3, the CL model can deliver greater returns and lead to more efficient capital usage than the standard AMM setup, whereby the contributed liquidity is spread over the entire price range in the pool.

It should also be noted that while CL-based liquidity provision can be highly profitable, it requires active management and is more complex than the standard AMM model.

SwapX features four distinct liquidity pool types 

 Classic Volatile AMM, Classic Stable AMM, CLAMM and single-token pools offered in partnership with the ICHI liquidity strategies provider.

Earlier on, we mentioned SwapX's ALM functionality, which is leveraged by the ICHI pools. In essence, SwapX's ALM helps liquidity providers in CL pools automate the process of adjusting liquidity within specific price ranges. This reduces the need for constant monitoring and manual adjustments, one of the core drawbacks of the standard CL model. ALM aims to maximize yields by keeping liquidity active within profitable price ranges. In other words, SwapX's ALM might be described as an "auto-pilot" mode for concentrated liquidity provision.

 asset issued on the Sonic chain. Its primary function is to facilitate 

 voting on the platform. Holders of SWPX can lock their funds and be issued veSWPX, an NFT asset that grants the rights to participate in on-chain votes, and attain voting power alongside farming rewards. In addition, veSWPX qualifies you to receive weekly rewards from swap fees and voting incentives. Eligible users can also receive the token via 

SWPX has a max supply of 123 million and a total supply of over 58 million, of which around 14.44 million are in circulation. The token's maximum supply limitation is 123 million. As of Mar 14, 2025, the token is trading at $0.30 and has a market cap of $4.44 million, according to data from CoinGecko.

SwapX is among the newer DeFi platforms taking advantage of the Sonic blockchain's recent popularity, technical efficiencies and low costs. With an array of options for traders at all levels of expertise, SwapX has solid potential to become a significant player, at least within the Sonic ecosystem. 

Whether you want basic token swaps and liquidity provision, or prefer to utilize more advanced strategies, such as CL-based liquidity provision and ALM, SwapX has something to offer you.

Intermediate

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SwapX (SWPX): The future of liquidity provision on Sonic

Indices are essentially statistical measures that track the performance of a group of assets. Learn more here.

From the Dow Jones Industrial Average (DJIA, or simply the Dow) to the Hang Seng Index (HSI), the world’s major stock market indices are vital benchmarks that reflect the performance of leading companies across regions. For beginning and veteran traders alike, such indices act as overarching market bellwethers that provide deeper insights into market trends and serve as tools for trading strategies, risk management and portfolio diversification.

Given their mass popularity, indices are widely traded in the forms of futures, options and 

 (ETFs), enabling traders to effortlessly hedge against volatility or speculate on market movements through their preferred instrument. In this article, we’ll explore the world’s biggest market benchmarks, their composition, significance in trading and their role in shaping global financial markets.

Indices are essentially statistical measures that track the performance of a group of assets. For example, by referring to the three major US indices, we can immediately tell how a particular segment of the market is performing, thanks to the snapshot provided by these indices. 

At their core, these indices provide a way to gauge market trends, manage risk and diversify portfolios by offering a broad view of different sectors or asset classes. They’re widely used in financial markets for investment strategies, and as benchmarks for evaluating performance.

While more popular indices typically track the prices of stocks, traders may also consider trading indices that take into account the performance of other asset types, such as commodities and fixed-income instruments (e.g., bonds).

How indices work — mechanics, composition and weightage

Beyond simple tracking, indices also serve as the basis for numerous financial products that enable traders to participate in broad market movements without needing to purchase individual assets. This unmatched level of accessibility makes indices crucial for both institutional and retail traders. To go one step further, the construction of an index — including the specific assets being included, and their weighting — can significantly impact the index’s behavior, and the extent to which it effectively represents its target market.

Overall, understanding these construction methodologies is vital for traders who want to accurately interpret index movements and make informed decisions. We’ll go into more detail on the inner workings of index trading in the subsequent sections of this article.

