Netswap is a decentralized trading platform built on Layer 2 Metis Andromeda that supports the exchange of cryptocurrency transactions. So what is Netswap? Let’s find out through the article below.
To better understand the article about what Netswap is, people can refer to some of the projects below to get an overview of Netswap.
- Metis and important points of this ecosystem
- What is Hummus (HUM)? Hummus Cryptocurrency Overview
What is Netswap?
Overview of Netswap
Netswap is the leading decentralized exchange (DEX) on Metis Andromeda. Allows exchange of different cryptocurrencies with low fees and lightning speed. The project is supported by teams with extensive experience in DeFi: WOWswap and Asteria Finance Labs.
By deploying on Layer2 users can experience trading for any ERC-20 asset at lightning speed of 1 second. With Asteria’s IL-Impermanent Loss prevention engine and Metis’s Layer2 platform, Netswap will bring more professional services to blockchain users around the world.
Netswap uses the same AMM (Auto Market Maker) model as UniSwap. However, Netswap is a native Layer2 DEX. Users can experience the platform with available products: Swap, Pool, Farm, Stake, Launchpad.
The Netswap difference
- The $NETT token is 99% allocated to the community.
- Unlike Uni, Netswap has launched leveraged liquidity pools for m.USDT, m.USDC, m.WOW..with APR up to 20%.
- Netswap supports up to 5x trading leverage through WOWswap. Liquidity farms are designed to eliminate IL (Impermanet Loss).
- Holder $NETT has the right to influence the protocol through: Modifying liquidity pools, activating swap mining programs, staking to participate in launchpad.
The components that make up Netswap
- Trader: Traders conduct cryptocurrency exchanges on the platform.
- Staker: Those who stake $NETT tokens and receive $wNETT tokens to participate in launchpad or $veNETT (coming soon) to increase profitability in some Farms + Administration.
- Liquidations Provider: Group of liquidity providers for the platform.
Mechanism of action
- Step 1: Swap any token to exchange for $NETT
- Step 2: Use $NETT to participate in activities: Launchpad, Staking, Farm, Pool.
Development roadmap
Until the end of Q1/2023 some features have been updated and improved such as: Cross-chain utility, Netswap ambassador program, new user interface for staking, $veNETT and Boosted Farms.
Core Team
Updating…
Investor
Updating…
Tokenomics
Overview information about NETT token
- Token Name: Netswap
- Ticker: $NETT
- Blockchain: Metis.
- Token Standard: ERC-20
- Contract: 0x90fe084f877c65e1b577c7b2ea64b8d8dd1ab278
- Token Type: Utility.
- Total Supply: 7,368,107 NETT
- Circulating Supply: 7,368,107 NETT
Token Allocations
Tokens are 99% allocated to the community, with the remaining 1% for airdrops.
Token Release
This supply has a vesting period of 5 years, with an initial 30% of tokens distributed to liquidity providers during the initial period and the remainder vesting gradually over the years. remaining.
Token Usecase
The $NETT token, in addition to being used for staking to ensure network safety, users can join the launchpad after staking.
Exchanges
There are only two centralized exchanges, MEXC and Hotbit, that allow direct purchases on the platform. The remaining users can only buy tokens through Netswap.
Project information channel
- Twitter: https://netswap.io/#/home
- Telegram: https://t.me/netswap_officialEN
- Medium:
Summary
The competition between Layer2 is expected to be very hot in the near future. Will a project considered to be the first place to receive cash flow like Netswap attract the interest of investors? Please join Hak to update the latest news.
