Voltswap First Major DEX In The Meter ecosystem
Meter is a high performance infrastructure that allows smart contracts to scale and travel seamlessly through heterogeneous blockchain networks. It uses HotStuff based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly-decentralized, high-performance side chain for Ethereum and other public chains.
Meter Introduce Voltswap
VoltSwap is the first major DEX in the Meter ecosystem. It is a completely community-driven project to showcase the capabilities of the Meter blockchain. The swap has several key features that are specifically designed for retail traders and investors.
Voltswap Key Features
💥 Lightning-fast and low gas cost transactions— DEXes built on Meter is also front running resistant. The network charges a minimum gas price. Transactions that meet the gas price requirement are ordered based on the time the network receives them instead of the gas prices. With more than 110 validator nodes on Meter, Meter is the most decentralized and fastest Ethereum layer 2 side chain. VoltSwap is both censorship and front running resistant yet fully transparent as the original Ethereum.
💥 Maximize liquidity mining without the risk of losing funds— VoltSwap creates an ERC721 NFT contract-based smart wallet for each user. Only the user has access to the wallet. The user could subscribe to as many liquidity mining programs as he wants and the tokens never have to leave the wallet. This smart wallet design will become the standard for liquidity mining on the Meter network.
💥 Crosschain arbitrages and onboarding exchange DeFi chains with no KYC restrictions— VoltSwap provides the swap capability for swapping assets from different chains to facilitate cross chain arbitrage and onboarding various exchange chains without KYC restrictions. For example, VoltSwap will have trading pairs between USDT from Ethereum and BUSD from BSC.
Voltswap Token Function
The $VOLT token is the governance token for VoltSwap. Its main function will be governance and staking. It will be mainly distributed as liquidity mining rewards to incentivize liquidity providers in VoltSwap.
VoltSwap will be community-governed. VOLT token holders will have ownership of VoltSwap’s governance process. Token holders will be able to submit and vote on proposals for new listing, changing parameters of the liquidity mining programs, how to use the community treasury and make many more key decisions.
There is a 0.3% fee for every transaction on VoltSwap. Users who provide liquidity to trading pairs on the platform are eligible to receive a percentage of trading fees in proportion to their liquidity pool stake. (0.25% are rewarded to LPs, 0.04% to single-asset VoltSwap stakers, and 0.01% to the VoltSwap Community treasury).
$VOLT Token DistributionÂ
- 100M VOLT tokens the total
- 90% of the tokens will be mined over the next four years
- 1% of the tokens is reserved for marketing activities
- 5% is allocated to initial and future airdrops to expand the community and build awareness
- 4% of the tokens are reserved for the community treasury and the community will decide how to use it.
Staking and Liquidity Mining
Staking and Liquidity mining in VoltSwap is designed to encourage long term behavior. There are only Stake and UnStake operations for the liquidity mining program. There is no separate reward harvest function for staking. The user will have to unstake a portion or the entire stake if he wants to receive the rewards.
The rewards take 10 weeks to fully vest starting from 10% vesting immediately. If a user unstake before the end of the 10 weeks, only the vested portion of the rewards can be withdrawn. The unvested rewards will go back to the pool as rewards for other staking participants. A user who has staked for more than 10 weeks will earn 10x rewards compared to someone who stake and unstake in the same day.
ABOUT VOLTSWAP
VoltSwap is the first major DEX in the Meter ecosystem. It is a completely community-driven project to showcase the capabilities of the Meter blockchain. The swap has several key features that are specifically designed for retail traders and investors.
ABOUT Meter.io
Meter is DeFi infrastructure with a built-in, crypto-native, metastable currency, MTR. It uses HotStuff based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly-decentralized, high-performance side chain for Ethereum and other public chains.
RESOURCES
Voltswap Doc