Index trading involves speculating on the price movements of a group of assets without directly owning them. This is typically achieved through financial instruments, such as contracts for difference (CFDs), futures or options. The following section provides a detailed explanation of the mechanics involved.

As previously mentioned, indices are composed of various assets, such as stocks, commodities or bonds, and their performance is tracked using different weighting methods. The most common methods include the following.

Now that you’re familiar with the technicalities involved with index composition, let’s dive deeper into the instruments involved with the trading of indices.

New to trading indices? No worries. Here’s a quick four-step process to help you get started.

In summary, index trading provides a way to participate in broad market movements through various financial instruments. It offers diversification and flexibility but requires careful 

, given the volatility associated with index trading.

Trading indices offers several compelling advantages that make them an attractive option for both novice and experienced traders. The following reasons are worth considering.

Indices can be categorized based on their coverage, weighting method and focus. 

Following are some of the main types of indices.

Index prices are influenced by a variety of factors that can be broadly categorized into economic indicators, company performance, market sentiment and external events. These factors interact dynamically, influencing the overall performance of indices and shaping market trends.

For traders looking to get started with index trading, 

 with deep liquidity and competitive spreads. For a limited time (from Mar 13 through Apr 12, 2025), we’re running a 

 in which traders can enjoy zero fees on selected index pairs, making it even more cost-effective to explore index trading.

Ultimately, trading indices can seem daunting, given their depth of assets and the mechanics involved. For example, the S&P 500 comprises hundreds of stocks, each with different amounts of weightage. If mega-cap stocks like Tesla were to face some form of volatility, there would definitely be an impact on the index. As such, beginning traders who are new to index trading must 

 prior to transacting with indices, given the risks involved with the use of leveraged instruments.

For those with a longer time horizon in mind, trading indices can certainly be useful, especially if you’re intending to 

 your entries over time when building up your position. Given the extent of diversification involved and the sheer amount of liquidity present, it certainly would make sense for any trader with a long-term bullish inclination to trade indices and hold their ETFs for the long haul.

With a reliable platform like Bybit Gold&FX, you’ll practically be spoiled for choice when it comes to navigating the diverse world of indices and other financial instruments. By empowering traders with access to real-time data, advanced charting tools and a user-friendly interface, Bybit Gold&FX helps traders make informed decisions when analyzing market trends and execute trades with precision.

Whether you're interested in tracking the performance of major stock market indices, exploring commodity indices or diversifying your portfolio with forex and gold, Bybit Gold&FX offers the necessary resources and support. The platform's focus on security and transparency provides traders with peace of mind, allowing them to concentrate on their investment strategies and capitalize on market opportunities. In essence, it transforms the complexities of index trading into an accessible and sleek experience.

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Indices: Trading the world’s biggest market benchmarks

In this tutorial, we’ll explore how you can complete a series of tasks in Prosper for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete a series of tasks in Prosper for 

Task: Stake at least 20 PROS on the Prosper DApp on BSC

 and connect your Bybit Wallet by clicking on the 

button at the top-right corner of the page and selecting 

: Type in the amount of PROS tokens you would like to stake. You’ll need to stake at least 20 PROS tokens to complete this task.

If you notice the available amount shown for the connected wallet is incorrect or unexpected, simply click on the “refresh” icon to update your token balance. Also, please ensure that you’re connected to the BNB Smart Chain (BSC) network.

 to approve both the application permissions and the stake amount via your Bybit Wallet. 

Once both interactions have been completed, you’ll have successfully staked PROS!

: You’ll be prompted to add rePROS (receipt for staked PROS) to your Bybit Wallet (for display purposes) after you finish staking. These tokens effectively serve as a receipt for your staked PROS.

Beginner

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How to complete Prosper tasks for Bybit Web3 Airdrop Arcade

Bybit celebrated the second anniversary of the Bybit Card at its Dubai headquarters, highlighting its rapid growth with over 1.5 million cards issued since launch.

