What is Gameswap (GSWAP) | What is Gameswap token | What is GSWAP token

Gameswap is an innovative  decentralized exchange (DEX) for trading in-game items and  non-fungible tokens (NFTs). The project is community-driven, one of the first products being developed by  Shroom Finance. Shroom is a protocol for minting in-game assets on Ethereum.

What is Gameswap?

Gameswap is a  decentralized finance (DeFi) app aiming to bridge the gaming and crypto sector. The idea is to leverage crypto technology such as minting NFTs to trade virtual items from video games. At its core, Gameswap will act very much like an  automated market maker (AMM) for swapping tokens. However, instead of the primary trading pair being Ethereum (ETH), on Gameswap it will be its own native token GSWAP. The team highlights that many trading platforms for virtual skins claim to be peer to peer, but they are centralized. Gameswap aims to provide a transparent open source platform without any central points of control.

So it’s an NFT marketplace?

Yes, kind of. You can draw similarities with an NFT marketplace such as  OpenSea or  Rarible. However, the main difference is Gameswap will provide a bridge for in-game items to be minted into NFTs.

Essentially, users will be able to trade different in-game currencies as ERC20 tokens, buy/sell/swap NFTs, and cashout to various stablecoins. Most likely the platform will also support trading native crypto games such as Axie Infinity or Aavegotchi.

GSWAP is the platform’s governance token along with the main payment token for the platform. For example, if two gamers swap an in-game item as an NFT but there is a price difference. The trader will then use GSWAP tokens to cover the difference.

Next-gen DEX for in-game assets

GameSwap is a P2P in-game asset exchange leveraging Ethereum standards for fungible and non-fungible tokens (NFTs). It’s 100% community-driven, without central points of control or authority. It will work similar to Uniswap, with AMM providing liquidity via pools, but with a strong focus on in-game assets. However, unlike Uniswap, the base currency will be GSWAP instead of ETH.

The ultimate goal is bridging gaming and crypto asset trading with a neutral layer belonging to the users, making gamers feel at home and in control. All spiced with superior UX and economic incentives for both gamers and game devs.

That’s a badass landing page, innit?

In the home page users will be welcomed with the most popular games by assets trading volume and a list of trending/popular in-game items.

Please note that the games and items displayed in the following UI concepts are just fictional examples and don’t represent any kind of current partnership

The landing page is optimised for facilitating access to the rest of sections and allowing users to complete the most important actions using a small number of clicks. The user journeys can still be polished but we are pretty happy with the current flows.

TRADE VIEW

The trade section is the backbone of the DEX. On the left side users will see their inventory of assets once they connect their wallet, and on the right side users can browse and pick which assets they want to buy.

The inventory is simply an enhanced representation of your wallet’s NFTs. Current wallets have limited support for collectibles and ERC-721 / ERC-1155 standards, but we foresee it will be improved in the near-term as NFTs pick up momentum.

TRADE MODES

We will have several types of trades:

• ERC20 to ERC20 (these being in-game tokens).
• ERC20 to NFT, and vice versa.
• **NFT to NFT: **where the user can exchange one or several items for another .item (or group of items). Price differences will be settled in GSWAP.
• Cash Out: any in-game item, or group of items to stablecoin.

FILTERS

Navigating hundreds of thousands of items is not an easy task, so we will provide a strategic set of filters so users can quickly locate what they are looking for. Some example of the filter the UI will have are:

• Price
• Status: New, For Sale, in Auction, etc
• Token Standard: ERC-20, ERC-1155, ERC-721
• Color, etc

ITEM DETAILS

The single item view contains richer information about the asset. This includes a full screen picture, contextual game details, price history, volume (if there are more similar items of the same category), and trade history. All the history is retrieved from blockchain TXs.

The item details view gives a complete overview of the history of the asset.

As we add games, this view will eventually contain the option to explore the item in-game. Other options like building 3D previewers with three.js could also be considered.

BROWSE VIEW

The browse view is similar to the trade section but more focused on search, direct buys, and direct access to auctions. On the right users can find the same set of filters to easily locate targeted assets. On top of the assets grid the most popular games are features for easy access/filtering.

The browse view

In-game items auctions section, inside the item browser.

USER PROFILE

The user view provides a quick summary of the user’s funds as well as some stats within the exchange. A list of recent activity will also be displayed, linking to TXs of the most recent actions.

LAUNCHPAD

As one of the most exciting innovations that our ecosystem will be providing, the launchpad section will also be featured in the DEX so users are aware of what’s coming next. In this view, the community can check which games are being farmed, the details of the rewards, and they also can vote their favourite candidates.

We will cover the launchpad and mint modules in-depth in separate updates, since they are targeted to game developers and liquidity providers, while the DEX is targeted to gamers / end users.

Goodbye vegetables, we’re getting ready to farm games!

TECHNICAL NOTES

For now all the work has revolved around concept design and initial front-end coding of the components in Reactjs. Once the roadmap is approved by the community, implementation of the smart contracts will begin.

The goal is becoming a 100% distributed platform so the team is evaluating several technologies for storage (IPFS, DAT, etc) and distributed databases such as Gun.

This walkthrough doesn’t cover the full suite of features that the DEX will finally have. We are keeping some cards up our sleeve. Additional innovations will be unveiled as we keep building and integrating community contributions and feed-back.

How and Where to Buy Gameswap (GSWAP) – An Easy Step by Step Guide

Currently, GSWAP is being ranked 868 on Coinmarketcap

GSWAP has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy GSWAP.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)… We will use Binance here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence.

Step by Step Guide ☞ What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

But we are not done yet, since GSWAP is an altcoin we need to transfer our coins to an exchange that GSWAP can be traded, here we will use Bilaxy as our exchange. Bilaxy is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.

After going through a similar process as we’ve done before with Binance, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.

Deposit BTC to exchange

Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you’re done with it you should have full access to your exchange wallet.

If this is your first time making a crypto deposit, the screen here may look a bit scary. But don’t worry, it’s basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying ‘BTC address’, this is a unique public address of your Bitcoin wallet at Bilaxy and you can receive Bitcoin by giving this address to the person to send you the funds. Since we are now transferring our previously bought bitcoin on Binance to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard.

Now head back to Binance, go to Portfolio page and click on Bitcoin on your asset list, then click on ‘Send’ on the right.

Under the Recipient field, paste the wallet address in your clipboard, for security consideration you should always check if both address are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.

Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Bilaxy!

Now go back to Bilaxy and head to your exchange wallets, don’t worry if you haven’t seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.

You should receive a confirmation notification from Bilaxy once your deposit has arrived. And you are now finally ready to purchase GSWAP!

Trade GSWAP

Go back to Bilaxy, then go to ‘Exchange’. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let’s get our heads around this.

In the right column there is a search bar, now make sure “BTC” is selected as we are trading BTC to altcoin pair. Click on it and type in “GSWAP”, you should see GSWAP/BTC, select that pair and you should see a price chart of GSWAP/BTC in the middle of the page.

Below there is a box with a green button that says “Buy GSWAP”, inside of the box, choose the “Market” tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click “Buy GSWAP”. Voila! You have finally bought GSWAP!

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once GSWAP gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

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