Hello, today I am happy to introduce MistSwap - a new decentralized exchange built for smartBCH. MistSwap provides greater incentives for token holdens by distributing a portion of all fees to people who stake MIST, as well as an overall improved fee structure which reduces impermanent loss from liquidity providers. We also have many farms, a staking system, and a SLP redemption system
We are providing 1-to-1 conversion of MIST SLP tokens to MIST SEP-20 tokens. And 1-5 conversion of DROP SLP tokens to to MIST SEP-20 tokens, using the MistyLake tool. https://lake.mistswap.fi/
MistSwap is forked from SushiSwap, with minimal changes to the smart contracts. Because of this, it is very secure and battle tested. Our interface is slightly modified from SushiSwap's, and it allows us to bring in additional SushiSwap functionality in the future easily.
MistSwap is launching with a total of 9 farms, with more to come soon. The additional farms will allow for promotion of BCH projects, as well as allowing people who provide tokens for these projects to become partial owners of MistSwap and receive continual rewards from all trading on MistSwap.
I would like to promote more projects in smartBCH by opening farms for them, allowing their liquidity providers to receive some of the newly created MIST. We expect to provide farms for many of the biggest tokens in BCH.
For the first 2 weeks, 1000 MIST will be distributed each block to all farms. After that, 100 MIST per block in perpetuity. 10% of all newly created MIST is sent to the dev address, which will allow for funding of future improvements to MistSwap and additional tooling.
Our reward/fee structure is this: there is a flat 0.3% fee on each trade. 0.25% of this is sent to the liquidity providers, and 0.05% is sent to people who have staked MIST. 0.3% fees are better suited for the higher volatility of tokens today, it allows for higher allocation of liquidity as the fees will make up for a larger portion of impermanent loss.
We are planning a suite of tools to help businesses launch tokens easier. Stay tuned.. 😄
MistSwap is fully open source, we have:
Contracts - https://github.com/mistswapdex/mistswap
And more. Please DYOR.
Please join our Discord: https://discord.gg/xFTnQEzu9T
Twitter (for announcements): https://twitter.com/mistswapdex