The S&P 500 dropped 1.39%, entering correction territory amid Trump’s tariff threats and trade war concerns. Gold surged to a record $2,988, driven by trade uncertainty, recession fears, and Fed rate cut expectations. The Coindesk Indices, which tracks the broader crypto market, fell by 0.90%, with Bitcoin and Ether down by 3.36% and 2.63% in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is S, up 7.9% after 0xGasless launched AgentKit on Sonic, enabling AI-powered, gasless on-chain automation.

Sonic Labs (S), established in 2018, is an EVM-compatible Layer 1 blockchain built from Fantom, delivering over 10,000 transactions per second. Its native token, S, replaces FTM at a 1:1 ratio. The network prioritizes high performance, interoperability, and developer incentives. 

, enabling AI agents to execute on-chain actions with NLP-powered automation and gasless transactions via smart wallets. Developers can use Sonic AgentKit to build DeFi copilots or automate blockchain tasks and contribute custom tools through its open-source GitHub.

Check out the latest prices, charts, and data of 

Bybit celebrated the second anniversary of the 

 at its Dubai headquarters, highlighting its rapid growth with over 1.5 million cards issued since launch. The exchange announced a limited-edition Premium Metal Card coming in 2025, alongside enhanced user experience features such as an improved rewards program, stronger fraud protection, and wearables connectivity. Backed by Mastercard’s global network, the Bybit Card supports multiple cryptocurrencies and offers seamless payments at any Mastercard-accepting merchant. Bybit reaffirmed its commitment to expanding crypto financial solutions and bridging digital assets with everyday transactions.

Yesterday, BTC Spot ETFs saw $180.9M in net outflows, with GBTC losing $12.7M and non-GBTC funds dropping $168.2M.

 $EDGE tokens to active traders on Solana and EVM chains. Users who traded on Jupiter, Odos, Hyperliquid, and more can check eligibility and claim by depositing funds and trading $1K spot volume via TWAP. Airdrop claims open in 19 days, with a raffle for 500 users to win 100K $EDGE tokens.

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Bybit marks Bybit Card’s second anniversary with new features and expansion plans

Blockchain

web3

Proof of Stake is different from Proof of Work in its mining mechanism, safety & energy consumption. Find out more about their key differences here.

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Privacy and security have always been a ground for debates in the crypto industry. Hence, the foundation of a consensus mechanism in the

So, to help you understand the differences between Proof of Stake and Proof of Work better, we’ll be highlighting the dissimilarities. That includes the mining mechanism, transaction verifications, safety, and more.

 is an upgraded consensus algorithm primarily to solve problems the current Proof-of-Work is facing, including high electricity costs and security issues. Though both of these algorithms strive to solve the same problem, the process of reaching the goal is relatively different. 

The introduction of PoS is to eradicate the 

. As compared to Bitcoin’s PoW consensus, the PoS aims to stray away from the dependency on computer power to form a well-defined sequence of blocks. So, instead of miners competing against each other to complete a transaction on the network, there won’t be any competition to cherry-pick a person to add blocks.

Ultimately, PoS replace miners with validators to lock up a stake within a crypto ecosystem. Hence, these blocks are referred to as minted rather than mined.

 (DPoS) is a contemporary consensus mechanism to improve scalability without compromising the incentive structure built on the blockchain. Unlike the conventional PoS mechanism, DPoS allows users to earn rewards and rights for validating a transaction, putting blocks together, through coins staking.

So, if a user fails to verify a transaction, the block will be missed, and the reward is then accumulated for the next witness. In the end, the DPoS strives to boost the overall mechanism’s efficiency and build a more coherent ecosystem. 

The PoS algorithm is conceptualized based on the arbitrary election processes to select a node as a validator for the next block. Unlike PoW, there won’t be any mathematical puzzles to solve to validate a block in exchange for rewards. Hence, mitigating the energy-intensive mining process.

On the contrary, the PoS system rewards the validators through a transaction fee. So, a user who participates in the forging process by staking a certain amount of coins into the network may get a chance to be picked for forging the next block. For example, if one participant staked five coins while someone else staked 50 coins; naturally, the chosen next block validator is always those with a higher total value staked. In the end, the more you stake, the higher chances you’ll be selected to be the next validator. 

