Paraswap (PSP)

Basics

• Based in:
• Founded in:
• Testnet release:
• Mainnet release: 9-2019

Audits & Exploits

• No evidence of a ParaSwap Bug Bounty program was found in their documentation or in web searches (5-7-2021).
• Scored a 53% on DeFi Safety (5-7-2021):

"PeckShield published a ParaSwap audit report on April 22nd 2021.

Solidified published a ParaSwap audit report on April 6th 2021.

Certik published a ParaSwap audit report on March 6th 2021.

Note 1: ParaSwap was launched in September 2019.

Note 2: Most fix recommendations were implemented by the team."

With the comment: "Excellent documentation and team transparency, with decent security. The two places they unfortunately lack is in the publishing of tests and Admin Access Controls."

Bugs/Exploits

• Had its deployer address compromised, no vulnerabilities were found (12-10-2022).

Governance

Admin Keys

• From DeFi Safety (5-7-2021):

"No admin access control information was found in the ParaSwap documentation. No evidence of a Pause Control or similar function in ParaSwap's documentation and GitHub repository."

Treasury

• Plans to stake their treasury (or parts of it) in Bancor V3 (9-3-2022).

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on:
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Upgrades

• From EthHub (4-5-2021):

"With this update ParaSwap is now 10% cheaper than Uniswap (gas-wise), a new gas token has been introduced, a new algorithm has been launched and more."

Scaling

• From this tweet (12-10-2020):

"StarkEx will enable ParaSwap to offer inexpensive swaps at scale."

Roadmap

• Can be found [Insert link here].

Pros and Cons

Cons

• Had investment from Alameda Research/FTX, which came out (11-11-2022) during the FTX crash. This could mean fall-out risk.

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Mounir Benchemled; founder

Funding

• Turned out (8-12-2022) to have sold $200k worth of tokens to Alameda.
• Matter Labs; according to Matter Labs, the founders and leadership of a bunch of DeFi projects, among which this project, joined in on the $50m raise for zkSync (8-11-2021).
• From Decrypt (17-9-2020):

"Has finished a round of seed funding, which raised $2.7 million. [It] received funding from over 30 investors. Among the list are CoinGecko, Blockchain Capital, a venture firm in the blockchain space, and Stani Kulechov, the founder of DeFi protocol Aave."

Partners 

• Participated in the DeFi Alliance’s accelerator program (18-9-2020).