ParaSwap, a decentralized exchange platform, has launched its governance token, which is available to claim for Ethereum addresses. The token enables users to participate in its DAO governance. Today’s price is $1.89 and has a 24-hour trading volume of over $12,794,805. Despite years of resistance, the project still maintains that it is not planning on an airdrop. According to Mounir Benchemled, the timing of the airdrop is contingent on the platform’s development.
Benchemled explained that they preferred the product over the token, as they believed that decentralized decentralization was the reason for the presence of the token. There is a reason why ParaSwap didn’t announce an airdrop was that they were worried about a Sybil attack, which is a type of attack that can easily expose an airdrop to exploitation. Past high-profile releases have been tarnished by controversy, such as the release of Ribbon Finance’s RBN, as it was exploited by a venture capital firm. ParaSwap is a decentralized platform that enables users to interact with a decentralized exchange and other DeFi services. It features a comprehensive interface that simplifies the process of accessing decentralized finance.