However, the PoS consensus is criticized for its favoritism towards the wealthy. The most affluent will likely be selected by the system, whereas the poor will be discriminated against. Of course, this methodology 

 concerning the partiality led by an unjust system. Hence, the randomized block selection, a coin age selection, and fisherman system came into play to circumvent the flaws.

Here’s the breakdown of these unique integrations:

This methodology offers a sophisticated logic by combining the lowest hash value on a node with the largest stake size. The randomization helps regulate a healthy ecosystem within the PoS consensus and protect valuable block-forger that appends blockchain blocks.

On the other hand, this selection method relies on the period of the cryptocurrency has been staked. This methodology aims to provide an impartial PoS consensus and prevent the domination of larger staked nodes on the blockchain. That means whenever a node forges a block, the coin age will reset to zero, and there will be a cool-down period to forge a block again. 

Here’s how you calculate the coin age cool-down time:

For example, if you’ve staked only one coin for 20 days, the coin age is 20, and it’ll reset to zero until you can forge another block again.

The rules are different depending on each of the cryptocurrency using the Proof of Stake algorithm. Well, the fisherman approach is here to mitigate malicious activities against the validators. When a validator possessed a threat to the network, the validators could risk losing their funds. Besides, the validator can also be blacklisted from being a validator ever again.

However, if nodes decide to stop being a forger, they can withdraw all of the rewards and stakes. That means all of the blocks must be verified and confirm no engagement in any fraudulent activities.

This consensus mechanism was introduced by Satoshi Nakamoto alongside Bitcoin in a 

 back in 2008. As a fault-tolerance solution, PoW is used as a cryptocurrency protocol for generating new blocks while maintaining the network through the mining process. In exchange for rewards, miners need to maintain the network by solving intricate cryptographic problems. 

The implementation of PoW aims to decentralize transactions and to eradicate the possibility of double spend aka 51% attack. However, the occurrence remains inevitable. In fact, the attack has happened to 

multiple times. On top of that, the use of PoW is rather energy-consuming. To add on, the mining hardware for mining is relatively expensive to maintain the system. Hence, the scalability of this setup is questionable. 

Miners use the PoW protocol in the mining process. So, when someone send a Bitcoin from one to another, a block with a timestamp on the decentralized network will record the transaction. To validate the transaction, miners need to deploy computing power (

) to solve complex mathematical puzzles. To uphold the consensus, the majority of nodes have to agree that the problems have been solved. 

Proof of Stake vs. Proof of Work: The Differences

Today, blockchain technology is revered for being secure. But it doesn’t happen without the significant functions of the consensus mechanism. While both PoS and PoW are devised to tackle the blockchain hacks and frauds, they deviate from one another.

Here’s an overview of its differences: 

The Proof of Stake system is more efficient when comparing it with the PoW mining system. That’s because PoS does not require mining while miners require a colossal of energy to mine a PoW based cryptocurrency like Bitcoin.

With PoS, the mining power is distributed proportionally to the coins a miner holds. It is thereby limiting the mining percentage of a transaction through the ownership of a miner’s stake. So, let’s say a miner staked 10% of Bitcoin, the maximum blocks can be mined is capped at 10%. 

Bitcoin has always been the center of attention, including the energy it consumed. With Bitcoin’s PoW system using almost 0.21% of the world’s energy supply, Bitcoin mining is the least environmentally friendly digital asset. Besides, the competitive nature of Bitcoin mining means more computing power is required to sustain the ecosystem.

With the PoS system’s implementation, mining can be replaced with a minimal amount of energy to maintain the system. The upshot? The environment is restored, and the scalability is upheld via community involvement. 

The risk of centralization is one of the biggest concerns with the Proof of Work consensus algorithm. Since the PoW mining system is much more reserved for the majorities, this system’s transparency is obscured for the community. When PoW relies only on the majority, it’s moving towards the idea of centralization by granting the possibility of a network or transaction manipulation. 

