Categories
DEX Ethereum

What is the ORN token used for?

ORN token is

The utility token of ORN protocol.

ORN token is used for

  • Receive perks and discounts on the platform
  • Staking

How could value accrue to the token?

Locking

Staking to receive trading fees.

Licensing fees

100% of licensing fees from Orion Protocols DeFi products will be used to buy ORN tokens.

What is Orion Protocol?

Orion is a solution and trading platform to aggregate liquidity across chains and exchanges – in the Orion Terminal.

How Orion Protocol works

Orion is built on DPoB (Delegated Proof Of Brokers) a network of brokers and stakers.

Brokers runt the Orion Broker Software to execute trades.

Requirements for Brokers

  • $10,000 equivalent of ORN staked. The more ORN tokens staked, the higher the chance of being chosen.
  • Broker Software.
  • Multiple exchange accounts.

The broker executes trades from the liquidity aggregator via their exchange accounts and receive trading fees.

Voters

Non-brokers stake ORN tokens to vote for their broker of choice, based on the benefits a broker shares with voters.

Staking

Earn terminal transaction fees by staking tokens.

Discounts

  • When paying with tokens.

Token Isssuance

Total supply: 100 000 000

Released over 20 monthts.

Distribution

45% Token sale
6% Advisors
13% Marketing
12% Team
24% Orion Foundation

Issuance price: $0.1

Docs

Similar projects

ORN token price

Categories
DEX Solana

What is the RAY token used for?

RAY token is

RAY is the utility and yield farm token of Raydium protocol.

RAY token is used for

  • Yield farming
  • Staking to earn fees.

How could value accrue to the token?

Fees

What is Raydium?

Raydium is an automated market maker leveraging the Serum DEX on the Solana Blockchain.

How Raydium works

Features of Raydium

  • Raydium offers a central orderbook via Serum instead of only separate pools.
  • High speed
  • Trading interface with charts

Trade

  • Anyone can create and trade through permissionless pools on Raydium.
  • And use Raydium trade UI with limit orders

Launchpad

Any project can launch their token through the Acceleraytor.

Token Isssuance

Total supply: 555,000,000

Token issuance:

  • 34% Mining Reserve
  • 30% – Partnership & Ecosystem
  • 20% – Team (1 – 3 Year Lockup)
  • 8% – Liquidity
  • 6% – Community & Seed funding (1 Year Lockup)
  • 2% -Advisors (1 – 3 Year Lockup)

Docs

Similar projects

RAY token price

Categories
Crosschain DEX

What is ANY token used for?

ANY token is


ANY is the governance token of AnySwap AMM.

ANY token is used for


  • Governance of the protocol
  • Incentives

Currently the only governance is for selecting AnySwap nodes.

How could value accrue to the ANY token?


Potential

Governance tokens can provide cashflow to token holders through protocol fees.

Fees

0.3% on Swaps to LPs and 0.1% to AnySwap currently.

What is AnySwap?


AnySwap is a decentralized exchange on the Fusion blockchain. It specifically allows for cross-chain bridging of tokens.

How AnySwap works


AnySwap is an automated market maker just like Uniswap or Sushiswap. It runs on Fusion blockchain and Fusion DCRM technology.

  • Cross Chain Bridge — Users can deposit any coins into the protocol and mint wrapped tokens in a decentralized way.
  • Cross Chain Swaps
  • Liquidity providers could add and withdraw liquidity into swap pair.

The primary use case is enabling moving of tokens between blockchains.

Currently you can move tokens between:

  • Fusion
  • Fantom
  • Ethereum
  • Binance Smart Chain

Users pay

0.4% of the sum being transferred. Of this 0.3% goes directly to Liquidity Providers and 0.1% goes to Anyswap.

Read more here.

ANY token Isssuance


Max supply: 100 million

  • 10% – Teams Liquidity pool
  • 5% – Community and Ecosystem
  • 85% Blockreward
    • 10% – Cross-chain DCRM Node reward
    • 15% – Liquidity Reward
    • 15% – Team Reward
    • 20% – AnySwap company
      • 25% – Swap and trading reward

Docs


Similar projects


ANY token price


Categories
DEX Ethereum

What is 1inch token used for?

1inch token


1INCH is the utility and governance token of 1inch Exchange.

1inch token is used for


Staking

  • Both token holders and liquidity providers can earn rewards and vote on protocol changes.

How could value accrue to 1inch token?


Governance tokens provides a potential of future cash flows to token holders.

Fees manageable by governance

  • Primarily the spread surplus (the swap price sometimes moves between the time of the quote and when it is mined). Starting out, all goes to referrers but is subject to change through governance.
  • Price impact fee
  • Swap fee
  • Governance reward
  • Referral reward
  • Decay period.

