SharkSwap On SX Network

Published on: 06.05.2022
SharkSwap

SharkSwap was started with the vision of creating a community-owned decentralized exchange which owns its own liquidity and governs itself via prediction market.

Rather than having a centralized core team or apathetic token voters make decisions on liquidity mining campaigns, bonding discounts, and other key strategic initiatives; SharkSwap is wholly unique in letting prediction markets decide its direction. By hooking into the SX prediction market protocol, SharkSwap can become the world’s first intelligent DeFi platform.

This is a one-of-a-kind DeFi platform that you will not see anywhere else. SharkSwap is as adaptable as a founder-led DeFi platform like Uniswap, but as decentralized as a community-based one like SushiSwap. SharkSwap is both evolutionary and distributed. Welcome to a new era in DeFi.

SharkSwap Features:

  • Swapping: Fish Market
  • Farming: Feeding Frenzy
  • Dual Farms: Extra Chum
  • Protocol Owned Liquidity: School of Fish 

Swapping: Fish Market

Trade tokens and feed our sharks some tasty fees!

The fish market is a traditional AMM swapping page based on Uniswap V2. There is a 0.40% trading fee paid on every swap, which is directed in the following ways:

  • 0.20% – Paid to liquidity providers in the form of a trading fee.
  • 0.20% – Used to buyback SHARK and retire it.

The fee and the above ratio can be changed at any time through prediction market governance.

Farms: Feeding Frenzy

Join the feeding frenzy to get a chunk of those tasty rewards! 

SharkSwap comes equipped on day one with incentivized pools via SHARK rewards to LPs to drive TVL, liquidity, and trading volumes. Users can sort by APR, TVL, and volume to help them decide where they want to farm. There will be many incentivized pools, with higher rewards going to pairs with high trading volumes. The launch pools will be announced in the coming weeks!

Dual Farms: Extra Chum

Chum up the waters and whip our sharks into an even bigger frenzy!

Extra Chum allows SharkSwap partners to “chum up the water” for the sharks and incentivize pools with their own native token alongside SHARK incentives. These pools will have dual rewards and get co-promotional marketing from both teams (partner project and SharkSwap). Governance can decide how best to allocate SHARK to the Extra Chum dual farms. We’ll be announcing partners on a rolling basis, including the launch Chum partners soon!

Protocol Owned Liquidity: School of Fish

Buy SHARK at a discount with LP tokens!

Inspired by the innovative team Olympus DAO, SharkSwap will be the first AMM to own a portion of its own liquidity. Through partnerships and “Shark Bonds”, the SharkSwap protocol will acquire and hold LP tokens in its treasury. This will make Shark Swap sustainable long term as it aims to become the dominate AMM on SX Chain. This protocol-owned liquidity gives SharkSwap a strong balance sheet of project tokens, providing a floor price on SHARK, and increasing the sustainability of the ecosystem.

SHARK Token

There will be a Max Supply of 100,000,000 SHARK, with the following distribution:

  • 73.00% to the Shark Treasury for community rewards
  • 5.00% to the SX Community Fund
  • 10.00% airdrop to SX liquidity providers upon launch
  • 10.00% into a Protocol Owned SHARK<>SX LP upon launch
  • 2.00% into a Protocol Owned SHARK<>USDC LP upon launch

 

SHARK Initial Liquidity

Upon launch there will be an initial 12,000,000 of SHARK tokens seeded as initial liquidity by the SX Network treasury.

  • 10,000,000 SHARK will be seeded in an SHARK-SX pool in collaboration with the SX Network treasury at a $0.25 price ($5,000,000 in TVL).
  • 2,000,000 SHARK will be seeded in an SHARK-USDC pool by the SX Network treasury at a $0.25 price ($1,000,000 in TVL).

In total, there will be 22,000,000 SHARK tokens in circulation at launch, with 12,000,000 tokens permanently locked into SharkSwap protocol-owned liquidity pools. With 55% of total starting circulating supply locked in permanent liquidity pools and 45% to long-term SX LPs, we expect SHARK to be highly liquid relative to its circulating token supply upon launch.

About SharkSwap

SharkSwap is the premier platform for trading tokens on SX Network. SharkSwap was started with the vision of creating a community-owned decentralized exchange which owns liquidity on SharkSwap and governs itself via prediction market. Rather than having a centralized core team or apathetic token voters make decisions on liquidity mining campaigns, bonding discounts, and other key strategic initiatives; SharkSwap is wholly unique in letting prediction markets decide its direction. By hooking into the SX prediction market protocol, SharkSwap can become the world’s first intelligent DeFi platform.

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About SX Network

SX Network will be the first public blockchain to combine a smart contract platform with an on-chain community treasury and a native prediction market protocol. SX Network is a stand-alone smart contract blockchain built with Polygon Edge. It is designed from the ground up for blockchain application developers with EVM-compatibility, low-cost transactions, and a PoS-based consensus model.

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Source
https://sharkswap.substack.com/p/introducing-sharkswap-?s=w

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