The landscape of the crypto ecosystem is evolving with fast pace. Every day, we are facing with new concepts and technologies sprung up very quickly in the world of blockchain and digital currencies. From Non-Fungible Tokens (NFTs) to meme coins, from the Metaverse to Web3, and from DeFi apps to decentralized exchanges (DEXs), each development brings forth unique opportunities for users and specially for traders and investors.
Due to the dynamic environment in the crypto sphere, it becomes increasingly crucial for platforms to adapt and embrace these changes. Comprehensive platforms that include a wide range of crypto apps and services are becoming essential for users seeking all-in-one access to the diverse array of possibilities offered by this rapidly expanding ecosystem.
Azur project is one of these comprehensive platforms in crypto aiming to combine complete decentralized finance (DeFi) solutions and integrate them with gaming, Metaverse, entertainment, and NFTs.
What’s Azur project?
Azur Project
Azur project is a new robust promising project in DeFi and crypto world which is trying to combine complete decentralized finance solutions and integrate them with gaming, Metaverse, entertainment, and NFTs, and aims to cover all the different interests in crypto and provide a seamless access experience to its users all in one place.
One of the main solutions of the Azur project is AzurSwap. AzurSwap is a strong and secure decentralized exchange (DEX) which enjoys the successful codebase of Uniswap v2 that is more popular and secure than v3 and there are less bugs and errors associated with it.
What’s AzurSwap?
AzurSwap is a multi-network Decentralized exchange working on blockchain’s smart contracts meaning that thanks to its EVM compatible architecture it can support many different crypto networks. So, you can exchange many different tokens using AzurSwap liquidity pools.
How AzurSwap works?
As other DEXs, AzurSwap works on smart contracts on blockchains called AMM or automatic market maker and there is neither such a thing as order books we have seen in the centralized exchanges (CEXs) nor the middleman to conduct the trades but all trades will be conducted peer to peer and automatically on the blockchain itself using codes.
AzurSwap operates liquidity pools that act as collections of assets supplied by users known as liquidity providers (LPs). These pools are controlled by smart contracts that automatically execute trades based on predefined algorithms. When a user wants to make a trade, they interact directly with the smart contract, which calculates the price of the assets being exchanged based on the current state of the liquidity pool.
Actually, users themselves provide the liquidity pools necessary to conduct the trades using smart contracts and they will be rewarded for this and receive LP tokens (liquidity Provider tokens).
Getting started with AzurSwap
For starting trading in AzurSwap DEX, firstly you need to connect your EVM Compatible crypto wallet (such as Metamask or Trust Wallet) to AzurSwap DApp. Then you can start to swap supported EVM compatible crypto tokens together.
What can you do on AzurSwap?
- AzurSwap is designed to be completely decentralized exchange and you can trade multiple EVM compatible tokens from different networks there with just a few clicks without any intermediaries utilizing smart contracts.
- You can become a liquidity provider (LP) in AzurSwap and receive LP Tokens in reward as your share of the pools. Every buy or sell transaction in AzurSwap has a 0.2% fee of which 75% will be paid to LPs as reward of their share of the pool.
- Users are able to view NFT collections, list their NFTs for sale, show off their portfolio, and check out other users NFTs in AzurSwap NFT marketplace.
- Users can interact, chat and dance with AI virtual beings in Azur Game. They can Explore new exciting worlds there.
- AZUR Metaverse is a technology and token project that offers innovations in the fields of Metaverse, Web 3, GameNFT & GameFI.
- You can integrate your preferred DApps such as lending, borrowing, staking and yield farming DApps to AzurSwap
What is the cutting edge of AzurSwap?
