PSWAP token is
The token connected to Polkaswap DEX on Sora (a parachain on Polkadot).
PSWAP token is used for
- Incentivize liquidity
How could value accrue to PSWAP?
- 0.3% fees on trades of which 10% used to buyback and burn PSWAP. Will increase to 65% over 5 years.
What is Polkaswap?
Polkaswap is a cross-chain liquidity DEX protocol for swapping on Polkadot and Parachains. Bridges are also being developed to enable Ethereum and Bitcoin on Polkaswap.
How does it work?
- Cross-chain decentralized DEX aggregator.
- High speed
- Low fees
- Fees are paid in XOR
- converted in PSWAP and then burned.
- A percentage of the burned amount is then re-minted and given to liquidity providers.
- PSWAP rewards start at launch at 100% of burned tokens and go to 35% over the course of five years.
- Option to trade against standard AMM function x*y=k
- Or trade against the TBC. Token bonding curve for XOR token. Which mints XOR and may cause less slippage for a given trade.
- At first Polkaswap supports only Ethereum network bridge, SORA and Ethereum tokens.
- DOT and KSM will be added at full launch.
PSWAP token Isssuance
Max supply: 10 billion
- ~6% rewards
- 25% bonding curve rewards
- 35% liquidity
- ~4% market making
- 30% team (at full launch)