DEX aggregator provider ParaSwap launches its native token $PSP
TokenInsight news, DEX aggregator provider ParaSwap Foundation is launching its native token $PSP on Ethereum blockchain by doing a retroactive airdrop. 150 million tokens will be rewarded to early users of ParaSwap (around 20,000), representing 7.5% of the total PSP supply of 2 billion.
The project notes that $PSP tokens can be used for staking in ParaSwapPools as well as for voting on governance decisions for the protocol. To date, ParaSwap has closed $5.7 million in funding from investors including CoinGecko, Blockchain Capital and Stani Kulechov, founder of Aave.