Hey guys, welcome back to Zilliqa Zebra. In this video, find out all about ZilSwap and learn how to use it.
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Zilswap is a fully on-chain, decentralized exchange running on Zilliqa. Zilswap allows ZIL and related token holders to supply to the liquidity pools.
Launched in October 2020, Zilswap is developed by Switcheo and is very similar to Uniswap as it uses an automated market maker and a liquidity protocol.
To use Zilswap, go to the platform page at https://zilswap.io/swap.
You can connect to the platform either via ZilPay wallet or through a Private Key.
Next, you have to make sure you’re on the swap side and not on the pool section of the page if you plan to swap tokens.
You can then select the tokens you want to pay in and want to receive. You also have an option to select 25%, 50%, 75%, or 100% of the tokens you want.
You can also add liquidity to the pools and earn a fee for providing liquidity. Let’s say you select 25% of ZWAP tokens and then you have to put 1043 Zilliqa into the pool to add liquidity.
$ZWAP is the new ZRC-2 governance token for ZilSwap that empowers stakeholders to take part in decisions governing the protocol, enact improvements and drive further development of the platform in a fully decentralized and permissionless manner
The $ZWAP governance token will follow a liquidity mining program where traders and liquidity providers are rewarded with $ZWAP. The total supply of $ZWAP tokens is 1,000,000 $ZWAP.
Users who provide liquidity to the following 3 initial pools will be able to receive $ZWAP token rewards. More pools can be allocated rewards in the future through a governance vote.
I hope you've found this short explainer video useful. Bye now from Zilliqa Zebra!
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