"Planet Finance is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. Planet Finance uses an automated market maker (AMM) model where users trade against a liquidity pool. Users can easily add liquidity to these pools. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
Planet Finance also allows users to earn additional tokens for providing liquidity. Within vaults, users can deposit LP tokens and receive either AQUA or GAMMA for providing their monetary energy to make decentralized swaps possible.
AQUA is the governance token for all of Planet Finance that is bought & burned by the protocol
GAMMA is the utility token that will power Planet Finance’s ecosystem forever which is launching in Q4 2021."
Planet Finance has a trust score of 5/10 on CoinGecko, ranking #651 globally. Trust score is based on web traffic, volume legitimacy, cybersecurity practices, and API data quality.
What are Planet Finance trading fees?
Planet Finance charges a maker fee of 0.2% and a taker fee of 0.2%. Fees may be reduced by holding the exchange's native token or using a referral code.
Does Planet Finance require KYC?
Yes, Planet Finance requires identity verification (KYC) to access full trading and withdrawal features.
Does Planet Finance offer derivatives trading?
Planet Finance currently focuses on spot trading and does not offer derivatives products.
