New Innovative DEX On Aurora Chain
AuroraSwap is a decentralized exchange (DEX) on the Aurora Chain. AuroraSwap’s design is based on the Uniswap constant-product automated market maker (AMM). In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps. Each swap on AuroraSwap incurs a fee, which gets distributed to liquidity providers as their payment for work.
AuroraSwap Products
- Swap — AuroraSwap provides users a simple way to swap tokens on Aurora via automated liquidity pools. In a swap, one token is sold to buy another token.
- Liquidity — AuroraSwap offers users a simple way to provide liquidity for tokens on Aurora via automated liquidity pools (LPs).
- Farm — AuroraSwap itself is simply a blockchain protocol which, by design, does not offer any resources for utilization As such, in order to provide users easy access to $BRL and for the protocol to perform its core function as a DEX, users would need to be incentivized to play the role of liquidity providers and stake their digital asset pairs (e.g. ETH/$BRL) into the decentralized market making pools to provide the necessary liquidity for transactions.
To become a liquidity provider on AuroraSwap, a user must deposit equal values of two tokens. In return, they receive BRL-LP tokens (AuroraSwap Liquidity Pool tokens). BRL-LP tokens represent a proportional share of the given LP and liquidity providers may claim their underlying tokens anytime. Liquidity providers receive a 0.25% fee for every swap that is made in their pair. The 0.25% fee is directly added back to the LP, increasing the value of BRL-LP tokens. Liquidity providers can also participate in yield farming with supported LPs.
TOKENOMICS
- TOKEN NAME: BRL
- Total Supply: 10,000,000
- NETWORK: Aurora Chain
DISTRIBUTION
- Farmers — 90% of the rewards per block
- Burn — 5% of the rewards per block
- Development — 5% of the rewards per block
AUROSWAP INTRODUCED AURORAPUNKS
AuroraPunks is a fun Punks themed NFT collection based on Larvalabs’ original made by the PolarisToken Team and aimed at tying the Aurora Chain ecosystem together. These NFT can be used as profile pictures, staking tokens and potentially future voting on Polaris’ growth and direction. There will be a total of 10,000 AuroraPunks available to mint and 50% of the mint profits will be used to buy back the $PLRS Token. Minting Price will be 0.02 ETH per AuroraPunk.