AzurSwap as a Decentralized Exchange (DEX) which is working on blockchain and smart contracts has many advantages over other Centralized Exchanges (CEXs) that I outline them for you here:
1. Security:
AzurSwap operates on blockchain technology, which gives it enhanced security compared to CEXs. With DEXs, users retain control of their funds as they trade directly from their wallets, reducing the risk of hacks or theft associated with centralized platforms. Additionally, AzurSwap is completely open source and experts can see its codes and make sure of any concerns regarding the security of the funds of the users. On that account, AzurSwap had its codebase audited by the Certik which is a blockchain and smart contract security company that provides auditing services for crypto projects. They specialize in conducting security audits to identify vulnerabilities and potential risks in smart contracts, decentralized applications (DApps), and blockchain protocols. As you may have heard the famous quote by Bruce Schneier “Security is not a product but a process” and AzurSwap is committed to solve the security issues identified by the experts and this process will be continued as a permanent responsibility.
2. Privacy:
One of the main advantages of DEXs like AzurSwap is that users can maintain their privacy and anonymity because the KYC process is not required as usually is the case with CEXs. As you know, one of the main aims of Satoshi Nakamoto was to provide financial freedom to all people through peer to peer trustless transactions irrespective of their nationality, age, gender, social status and so on. Centralized exchanges have compromised the aim by the process of KYC and being the intermediary between the parties of a financial transaction and becoming the single point of failure.
3. Trustlessness:
DEXs eliminate the need for intermediaries or third-party custodians and AzurSwap is no exception. AzurSwap operates on smart contracts on the blockchain that facilitate peer-to-peer trading, ensuring that transactions occur directly between users without relying on a central authority.
4. Global Access:
Thanks to being decentralized, AzurSwap provides traders and investors from anywhere in the world with access to a global pool of liquidity, allowing them to participate in trading activities without restrictions or limitations imposed by geographical boundaries or political institutions.
5. Lower Fees:
Everyone wants to pay less fee for exchanging crypto tokens. Generally, many DEXs have lower fee structures compared to CEXs since they do not require extensive infrastructure or maintenance costs associated with centralized platforms. This can be particularly valuable for frequent traders who aim to reduce transaction costs. If you still want to pay even lower fees, then you may want to try AzurSwap because it charges its users one third less than other major swaps like UniSwap, SushiSwap and PancakeSwap. The fee of any buy or sell transaction in AzurSwap decentralized exchange is 0.2% of the amount of the transaction of which 75% Will be paid to the liquidity providers and 25% will be to AzurSwap development team and its advertisement programs.
Besides, the commission AzurSwap receives from users compared to other swaps like Uniswap, with a 0.3% commission, is less which among other general features of the system makes it more attractive to users.
6. Token Variety:
AzurSwap is a multi-network platform and supports a wide range of tokens and coins. This allows traders and investors to access a broader selection of assets for trading and investment purposes. As you know each crypto networks possess its own advantages in terms of transaction completion speed and throughput, fees of the transactions, security, DeFi services and so on. Supporting these different networks and their respective tokens in AzurSwap gives traders and investors the freedom of choice and enjoying the specific benefits of the different networks in the crypto ecosystem.
Currently, AzurSwap supports up to 22 different EVM networks including 12 mainnets and 9 testnets. The support for testnets is a good news for developers because they can reduce the occurrence of bugs or errors in their projects using AzurSwap platform.
The connected networks to AzurSwap up to now are:
- Ethereum Mainnet
- ROPSTEN (ETH testnet)
- RINKEBY (ETH testnet)
- GOERIL (ETH testnet)
- KOVAN (ETH testnet)
- ARBITRUM RINKEBY
- ARBITRUM
- AVALANCHE FUJI TESTNET (AVAX testnet)
- AVALANCHE CMAINNET (AVAX Mainnet)
- FANTOM TESTNET
- FANTOM
- BNB TESTNET (bep20 testnet)
- BNB (bep20 Mainnet)
- OPTIMISM KOVAN (Optimism testnet)
- OPTIMISM (Optimism Mainnet)
- POLYGON
- POLYGON MUMBAI (Polygon testnet)
- HARMONY
- HARMONY_TESTNET (Harmony testnet)
- HECO
- HECO TESTNET
- ETHClassic (Ethereum Classic)
7. Transparency:
All transactions on AzurSwap are recorded on the blockchain. So, there’s a transparent and auditable trading histories for all traders to see. This transparency helps build trust among participants and ensures fair trading practices.