Proof of Stake, on the other hand, provides a fairer solution through the distribution of authority within the holders and stakers. That means the network control is proportional to how much a participant invests. For example, participant A in PoS invests in 20 coins, and he’ll receive the same amount of power.

However, the same participant invests in 20 coins more than participant B; he’ll be receiving more computation power. As a result, PoS is more transparent since the network is more rigid as compared to PoW.

Proof of work on Bitcoin may be resilient to a specific attack. But it is vulnerable to potential security risks, including a 51% attack and system instability due to forking.

When a fork happens on a blockchain, the 

. Let’s say a blockchain is forked; miners would need to direct their mining power to the old and newly forked blockchain. Of course, hard-fork means to bring goods rather than harm. Still, splitting the mining power reduces a miner’s crypto mining rate.

However, Proof of Stake is more resilient towards a 51% attack. That’s because it’s even more expensive to execute this malicious attack on the PoS. Though it’s not entirely impossible, as long as the attackers can bear the drastically increased crypto price and gather enough power in a short amount of time.

Both the PoW and PoS reward cryptocurrency to the participants who can propose a valid block. However, the PoS system’s reward is proportional to how much a participant stake as collateral to verify a transaction. Still, the size and how long the crypto has been staked play a role in determining who gets to verify a transaction first.

Proof of Stake vs. Proof of Work: The Benefits 

Both of these consensus mechanisms are essential for blockchain. Still, the benefits are different, especially since both of these mechanisms serve another purpose. 

The PoS mechanism is beneficial for the environment as it is less reliant on electricity. Higher collateral requirements and heavier punishments towards a faulty block on PoS also result in a healthier ecosystem, and it’s more sustainable in the long-term. It also offers a fairer mining system with scalable transactions as compared with the PoW. Best of all? PoS steers away from the centralization idea by focusing on an individual’s coin ownership for control delegation.

Proof of Stake vs. Proof of Work: The Risks

Many cryptos are still using the Proof of Work consensus, including the titan Bitcoin and Ethereum. However, the Proof of Stake algorithm appears to be safer. That is because it’ll be even more costly to attack a transaction on PoS when comparing to PoW.

In fact, Ethereum 2.0 will be ready to launch with the Proof of Stake model wherein miners are referred to as block validators. Hence, providing a safe blockchain ecosystem for miners and investors. 

The majority of cryptocurrencies today are still using the Proof of Work algorithm, including Bitcoin. However, many cryptocurrencies are transitioning to the Proof of Stake algorithm. That gives different economic benefits to HODLers to run a master node or staking coins in exchange for rewards. Here are some of the cryptocurrencies that are using the PoS mechanism:

: The first Chinese open-source blockchain project allows more than one crypto-token to stake in NEO wallet. Participants earn rewards in the form of NeoGAS with approximately a 2% to 3% annual return rate.

: Staking STRAT in a Stratis wallet can earn you rewards with around 0.5% to 1% annual return rate. 

: It is a crypto coin that uses minimal hardware equipment to earn stake rewards. It doesn’t depend on the coin age concept used by other PoS crypto and is much resilient to stake attacks. The annual return rate is around 1.26%.

: Engaging the stakeholders in the network changes through a voting system. Tezos strives to fix governance issues, and stakeholders get staking rewards to keep the system running. The reward returns are around 6% annually. 

: Tron took off with its decentralized applications and the purchase of BitTorrent and Steemit. Earning passive income from TRX through staking will keep you with around 4% yearly interest. 

: The staking rewards are the highest, with approximately 8% annual return with Cosmos. Cosmos grew exponentially with over 100 projects worldwide, and even Binance uses their technology to build Binance Chain. 

What Is The Future of Blockchain’s Consensus? 

Though the Proof of Work has been a standard consensus algorithm for many cryptocurrency networks, the PoS consensus is here to revolutionize the existing protocol. The circulation of hybrid PoS and PoW may seem to be an excellent upgrade to compliment each other for their flaws. The adoption of the hybrid mechanism remains unknown. As technology continues to evolve, the blockchain would too. 

Proof of Stake vs. Proof of Work: Differences & Functions

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