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Miniswap: a new hybrid incentive DeFi model is already here.

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Avatar for AntonDz
Written by   3
9 months ago

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Miniswap is represented by a Chinese-Russian team that is offering a new hybrid incentive DeFi model. Being a DEX, the platform promises not only DeFi gold-standard rewards for providing liquidity but also a transaction fee mining feature. It was proposed by FCoin in 2018. 

Miniswap developed the original idea of taking into consideration the Uniswap incentivization model (0.3% fee shared between liquidity providers and Uniswap itself) and represents the traders + liquidity providers incentivization based on the project’s governance token - MINI.

Types of Miniswap rewards        

  1. Traders 

The platform takes an ETH fee for every approved trade. Then it mints MINI tokens that are worth twice the value of the ETH fee. . 50% goes to Traders.

  1. Liquidity providers 

The platform takes an ETH fee for every approved trade. Then it mints MINI tokens that are worth twice the value of the ETH fee. 50% goes to Liquidity Providers.

  1. Holders 

The platform takes an ETH fee for every approved trade and using a deflationary model, swaps it for MINI in the liquidity pool. 50% of the MINI that’s received this way goes to holders (relative to their share), the other 50% is destroyed.

Miniswap has a limit on the number of MINI tokes that can be created per day (starting from 500k, reducing to 18k).

The team also shares all the documentation – roadmap, whitepaper.  However the fact that the MINI token can only be purchased (and traded) on Miniswap itself, this makes many holders doubt the success of the MINI tokenomics model. 

On October 30th, the price of MINI stood at 0.1 USD.

Additional features

  • Miniswap’s app for trading (Minidex) is still in beta mode.

  • You can see the team’s yield-farming attempt named YMI finance, where one can also get MINI. 

  • The platform has a classic, well-worn yield farming design.

  • There is a lack of information and social activity (only 72 users in Telegram). There is a lot of spam in Telegram. 

  • The platform is piled up with a pack of inactive pools from previous versions. 

But still, the exchange is alive and active. The question is whether the hybrid incentivization program influences it at all.

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9 months ago
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9 months ago

very interesting I'll take a closer look

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9 months ago