## What Is Swaperry (PERRY)?

Swaperry is a decentralized exchange (DEX) designed to be highly performant, transparent and feature-riched to asset traders. It is built on top of the Polkadot ecosystem, which aims to offer scalability, noticeably faster transactions and cheaper fees.

PERRY is the native utility token that is used for:

* Unlocking more advanced trading functionalities for superusers.
* Sharing revenues from transaction processing fees.
* Participating in governance voting.

Swaperry’s current products include:

* A user-friendly, AMM-based exchange with advanced features, previously only available on centralized exchanges, like limit order, options, derivatives.
* Cross-chain support within the polkadot ecosystem and eventually externally to other popular blockchains (bitcoin, ethereum, etc).
* A suite of tools that help traders analyze the market, aggregate prices and make informed decisions.

## What problems do Swaperry solve?

2 types of exchanges currently exist on the market. Centralized exchanges (CEX) are traditional exchanges, powered by an off-chain system, and usually enable asset trading via orderbooks. Decentralized exchanges (DEX) are a new form of exchange that have been gaining popularity recently. Their decentralized architecture allows users to trade in a non-custodial, secured, and anonymous manner. Most popular DEXes employ an automatic-market-maker (AMM) approach to facilitate trading, as opposed to orderbooks.

While DEXes saw huge increase in usage the past few years, CEXes are still producing most of the trading volumes, because DEXes come at a price: 1) transactions are often delayed and slow, 2) most DEXes do not offer cross-chain trading, 3) user interface is more confusing, 4) advanced features like options, limits and margins, are non-existent.

Swaperry aims to be the next generation of DEXes, by solving all those 4 limitations. Taking advantage of Polkadot, a blazing fast & cost-effective parachain ecosystem, Swaperry employs intelligent algorithms and optimization techniques that make trading feel comparable to that of CEXes. Ultimately, it sets an ambitious but achievable goal to show the world that CEX is the past and DEX is the future.

## How Many PERRY Tokens Are There in Circulation?

Swaperry plans to launch on mainnet in July with 10 million PERRY tokens created at genesis. Additional tokens are minted linearly over the next 5 years, to a total of 200 million tokens, to support the product, its development and future expansion.

The allocation of all tokens are as follows:

* 6% Seed Sale
* 16.5% Private Sale
* 2.5% Public Sale
* 9% Marketing & Listing
* 20% Team Founders & Advisors
* 6% Ecosystem
* 20% Liquidity Mining
* 20% Foundation

### Who Are the Founders of Swaperry?

Swaperry was built with passion by Phil Dang (CEO) and Tuan Nguyen (CTO), both of whom have a strong background in engineering.

Phil Dang, was a senior software engineer based in Silicon Valley. He worked at Facebook, followed by Google, for many years. He met and befriended Tuan Nguyen, a veteran engineer at U.S. Motorola, on a business trip in 2015. The two shared an excitement for blockchain technology, and later formed the Swaperry team in September 2019.

The project grew to become Swaperry, now with nearly 20 engineers, and a wide panel of established advisors, including founders of Rikkeisoft, PolkaFoundry, Kyber Networks and Tomochain.

### Where Can I Buy PERRY Tokens?

Swaperry is currently in its pre-launch phase so its tokens are not yet on the market. It is planning to IDO in June and IEO on popular exchanges in July.

Please check back later for updates.