Fairyswap is about to start cold start. Fairyswap, as the first Dex launched by Findora, the leader in privacy public chain, has attracted the attention of many original Findora community groups. This article will take you to experience the innovation of Fairyswap and the benefits that our users can now participate in.
FAIRY is Fairyswap’s governance certificate. Holders can participate in various functions of decentralized transactions, such as transaction fee discounts, platform airdrops, etc., and can also participate in the governance of the agreement. For example, most FAIRY tokens will pass Community incentives and liquidity mining are distributed, with the goal of achieving a balance between high market utilization and wide distribution of governance participants. FAIRY holders can participate in the voting of Fairy improvement proposals (such as adjusting mining pool parameters and liquidity mining multipliers, increasing or reducing trading pools, integrating new ecosystems, tax policies, etc.) to jointly determine the best agreement solution.
FAIRY tokens will also be used to reward liquidity providers who lock LP tokens in the farm through liquidity mining to optimize the stability and consistency of locking liquidity on FairySwap. Early liquidity miners or supporters will receive extremely generous reward distributions. And FAIRY can also be the main bargaining chip for some IDOs to play new activities in the future. As the first DEX in the Findora ecosystem, Fairyswap is favored by many people, and many people have participated in official activities.
FAIRY tokens will not be distributed to teams, investors, consultants or any form of internal personnel. FairySwap is completely driven by the community and started fairly, which means that Fairy will fully represent the rights and interests of the community. A total of 10,000,000 FAIRY tokens were minted during the creation of mining, 100% of which will be distributed to the community according to the distribution table. The majority (97%) of FAIRY tokens will be dedicated to community vaults and distributed through liquidity mining. The remaining 3% of FAIRY tokens are dedicated to other community rewards, such as airdrops.
Exchange circuit shuffle
No one will deny that under the impact of DEX, the trading track will undergo a brand new reshuffle.
Before DEX entered the public eye, competition in the trading market was mainly concentrated between centralized exchanges. From products to services, from assets to traffic, from community forums to media and public opinion wars, the fierce competition on the trading track is beyond imagination.
If we want to make a phased summary of the competition, it is that the trading giants have the right to speak of funds, resources, users and the market, and this head effect is becoming more and more obvious, and the living space of second and third-tier exchanges is getting narrower and narrower. It can even be said that it is difficult to see a major change in the pattern of the centralized trading track in the short term.
There is no doubt that DEX is the most powerful challenger in the current exchange landscape. Although DEX is coming aggressively, the phenomenal scale and market share of this track are far from being finalized. According to Dune Analytics data, in the Ethereum DEX field, Uniswap currently accounts for nearly 60% of the market share, but Ethereum’s high handling fees have shut out many small investors, and it has also been jokingly called “the noble chain.” A market with huge potential and an undecided pattern naturally attracts many smart people, so we can see many DEX products spring up like mushrooms.
Just recently, Fairyswap broke into the mainstream market’s vision. All users with Findora accounts can participate in the ultra-high-yield blind mining activities on FairySwap in the early days, and participating users are also expected to receive the Genesis Fairy NFT in the Findora ecosystem.
During the cold start phase, the FRA assets on the original chain UXTO can be transferred to the EVM chain, and most of the existing Findora ecosystem tokens will also be able to be traded on FairySwap, and users can obtain Findora EVM grants based on FairySwap Trading experience. During the cold start period, users only need to transfer FRA assets to the EVM chain to be considered as successful participation in mining, free of charge losses and various consumption costs.FairySwap will also accumulate early communities and users for Findora’s DeFi ecosystem, and the Findora ecosystem is expected to reach 50M-100M in TVL between January and February 2022.
FairySwap itself has a low transaction fee. The DEX transaction fee is 0.3%, of which 0.15% is given to Liquidity provider, and the other 0.15% is used to repurchase Fairy and destroy it. The destruction mechanism will only reduce the number of Fairy and increase its value. . From the perspective of investment transaction risk, the risk will not be too great. Because Fairy will be fully circulated in the market at that time, it is impossible for the platform to control the currency price. And the platform will spend 100% of the processing fee to repurchase the platform currency on the market, which is the most deflationary result for Fairy. Because of the existence of the handling fee, there is enough money to buy back and destroy Fairy.
During the cold start, the official released a total of 300,000 Fairy, 240,000 pre-mined mines, pledged FRA, and obtained Fairy;
60,000 are used for tasks. During the cold start period, the overall APY for FAIRY incentives is still relatively high (transfer FRA incentives FAIRY). After the cold start, FairySwap will further open liquidity mining and so on. The earlier you participate, the higher the incentives you get.
In addition to Fairy’s rewards, users may also get Fairy NFT, Fairy NFT, similar to apes and cyptopunks, and there will be fairies-growing RPG games going online later. Through Gamefi, users can consume Fairy and FRA to buy avatars.
The Fairy NFT series is regarded as the first NFT series launched by FairySwap, and it is also regarded as a welfare contribution to the community. This series is supported by Findora. By integrating the privacy technology of Findora public chain, it will realize more secure data management and privacy protection functions, and build an identity verification system in a decentralized and private form, which is suitable for all kinds of applications, especially Metaverse. The construction of the sector provides a basis for standardization and compliance.
Ethereum is very strong, but the ecology established by Findora is gradually improving. As the king of public chains, Ethereum has the most prosperous DeFi ecology and the most powerful network effects, and congestion will inevitably lead to traffic overflow and re-selection. This is also an opportunity for other public chains and new DEXs. For DEX, what needs to be reached is more high-quality assets and a wider range of traffic. Multi-chain and cross-chain are inevitable choices. This development trend FairySw sees clearly and is continuing to iterate.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/findoras-first-dex-strikes-fairy-swap-officially-debuts/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.