ParaSwap is middleware aggregating many decentralized exchanges (DEX) and other services in one comprehensive interface. For any given trade, ParaSwap checks the rates on all supported DEX and implements further optimizations to get the best rate possible. ParaSwap connects to most major decentralized exchanges, such as Uniswap, Kyber, Curve, or the 0x network.
$PSP is the governance token for ParaSwap with the aim to provide a decentralized exchange aggregator that is market efficient. Token holders can participate in governance or stake them into ParaSwapPools which incentivizes market makers to participate in the ParaSwap aggregator and stay competitive.