8. Resistance to Market Manipulation:
Since DEXs like AzurSwap operate in a decentralized manner, they are less subject to market manipulation by large players or insider trading practices that can occur on some centralized platforms that creates an unfavorable trading experience for traders. Support of several mainnets in AzurSwap has created a strong and vibrant trading platform and due to its increased liquidity pools traders and investors can experience better prices.
Overall, these benefits make AzurSwap an attractive option for traders and investors who insist on security, privacy, global access, and lower fees while participating in the cryptocurrency market.
AzurSwap bridge feature
Currently, each contract can only be executed on its own network and cannot be executed on another network, so it is not possible to send a token to another network. For example, it is not possible to directly send BNB coins from the BNB network to the ETH network. The bridge feature is currently not available on AzurSwap due to security reasons, and to use tokens from different networks, one can use the wrapped version of that token on another network. For example, the ETH token on the BNB network represents that coin on another network.
Azur Token
The native token created in the Azur system is called Azur Token, with the symbol AZUR. It is a standard ERC20 token designed with the help of OpenZeppelin to be used for future purposes such as:
- Designing various games
- Designing a native network called AZUR Network
- Designing and developing various systems and protocols related to the AZUR token
AZUR Tokenomics
Don’t worry! This token was developed using the ERC20 standard and OpenZeppelin libraries, and there is no possibility of updating it. The lack of access to update the contract is to provide more assurance for users and token holders. So, it does not support features such as smart contract updates, having fees for holders or development teams, or having 32-bit codes for voting, and so on.
Using OpenZeppelin libraries in the design of the token has increased its level of trust and security. One important aspect of AZUR tokenomics is that there is a limitation regarding the number of tokens mintable for further uses in the future. Besides, all services provided by the Azur team in the future are dependent on this token. Special services such as Telegram bots or games which will be designed in Azur platform will work with the AZUR token.
The initial number of tokens created is 200 million with 18 decimal places (like other standard tokens) which the distribution and release method will be announced through communication channels. In addition, in the AzurMetaverse section, NFT tokens issued in that space will be dependent on this token. After the creation of the native blockchain, the Azur coin will be officially introduced and these tokens will be burned, and in return, Wrap Azur token (WAZUR) will be created. The existence of WAZUR is due to its use in DeFi and swap areas.
Initially, this token is launched on the Ethereum network, and after a while when it will reach to its predefined goals it will be tradable on other networks.
Future plans
Azur Hardware Wallet
In the near future, software for different platforms such as Android and iOS devices will be introduced. Also, the hardware wallet is under construction and development.
Conclusion
DeFi apps and DEXs have disrupted traditional financial systems by enabling peer-to-peer transactions, lending, borrowing, and yield farming without intermediaries. These decentralized financial solutions offer unprecedented financial inclusivity and transparency. A comprehensive platform that incorporates DeFi apps and DEXs all in one place can empower users to access these innovative financial services seamlessly and that’s what exactly Azur project aims for.
In conclusion, the fast pace of evolution within the crypto ecosystem necessitates the presence of comprehensive platforms that embrace all these advancements. By integrating NFTs, meme coins, the Metaverse, Web3 platforms, DeFi apps, DEXs, and more into a unified experience, these platforms can meet the diverse needs of users while providing a secure environment. As we navigate this ever-changing landscape of possibilities, embracing comprehensive platforms such as Azur project becomes essential for individuals seeking to explore the full potential of cryptocurrencies and shape the future of finance and this in turn is especially important for those traders and investors looking for high potential and undervalued crypto projects!