FunSwap is a brand-new upcoming liquidity and mining protocol. Its main concept is to reward liquidity providers, traders, holders, and referrals according to their participation on the platform.
For a better understanding of the FunSwap platform, see the jargon list provided below:
The FUNS token is the center part of the platform, enabling all participants to profit by providing liquidity for everyone trading on the platform. iFUNS, a governance token is given to everyone mortgaging their FUNS tokens in FunBar, a built-in comprehensive management platform for mortgage and governance. iFUNS can always be traded back for FUNS when needed.
What makes it innovative and unique is the fact that everyone engaging on FunSwap platform can earn FUNS token as rewards. Liquidity providers will be able to yield the FUNS tokens, while traders and referrals will also benefit from using the platform, earning small amounts of FUNS just by using the platform.
What makes FunSwap different from many other DeFi platforms:
- no FUNS tokens are premined, all distribution is done via smart-contracts according to the distribution model provided below. This prevents rug-pulls as seen in some projects and provides decentralized governance of the platform.
- you can earn extra FUNS by mortgaging your existing FUNS stack. This incentivizes holding on to the rewards instead of dumping them for short-term profit. Everyone mortgaging FUNS on FunSwap will get iFUNS
- the FUNS token distribution is deflationary in its essence, each round will release less FUNS tokens to participants, making early adopters more incentivized and rewarded.
- the team will use the fees collected from trading to buy back FUNS from the open market. A part of those FUNS tokens will be distributed to the participants and the rest will be burned. This will provide a constant buy pressure on exchanges and further reward the FUNS holders while constantly burning a part of the supply. For a more detailed explanation about the buybacks and fee distribution, please check our Whitepaper.
- the governance of the platform and the next steps in development will be subject to community votes.
- all contract documentation is public to ensure full transparency.
Initial trading pairs on FunSwap, that will be available at the launch and will yield rewards for providing liquidity are:
- FUNS-ETH
- ETH-USDT
- USDC-ETH
- DAI-ETH
- WBTC-ETH
- USDC-USDT
The incentive coefficient of FUNS-ETH is 2, the incentive coefficient of USDC-USDT is 0.5, and the incentive coefficient of the remaining trading pairs is 1.
More trading pairs will be added according to the community desires.
More details about token distribution and basic information about FunSwap are available in the White paper. The token contract address will be provided once internal testing is completed.
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