FTX affiliate: Trade on FTX exchange and get 5% of your trading fees back.

Categories
Polkadot Sora

What is PSWAP token used for?

How PSWAP token is used in Polkaswap. Polkaswap is a cross-chain liquidity DEX protocol for swapping on Polkadot and Parachains.

PSWAP token is


The token connected to Polkaswap DEX on Sora (a parachain on Polkadot).

PSWAP token is used for


  • Incentivize liquidity
  • Burning

How could value accrue to PSWAP?


Fees

  • 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?

Features

  • Cross-chain decentralized DEX aggregator.
  • High speed
  • Low fees

Liquidity pools

  • 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.

AMM

  • 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.

Soft launch

  • At first Polkaswap supports only Ethereum network bridge, SORA and Ethereum tokens.
  • DOT and KSM will be added at full launch.

More here.

PSWAP token Isssuance


Max supply: 10 billion

Circulating: ~600M

Distribution

  • ~6% rewards
  • 25% bonding curve rewards
  • 35% liquidity
  • ~4% market making
  • 30% team (at full launch)

Presale: None.

Docs


Similar projects


PSWAP token price


Crypto tax affiliate

Koinly was the only service that actually solved our problem with DeFi and Crypto tax.

 

Affiliate: Learn more about blockchain and crypto with courses at Skillshare.