More in-depth here.

How 1inch Exchange works


1inch.exchange is a DEX Aggregator that checks 33+ liquidity protocols to find the best and most efficient swap paths, allowing traders to conduct more efficient token swaps at the best trade prices possible at any time.

1inch Liquidity Protocol

  • An Automated Market Maker (AMM) that works on the Delayed Price Updates mechanism.
  • Increases rewards for Liquidity Provider, protects swappers from front-running attacks, and reduces profits for arbitrageurs.
  • Version 2 of the Liquidity Protocol is an updated version of the AMM also known as Mooniswap.

Token issuance


Total token supply: 1,500,000,000 1INCH; Maximum vesting period: 4 years.

  • Initial circulating supply: 6% (allocated to the security of the network, maintenance of its functionality, marketing, and community development.)
  • 20 % Investors and shareholders
  • 0,5 % Liquidity pools
  • 30% Security and maintenance
  • 22.5% Core team and future employees, which will be unlocked and distributed over the next four years.
  • 21% Ecosystem growth (community) and 2% to Mooniswap liquidity providers (1-year vesting).

All wallets that interacted with the 1inch protocol before 24th December will get the 1INCH tokens, provided that they meet the following requirements: Completed at least a trade before 15th September, 2020; or four total trades worth at least $20.

Docs


Docs

Similar projects


1INCH price


Categories
DEX Ethereum

What is BNT token used for?

BNT token


BNT is the utility and governance token for the protocol.

BNT token is used for


How BNT token works


BNT role is an intermediary token that connects liquidity pools in the network and across blockchains. In for example Uniswap, ETH is the reserve token used to facilitate trades. In Bancor, BNT is used.

BNT has an elastic supply and is minted and burned to facilitate swaps and cross-chain trades.

How Bancor works


The Bancor Protocol is a network of smart contracts for token swaps enabled by pooling on-chain liquidity.

Bancor uses a bonding curve and was the first to introduced the concept of an AMM. Eventually made popular by Uniswap.

Bancor v2.1

This version offers two key features to it’s Automated Market Maker:

  • Liquidity Protection (i.e. Impermanent Loss Insurance)
  • Single-sided exposure

Providing any token (TKN) to a pool

  • Deposit is record with an ID.
  • Bancor mints BNT equivalent to TKN.
  • BNT and TKN are added to the pool.
  • LP receives 50% of pool tokens and the protocol receives 50%.
  • Protocol and LP earn 50% of fees from swaps.

Remove token TKN from a pool

  • LP inputs deposit ID, identifying a specific TKN deposit.
  • Calculate: The amount of pool tokens required to provide the LP with their full stake + protection + fees is computed. This value will be indicated in pool tokens but can also be converted to TKN or BNT.
  • Based on the availablity in the pool LP will receive the entire amount in TKN, or TKN + BNT to cover the full amount.

Providing BNT

  • As an incentive to provide BNT – BNT holders receive vBNT – the Bancor governance token when they stake/supply BNT.

Impermanent loss protection

  • 0% for the first 30 days.
  • 30% on day 30 
  • Increase by 1% point per day up to 100%.

At 100% insurance the LP will receive the same amount as a holder would for the same period.

More in this technical explanation.

Token issuance


Current supply: ~ 90M (variable)

  • 50% – public distribution. 
  • 20% – community grants, partnerships & bounties. 
  • 20% – Long-term foundation budget (locked for 2 years)
  • 10% – Founders, team, advisors, and early contributors (vested over 2 years)

Bancor announced a liquidity mining program on Nov 16. That could mint 28M Bancor at most. Around 40% of current supply.

Docs


Paper

Similar projects


BNT price


Categories
DeFi DEX Ethereum

What the UNI token is used for

What is Uniswap


Uniswap is decentralized exchange powered by a set of non-upgradeable smart contracts on Ethereum.

UNI token is used for


Uni token governance


The token will give the community immediate ownership of:

  • Uniswap governance
  • Community treasury
  • Protocol fee switch (0.05% of current 0.3% that goes to liquidity providers)
  • eth ENS
  • Uniswap List
  • SOCKS tokens

Parameters for Governance

  • 1% of total supply to submit a governance proposal
  • 4% to reach quorum
  • 7 day voting period
  • 2 day timelock delay

How Uniswap Protocol works


On Uniswap anyone can submit any tokenpair at a 50/50 ratio as a reserve. Trades are facilitated against these token pairs without any middlemen.

Liquidity providers earn 0.3% on every trade (proportional to total amount of liquidity) for that token pair.

Uniswap uses this formula to determine price and facilitate trade

x*y = k

TokenA * TokenB = Invariant

Example

Trading Fee: 0.3%

ETH Pool: 10

UNI Pool: 500

10 * 500 = 5000

Buyer sends 1 ETH to buy UNI. How many does he receive?

