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TangoSwap - the First Publicly Doxxed DEX on SmartBCH

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Written by   312
5 days ago
Topics: SmartBCH, DEX, TangoSwap, Developers, Kth, ...

Wow, what a surprise!

Imagine two well-respected, long-standing Bitcoin Cash supporters deployed a DEX - and nobody knew about it before it actually launched!

This is exactly what happened today!

Ian Blas - a public member of Bitcoin Cash Argentina - and Fernando Pelliccioni - the lead developer of the Knuth Bitcoin Cash development team - have just deployed a fully-operational DEX (decentralized exchange) on SmartBCH. In fact, it is the first DEX with publicly known developers on SmartBCH.

Ian Blas publicly posted links to all of his social media accounts.
You can find links to Fernando's social media in the article I wrote after meeting him two months ago. (see link at the end of the article.)

And the developers are not just publicly known, they are also well-respected Bitcoin Cash supporters. That's why I am personally 100% convinced that TangoSwap is a legitimate DEX. Both, Ian and Fernando point out that they are in it for the long run. And they want to develop their DEX to serve the Bitcoin Cash community in the best way possible. And the first proof of that has already been delivered with the fair launch of the DEX and the choice of initial farms.

The launch

As I mentioned before, the DEX launched today without any premise, presale or pre-announcement.

The launch of TangoSwap was announced on November, 23rd 2021 at 7 AM UTC in several Bitcoin Cash related Telegram groups at the same time. And that was the exact time the DEX started emitting its native token Tango to liquidity providers.

This message announced the start of TangoSwap.

I had just woken up and when I read the message, I believed that it was just an announcement that Ian and Fernando plan to deploy a DEX at some point in the future - but no, half an hour later I realised that the DEX was in fact ready to go and already operating! And nobody had any idea about it beforehand! 🤯

Plays well with others: The initial liquidity farms

As you can see in the following screenshot, TangoSwap added all tokens of other DEXs as a farm with high APY to their set of initial farms. MIST (MistSwap), EBEN (BenSwap) and MILK (MuesliSwap) can all be farmed I. The liquidity pair with BCH.

A part of the initial farms.

Here is the most important information about TangoSwap

  • The code was forked from MistSwap

  • The developers are publicly doxxed (Ian Blas - Bitcoin Cash Argentina and Fernando Pelliccioni- Knuth Bitcoin Cash lead developer)

  • Native tokens:

    • Tango (reward token with constant emission)

      0x73BE9c8Edf5e951c9a0762EA2b1DE8c8F38B5e91

    • xTango (staked Tango, compounds part of trading fees when unstaked)

      0x98Ff640323C059d8C4CB846976973FEEB0E068aA

  • Fair launch: No premine, no presale

  • Initial Tango price: $0.25

  • 10x increased Tango emissions for 2 weeks

    • 100 Tango per block (every 6 seconds) for two weeks

    • 10 Tango per block afterwards

  • 10% of Tango emissions go to developers' wallet

  • 0.3% swap fees (0.25% for liquidity providers, 0.05% to XTango holders)

  • Burn mechanism will be added

  • 3 day timelock will be implemented soon

  • Audit will follow soon

As you can see, the launch was extremely fair. And assuming that you are reading this shortly after I publish the article, you are still learning about its launch very early.

Increased Tango emissions for two weeks

Just like in the first two weeks of MistSwap, TangoSwap starts without a presale and with increased emissions in the first two weeks for early adopters.

Unlike MistSwap, however, there is no pre-existing SLP token that can be bridged to the SEP20 Tango - which should give Tango some price development advantages when compared to MIST.

3 day time lock

For completeness, please note that MistSwap contains a migrator code - and therefore, I do assume that TangoSwap does, too. For that reason MistSwap implemented a 3 day timelock - which TangoSwap will implement, too. However, currently, this timelock has not been implemented yet.

On the other hand keep in mind that everyone knows who the developers of TangoSwap are - and that they would ruin their good reputations if they did anything shady. As I wrote before, they are in it for the long run.

My personal take

I am completely amazed by the surprise launch of TangoSwap - and I bought some Tango - even though I am a terrible dancer.

Comments

What are your thoughts on TangoSwap and the other DEXs on SmartBCH? Tell me in the comments!

TangoSwap links

DEX

Github

Telegram

Twitter

Instagram

Linktree

Helpful links

My article introducing Fernando (from two months ago)

Linktree Ian Blas

Getting started with SmartBCH guide

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Written by   312
5 days ago
Topics: SmartBCH, DEX, TangoSwap, Developers, Kth, ...
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Comments

Great review and I support the new DEX, although I am expecting to also implement ssl certificate on the website. Looks good still.

I feel that many misunderstand the term DOXX, which is a malicious act to expose the identity and private information of someone without the subject's approval. Doxx is a term used always as negative. Can't promote a project saying it is Doxxed.

*Edit, it seems the SSL was there, not sure what I saw yesterday but today it is all secure and cool.

$ 0.05
5 days ago

Oh, thank you for the clarification about the term "doxxed". I didn't know that it is usually (or only) used with a negative connotation (in the sense of "identities were made public against their will"). I believe that Ian and Fernando didn't know that, either. English is not their first language (and mine neither 😅🙈).

Yes, they had an issue with the SSL, but Fernando fixed it already before I wrote the article. That's why I didn't mention it, but actually, it would have been better if I did. It shows that the team is really working on their DEX - unlike one other DEX that seems a bit abandoned sometimes. 😅🙈

$ 0.05
4 days ago

It looks good. I'm not into those token but 0.3% charge seems fair. Hope this will help many.

$ 0.00
4 days ago

Im not aware of Mistswap 3day time lock 😅 i better check it

$ 0.05
5 days ago

That 3 day timelock doesn't apply to anything you do as a user. It is a delay that applies when the developer(s) change anything on the DEX - like readjusting the APYs of the farms, for instance.

It also applies when the migrator function is being called - which could theoretically be used to change the owner of all liquidity pool tokens of the DEX to an arbitrary address. That means a scammer could use it to steal all the crypto you put into liquidity on that DEX. However, due to the timelock, you have 3 days to rescue your crypto AFTER this function is being called. And in the case of MistSwap and TangoSwap I doubt that the developers will ever try to steal your crypto. However, this is an issue that people should be aware of - especially when new DEXs by completely anonymous developers launch.

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5 days ago