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View ChartParaSwap (PSP) is a decentralized exchange aggregator built on the Ethereum platform. It is designed as a DeFi software solution that accumulates data from numerous cryptocurrency exchanges and facilitates trading across them. By uniting the liquidity of several decentralized exchanges, ParaSwap aims to obtain the best possible exchange rates for traders, ultimately saving them money on each swap.
The protocol aggregates decentralized exchanges and other DeFi services into a single interface, routing trades through the most efficient paths available. The PSP token launched on November 15, 2021, and carries a maximum supply of 2,000,000,000 PSP. The project operates in the Decentralized Exchange and Yield Farming categories. As of September 16, 2025, ParaSwap began transitioning its governance and utility toward the VLR token as part of a rebrand to Velora, with PSP migratable 1:1 into VLR.
ParaSwap was founded by Mounir Benchemled. In a November 15, 2021 CoinDesk article, Benchemled stated that the timing of the PSP airdrop was contingent on the development of the base platform. He has also been referenced as the founder of Velora in the September 16, 2025 announcement regarding the project's rebrand and token migration. Beyond the founder, detailed public information about the broader core team is currently limited.
ParaSwap operates as a decentralized exchange aggregator. It collects and analyzes data from many cryptocurrency exchanges and DeFi services, then unites the liquidity of multiple DEXs to obtain the best exchange rates for users. When a trader initiates a swap, the protocol routes the order through the most favorable liquidity sources available, rather than relying on a single exchange. This aggregation model is intended to reduce slippage and improve pricing efficiency for traders. The protocol runs on the Ethereum platform and interacts with various decentralized exchanges and DeFi services.
ParaSwap's primary value proposition lies in its aggregation model. Rather than competing with individual exchanges, it connects them, pooling liquidity to secure optimal rates for traders. This approach is designed to save traders money by reducing the cost of each swap. The protocol's ability to aggregate both decentralized exchanges and other DeFi services broadens its utility within the DeFi ecosystem. Additionally, the project has attracted backing from notable investors and has been recognized in development activity rankings, indicating ongoing technical engagement. Its categorization under both Decentralized Exchange and Yield Farming reflects its dual role in trading and liquidity provision.
The PSP token serves as the native utility and governance token of the ParaSwap protocol. It is used within the ecosystem to facilitate trading and liquidity aggregation activities. PSP holders participate in governance decisions affecting the protocol. The token can be traded on various platforms and swapped through onchain products. As part of the Velora rebrand, PSP utility is being transitioned, and holders can migrate PSP 1:1 into the VLR token. The migration is a one-click, gasless upgrade to Base and will remain open for at least one year from September 16, 2025. Popular conversion pairs include PSP to AUD, BRL, CAD, EUR, GBP, HKD, RUB, SGD, TWD, and KRW.
The ParaSwap ecosystem has seen significant development since its inception. The project raised a total of $5.7M across five completed rounds, including Token Launch, Private, and three additional rounds. A funding round on May 10, 2021, raised $3M led by Blockchain Capital, while a seed round on September 17, 2020, raised $2.7M with participation from Alameda Research, Arrington XRP Capital, Lemniscap, and CoinGecko. In total, eight backers are listed, including Blockchain Capital, Blockchain.com Ventures, Alliance, White Star Capital, Alameda Research, Arrington XRP Capital, Lemniscap, and CoinGecko.
The ecosystem entered a new phase on September 16, 2025, when ParaSwap announced it would end PSP utility as the Velora rebrand shifts governance to the VLR token. PSP can be migrated 1:1 into VLR, with the migration remaining open for at least one year. The project has also appeared in multiple Chain Broker announcements, including rankings for development activity growth and largest rank changes, reflecting continued visibility in the DeFi space.
PSP is not mined through traditional proof-of-work mechanisms. The token operates on the Ethereum platform and was distributed through airdrops and token launch events. According to the vesting schedule, airdrops were 100% unlocked, while other allocations such as the Pre-Seed Round, Seed Round, Team, Future Team, Liquidity, and Development followed specific cliff and monthly vesting periods. For example, the Development allocation had a 12-month cliff with 2.78% monthly vesting, and the Seed Round had a 3-month cliff with 5.0% monthly vesting. Users can acquire PSP through trading on supported platforms or by participating in the migration to VLR.
Keeping PSP safe requires following standard cryptocurrency security practices. Store your tokens in a reputable wallet that supports Ethereum-based assets, and consider using hardware wallets for long-term holdings. Never share your private keys or seed phrases with anyone. Be cautious of phishing attempts and only interact with official ParaSwap or Velora links, such as the official website and Twitter account. Since the migration to VLR involves a one-click, gasless upgrade, verify that you are using the official migration portal before proceeding. Regularly update your wallet software and enable two-factor authentication where available. Remember that crypto markets are highly volatile, and prices can move sharply in either direction.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for PSP are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of ParaSwap (PSP) is $0.000949. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated PSP to USD rate at the top of BTCC’s price page. In terms of market scope, ParaSwap records a 24h trading volume of $15.222859 (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $707.534311K. Its current circulating supply stands at 744.98M out of a maximum supply cap of 2B.
The price volatility of ParaSwap (PSP) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (744.98M) to max supply (2B), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, ParaSwap (PSP) hit an all-time high (ATH) of $7.602917 on 2021-11-16 07:40, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $0.000935 on 2026-06-30 13:35. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading PSP futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($15.222859), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s PSPUSDT perpetual contracts support two-way trading. If you anticipate a price decline for ParaSwap, simply log into your BTCC account with USDT margin available, navigate to the PSPUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for PSPUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.000949), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for PSPUSDT with zero financial risk.
Trading ParaSwap (PSP) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for PSPUSDT, and review its live price ($0.000949) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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