Fee: 0.003 ETH

ETH Pool: 10 + 1 – 0.003 = 10.997

So now we have:

10.997*y=5000

And to get the amount of UNI tokens left in the pool:

y=5000/10.997 = 454.669

500 – 454.669 = 45.331

Buyer receives: 45.331 UNI

After the trade the fee is added but into the liquidity pool. Redeemable for LPs when they remove their liquidity.

ETH Pool: 10.997 + 0.003 = 11
UNI Pool: 454.669

11 * 454.669 = 5001.359

After the trade the price has shifted, and another trade in the same direction will move the price further. Therefore the larger the trade the larger the price slippage.

If prices on Uniswap diverge from the outside market, arbitrageurs are incentivized to buy or sell the diverging tokens. Pushing to price toward the overall market price.

More on this in Uniswap v1 whitepaper.

UNI token issuance


Total: 1 000 000 000 Tokens + 2%/year after 4 years.

  • 60.00% Community [600,000,000 UNI]
  • 21.51% Team – 4-year vesting [215,101,000 UNI]
  • 17.80% Investors – 4-year vesting [178,000,000 UNI]
  • .069% Advisors – 4-year vesting [6,899,000 UNI]

Liquidity Mining 2020

September 18 – November 17 on Uniswap v2:

  • ETH/USDT
  • ETH/USDC
  • ETH/DAI
  • ETH/WBTC

5,000,000 UNI will be allocated per pool. See amount of liquidity in pools here.

  • 83,333.33 tokens per pool per day
  • 54 tokens per pool per block

How much UNI can you earn from staking in the pools?

It depends on the total amount of liquidity.

Let’s say there’s $100 000 000 in ETH/USDT. And you stake $1000.

5 000 000 / 100 000 000 = 0.05

0.05 UNI / $1

1000 * 0.05 = 50

That’s 50 UNI for the entire liquidity mining period of 3 months. So if you don’t have a large stack there might be better opportunities. Especially with high gas prices.

More here.

Claim UNI


If you have used Uniswap or been a liquidity provider before Sep 1 2020. You can claim tokens for free.

Docs


Docs

Paper (v2)

Paper (v1)

Competition


UNI price


Categories
DEX Ethereum

Why KNC token is needed in Kyber Network

KNC token is used for


  • Stake and vote
  • Stake and earn trading fees
  • Exchanges pay a fee in KNC for every trade.

More on staking and voting here.

What is Kyber Network?


Kyber is a bridge between tokens and applications.

It gathers liquidity from different sources into a single pool that DApps, Wallets, DEXs and users can integrate with.

How Kyber works


The protocol is implemented as a set of smart contracts on any blockchain that fits the requirements.

Kyber Core smart contracts

  • Provide functions for the listing and delisting of reserves and trading pairs.
  • Provide a function for users to query the best rate among all the registered reserves.
  • Perform the trades with the corresponding rate and reserve.

Token to Token Trade

Happens in a single blockchain transaction. Let’s take BAT to DAI as an example.

  1. User sends 50 BAT to the protocol contract, for DAI in return.
  2. Protocol contract sends 50 BAT to the reserve offering the best BAT to ETH rate.
  3. Protocol contract receives 1 ETH in return.
  4. Protocol contract sends 1 ETH to the reserve offering the best ETH to DAI rate.
  5. Protocol contract receives 30 DAI in return.
  6. Protocol contract sends 30 DAI to the user

Inter-blockchain Communication

Liquidity can be connected between various smart contract enabled blockchains.

  • A light client as a smart contract which can be implemented on both blockchains and an efficient algorithm to verify the hash functions from both blockchains.
  • Kyber has presented a proof of concept for relay approach between Ethereum and EOS.

More in whitepaper.

Token issuance


Supply: 210,440,861 KNC

Kyber ICO

  • 61.06% for the public
  • 19.47% for company
  • 19.47% for founders, advisors and early investors
  • Amount to raise: 200,000 ETH
  • Use of funds: 50% for the first reserve; 30% for development; 10% for the legal/ marketing; 10% for operation

ICO price: $0.380
Raised: $52,000,000

Docs


Whitepaper

KyberDAO

FAQ

What’s the story?


  • Tokenization of everything

Competition


KNC price


Categories
DeFi DEX Ethereum Governance

What the Sushiswap token (SUSHI) is used for

SUSHI token


SUSHI is the governance and utility token of Sushiswap.

SUSHI token is used for


What is Sushiswap?


A decentralized exchange and fork of Uniswap protocol.

