As centralized exchanges are increasingly facing legal issues and non-transparency in the use of users’ assets, the development of decentralized exchanges on layered Blockchain ecosystems is important. 1 is increasingly urgent. Today, let’s learn about one of the decentralized exchanges on Sui Blockchain, WispSwap.
To better understand WispSwap, 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 WispSwap
Overview of WispSwap
WispSwap is a decentralized exchange built on Sui Blockchain. The project allows you to trade all types of tokens available in the Sui ecosystem.
Project products
WispSwap is one of the first and most important developed products in the project’s product suite.
This is the interface of the project’s Swap feature. Similar to Uniswap v3, Wishswap allows liquidity providers within a fixed price range. Therefore, it brings higher efficiency in capital use. However, Wispswap also developed a more innovative feature, which is that liquidity providers can provide their liquidity in two different buying and selling price ranges.
In a conventional centralized liquidity provision mechanism, liquidity providers will have to provide their liquidity within a certain price range, regardless of whether people buy or sell. But with WispSwap’s new mechanism, LPs can choose two different price ranges to provide liquidity, for example they can provide liquidity to everyone buying ETH at the price range of 1,700 – 1,800, and provide liquidity to everyone who buys ETH at the price range of 1,700 – 1,800, and account for those who want to sell ETH in the price range of 1,100 – 1,300. This will help them make more profits when the market aligns with their liquidity provision strategies. However, it also requires LPs to need more capital and the efficiency of capital use is sometimes not as good as just providing liquidity within a certain price range.
The project will charge a fee of 0.3% for each transaction, of which 0.25% will be paid to liquidity providers, 0.05% will be returned to the fund for project development. Due to the use of two liquidity provision mechanisms, there will also be two types of liquidity pools on Wispswap. The first is a centralized liquidity pool similar to Uniswap v2, and the liquidity pool uses an improved liquidity centralization and liquidity pooling mechanism.
In addition, liquidity providers after providing liquidity to the pool will receive LP tokens, however they can swap it into spNFTs, to participate in programs to earn more profits from the project. This point is quite similar to Uniswap v3.
WispSwap’s second product is a price prediction exchange Binary Option Prediction Market. You can easily predict the prices of different token pairs in the SUI ecosystem. For example: You predict the price of SUI-USD to be higher at one point. If the actual price increases higher than the floor price offered at that time, you win, otherwise you lose. WispSwap uses data from Chainlink Oracel for price determination. And the data source will be updated regularly every 5 minutes.
In addition, WispSwap also offers a number of additional products such as Stake, Lending, Farming and Launching, but all of them have not been launched at the time of writing. I will update more information when there is the latest announcement from the project.
WispSwap’s Development Roadmap
The 1st quarter
- Launched official website
- Launch Zealy program for the community
- Announcement of cooperation with partners
- Alpha release of Devnet/Testnet Apps that offer swap and liquidity features
- Integrates with major wallet projects on Sui
- Alpha release of The first decentralized prediction market on Sui
Q2
- Develop strategic partnerships
- Organize a price prediction trading contest with a prize of up to $4,000
- Smart contract audit via Movebit
- Upgraded user interface
- Integrate the cross-chain bridge with the Celer network
- Mainnet WispSwap DEX
- Launch of WISP token
- Released Wisp-Prediction on BSC and Poygon networks
- Provides API for market makers, arbitrageurs, and traders.
- Mainnet Wisp-Prediction
Q3
Quarter 4
- Provides leveraged trading feature in DEX and Wisp-Prediction
- Release of Wisp-Prediction v2 featuring real-world events on Sui Mainnet
- Upgrade UI/UX
- Partner with Yield Aggregators
- Upgrade platform performance
Core Team
Update…
Investors
The project announced that they are partners with projects such as OKX wallet, Martian, Suiet, Supra Oracles, Stakin, Wormhole, Celer, Algebra, Onemind.
Tokenomics
Information about tokens
- Token name: WispSwap
- Ticker: WISP
- Blockchain: SUI
- Total supply: 100,000,000
Token Allocation & Release
- Liquidity Mining: 40% – Reward for providing liquidity for 3 years.
- Private Sale: 1.5% – Unlock 15% as TGE, 35% as WISP for 4 weeks, and 40% as veWISP.
- Public Sale: 5% – Unlock 25% as TGE, 35% as WISP for 4 weeks, and 40% as veWISP.
- Reserves & Treasury: 12% – Pre-created in a multi-signature wallet.
- Partnerships: 4% – Lock 6 months, unlock linearly in 2.5 years.
- Enchanted Pools: 5% – Linear unlock for 6 months as veWISP.
- Ecosystem: 5% – Unlock 4.8% upon TGE, and unlock linearly for 1 year.
- Development & Marketing: 12% – Linear unlock for 3 years.
- Airdrop: 3.5% – Unlocks 1.5% for 1 year for early adopters, and 2% for future events.
- Core Contributors: 12% – Lock for 1 year, unlock linearly for 2 years.
Exchanges
Update…
WispSwap Project Information Channel
- Website: https://www.wispswap.io/
- Twitter: https://twitter.com/WispSwap
- Discord: https://discord.gg/jf7jhgyrNh
- Medium:
Summary
WispSwap is a project with many improvements compared to the Uniswap v3 model, in addition the project also provides more products such as user rights trading. These are two new points that I see as different from other projects. If you are interested in the project, don’t forget to follow me to update the latest information.