Disclaimer: The text below is a press release that was not written by Our.
The world’s first self-mining smart contract, Minereum, has just launched the first over-the-counter (OTC) decentralized cryptocurrency exchange for ERC20 tokens called Bazarswap. Aside from the lack of intermediaries, the new exchange also offers advantages such as zero exchange fees in the foreseeable future, direct and automatic payouts for both buyers and sellers, and allowing users to add any ERC20 token to the exchange to facilitate token diversity—all the while preparing for the next milestone, which is a launch on the Binance Smart Chain. Additionally, for every token you list on Bazarswap, you can enter a promotion that can win you up to 6 ETH.
Bazarswap and Fees
Although there are currently no fees at the newly launched DEX, the team still clarified that they will be introduced at an unspecified point in the future, while users will be made aware in time. At that point, the fees will be distributed to Minereum Fee Share Holders, which will serve both to incentivize existing holders and to attract new ones. Everyone can get their own Fee Shares at Minereum—all you have to do is buy them from the V2 Decentralized Fee Shares Exchange. On the other hand, you are also free to sell your shares or send them to other addresses, which means you are not beholden to the company in any way.
Since Bazarswap is a DEX, users are guaranteed a more rigorous approach to security than in the case of many centralized exchanges: the tokens are simply never transferred to the exchange, but are moved from your wallet to the one you sell them to only when you go through with the trade. This minimizes the risk of hacks, malicious actors, and man in the middle attacks, especially if you do your due diligence that is already part of every crypto owner’s DNA. In other words, the exchange only facilitates these trades by connecting interested parties to each other, instead of taking a more direct approach and holding your tokens for you.
How to Sell Your ERC20 Tokens
If you wish to sell a certain token, first you have to set up an ERC20-compatible wallet. No matter which token you’re selling and at what price, you have to keep in mind that your whole balance at the given address is listed as for sale. Of course, you are free to create several addresses to separate the balance into batches (MetaMask allows you to do this, which the team recommends), plus you can also set different prices to each batch. Once the batch is sold, you will receive your ETH instantaneously and your address is removed from the trade page—but if you want to sell again, all you have to do is fill the same address up again and it will be relisted automatically.
How to Participate in the Promotion
Whenever you list a token on Bazarswap for the first time, you can get a free ticket for the Minereum Lucky Draw blockchain experiment. You will have to claim the ticket manually, by entering the token contract address into the Lucky Draw page. All you have to do after that is play your ticket—be sure to do it in time, because it expires after 256 network confirmations, so you may miss out on your chance to win. Additionally, you can’t claim the ticket if your batch has already been sold, so don’t waste any time!
The promotional reward goes up to 6 ETH, so claiming your ticket and playing it ASAP is the only wise course of action. Hurry up and grab your chance to sell your ERC20 tokens—or buy some that you’ve had your eye on lately—and maximize your profits, both through the promotion and zero exchange fees!