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LUNAFSWAP will be a decentralized exchange developed to facilitate the swapping of BEP-20 tokens.
BEP-20 is a Binance Token Standard that needs to be followed on the Binance Smart Chain. This is an abbreviation that is short for Binance Smart Chain Evolution Proposal. That said, if any other token standard wants to be transferable on LunafSwap, it needs to be wrapped in the BEP-20 standard for the swap.
The main point of the appeal behind LunafSwap will be that it is a fully decentralized exchange where the orders and trades are automatically executed through smart contracts.
LunafSwap will work on automated market maker model (AMM), which means that while you can trade digital assets on the platform, there is not an order book where you are directly matched with someone else. All trading occurs against a liquidity pool.
With LunafSwap, users will be able to buy/sell their tokens on Luna Freaks website. 100% of fees collected from the swap will be used to burn LUNC.