Surely SUI Blockchain has been a name that has become very familiar to users recently. Following that, a series of projects sprang up when SUI officially mainnet. So to understand more about the SUI ecosystem, let’s learn about NojoSwap, a project about the AMM segment on this blockchain.
To understand more about NojoSwap, people can refer to some of the articles below:
- What is DEX? The Role Of DEX In DeFi
- What is Sui (SUI)? Sui Cryptocurrency Overview
What is NojoSwap?
Overview of NojoSwap
NojoSwap is an AMM DEX platform built and developed on Sui Network. With the goal of supporting development projects on SUI while providing people with attractive investment opportunities. It can be said that Sui Network is one of the most popular Layer 1 platforms today besides Aptos, so the number of AMMs on Sui will often be very large.
NojoSwap’s mechanism of action
NojoSwap is a typical AMM, the project includes 3 main products: AMM, Liquidity Farms and Reward Pools
- AMM: Similar to other AMM projects, AMM on NojoSwap will be where users can swap tokens in liquidity pools.
- Liquidity Farms: Where users can choose to provide liquidity to various projects, in return they will receive transaction fees from the pool and NOJO tokens from the project. This helps new projects have more liquidity, while also bringing users more profits.
- Reward Pools: where users can stake NOJO tokens to receive tokens of different projects. NojoSwap will build many pools to stake NOJO tokens, each user pool will receive a separate project token. Users can choose a suitable pool that brings high profits based on their investment strategy.
Currently, NojoSwap has only introduced 3 products in their project, they will continue to update new features in the near future.
In addition, the fees collected from AMM will be used to:
- 0.25% LP fee
- 0.05% to treasury (to create reserves + redeem and destroy tokens)
- 0.05% of AMM fees will be put into the treasury as a reserve for treasury spending (e.g. bug bounty program).
Any fees earned above this limit will be used to buy back and burn NOJO tokens to reduce supply. Additional cancellation mechanisms will be added in the future.
NojoSwap’s Development Roadmap
According to the official announcement on the project website, NojoSwap updates 2 main stages of development:
Before SUI mainnet
- AMM
- Liquidity Farm
- Reward pools
- User interface design
- Document page launched
- Released NojoSwap SDK
- IDO
- Integrate Bridges
After SUI mainnet
- Chain-based loyalty reward system
- Improved Swap feature on AMM
- DAO (Decentralized Automated Organization)
- Introduction to token burning mechanism
- Provides web data information
- Improved AMM
Core Team
Update…
Investors And Partners
Update…
Tokenomics
Overview information about Token NojoSwap
- Token Name: NojoSwap
- Ticker: NOJO
- Blockchain: SUI Blockchain
- Total supply: 1,000,000,0000
- Maximum supply: 1,000,000,000
Token Allocation
- LP Incentives: 52.5%
- Core Team & Devs: 30%
- Treasury: 10%
- Liquidity Bootstrap Event: 10%
- Early Users Incentive: 2.5%
Exchanges
Update….
Information Channel of NojoSwap Project
- Website: https://nojoswap.com/
- Twitter: https://twitter.com/nojo_swap
- Discord: https://discord.com/invite/2zVYnrGnYA
- Medium:
Summary
NojoSwap is a typical AMM project built on the SUI blockchain. However, to be able to compete with many other prominent AMM projects, NojoSwap needs to build many new and creative features to attract users. Only then can the project survive for a long time along with the strong development of the SUI ecosystem.