How Sushiswap works


On Sushiswap users can

  • Swap tokens
  • Provide liquidity and earn trading fees + Sushi.
  • Stake Sushi for xSushi

Upcoming use-cases

  • Limit orders
  • Lending
  • Cross-chain
  • Options
  • Gasless transactions
  • Franchised pools
  • and more.

Read more here and here.

80 SUSHI is created per Ethereum block.

  • 10% to Multisig-controlled devfund.
  • 90% Yield farm

Governance

Liquidity providers on Sushiswap

Earn

  • Provide liquidity into a pool and earn SUSHI.
  • Earn trading fees in the pool.

Of the 0.3% trading fees:

  • 0.25% goes to the provider and
  • 0.05% is used to buy SUSHI tokens and is shared between xSushi holders.

More in this post.

SUSHI tokenomics


Max supply: 250 000 000

Ethereum blocks per day: ~5500

Original issuance when the project launched

  • 100 000 blocks x 1000 SUSHI = 100 000 000 SUSHI
  • 100 000 / 5500 = 18,18
  • The first ~18 days.
  • 100 000 000 SUSHI
  • Then per day
  • 5500 x 100 = 55000 SUSHI / day

Docs


What’s the story?


  • DeFi Hype
  • Uniswap with extra incentive mechanisms
  • Value add for LPs on the protocol
  • Fair token launch

Similar projects


SUSHI price


Categories
DEX Ethereum Governance

What the ZRX token is used for

What is 0x?


0x is an open protocol for peer-to-peer exchange of ERC-20 tokens on the Ethereum blockchain.

ZRX is used for


  • Staking
  • Trading fees
  • Governance

ZRX token


Token holders stake their ZRX

  • And earn liquidity rewards through market making and participating in governance over the protocol.
  • One Staked ZRX equals one vote.
  • Governance over the protocol is conducted by voting on ZEIPs (ZeroEx Improvement Proposals).

How 0x works


The 0x DEX is a set of smart contracts.

It uses a automated market maker and state channels for an off-chain order book with on-chain settlement.

0x transactions consists of 3 parties

  • Makers – Submit trades
  • Relayers – Manages the off-chain order book
  • Takers – Fulfills trades via DEX smart contract

Trades are merely signed messages until they are transmitted on-chain by Takers.

A transaction on 0x


  • User X choses to trade between token A and Token B.
  • User X sets acceptable price and signs the transaction with their private key.
  • User X broadcasts the transaction.
  • User Y who holds Token B accepts the trade.
  • User Y sends the transaction to the DEX.
  • If price and messages are valid the DEX updates balances of user x and y for the tokens.

Docs


Docs

ZRX Token issuance


Total supply: 1,000,000,000 ZRX

What’s the story?


  • Off-chain DEX

Competition


0x price


Categories
DEX Ethereum Prediction market

What is the GNO token used for?

What is Gnosis?


Gnosis is a protocol for creating open finance applications. Mainly prediction markets and decentralized exchange platforms.

Gnosis have created Gnosis Safe – a simple dApp for using multisig.

What is GNO used for?


Generate OWL tokens.

How does the GNO token work?


Gnosis Protocol enables ring trades; shared liquidity across all orders, rather than a single token pair.

Ring trades are suited for prediction market tokens and tokenized assets.

Gnosis uses two ERC-20 tokens.

GNO

OWL

  • The amount of OWL tokens that are then created depends on the length of the lock period and the total amount of OWL tokens in the market.
  • The total amount of OWL to be in circulation is targeted to be 20 times the average monthly usage of OWL for the preceding 3 months.
  • The smart contract applies the selected lock duration to a formula that is designed to regulate the total market supply of OWL tokens.

After locking the GNO tokens, 30% of OWL are generated instantly. The remaining 70% are gradually released during the lock period.

  • Each OWL token is redeemable for $1 USD worth of fees on the Gnosis platform.
  • Listing a token at the Gnosis smart contract level (to be accessed by all platforms) costs 10 OWL.

Protocol fees

  • The protocol takes only a 0.1% fee on trading volume.
  • 50% of the fee is paid to the selected order settlement provider, while the remaining 50% of the fee is burnt.

Why OWL?


  • It is utility that arises from locked GNO tokens.
  • When OWL is used, GNO will generate more OWL per locked token.
  • There will likely be an inflationary mechanism built into it where more OWL tokens are created if less than 90% of the fees are paid with OWL.

What is OWL used for?


  • Pay for fees on Gnosis platforms. 0.5% on each trade.
  • Pay fees to list tokens on the Gnosis protocol

Docs


Token issuance


Current Supply

  1. The total supply of tokens is 10 million.
  2. The ICO took place on 23 April 2017 with the total amount raised being $12.5M USD.
  3. The ICO token price was $29.85 USD.

GNO Price