A Swap Pool is a system used in decentralized finance (DeFi) where users can trade one cryptocurrency for another. The pool collects various tokens from participants who contribute their assets. In return, they may earn rewards or transaction fees.When a user wants to swap tokens, they access the pool instead of relying on a centralized exchange. This decentralized approach allows for greater flexibility and can reduce costs associated with trading.Liquidity providers, those who contribute their assets, play a crucial role in the Swap Pool. They ensure there are enough tokens available for traders to make transactions without significant price slippage. In return, they receive a portion of the transaction fees, creating an incentive to keep their assets in the pool.Overall, Swap Pools increase accessibility and efficiency in trading cryptocurrencies, allowing users to exchange tokens easily while providing rewards for liquidity providers.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes