AshSwap is a decentralized AMM following the stable-swap model built on the Elrond Blockchain. AshSwap uses the same formulas invented by Curve Finance but introduces some new concepts to improve user experience, increase capital efficiency, and create a more robust token model.
Terms:
- ASH: the governance token of AshSwap
- veASH: vote-escrow ASH, a concept of Curve. AshSwap does not have any voting mechanism at the beginning, but we keep the naming convention for the sake of consistency.
Introduction
Stablecoins and the problem:
As much as people like to use volatile assets like Bitcoin as a means of exchange, stablecoins still seem like a better choice for daily transactions. Stablecoins now act as a hedge against volatility, a safe shelter for traders, or an entry for new crypto users. There are many types of stablecoins:
- Fiat-backed: USDC, USDT
- Crypto-backed: DAI
- Algorithmic: UST, FRAX
Different stablecoins provide different use cases in DeFi, which contributes to the prosperity of DeFi as a whole. Sounds great, but there's a problem, what if we want to trade those assets? Prominent AMM DEXs like Uniswap V2, Sushiswap, Bancor, or Balancer all use a method called Constant Function Market Makers (CFMM), or a modified version of it. This works great for normal assets but does not work as well for swapping between stablecoins (or assets that have similar prices like WETH/sWETH), because it results in a high slippage. It is unacceptable for people to swap 1 USDC only to get 0.9 USDT.
To maintain a small enough slippage requires an enormous amount of liquidity (token/money) in the pool, which is not optimal as most of the liquidity is left untouched, and the fees shared between liquidity providers are not so great.
Solution:
First introduced by curve.fi, stable-swap AMM provides a much better way to trade between stablecoins, and stable-swap exchanges like Curve have become a must-have in every DeFi ecosystem. To learn more about the details, read the original paper.
Not only does stable-swap AMM provide stablecoins traders peace of mind with peace of mind, but it also unlocks a whole new set of use cases of which we will take advantage and bring DeFi to a new level.
On Elrond:
Why do we choose to build on Elrond?
- We have tested multiple layer 1 blockchains, and Elrond stands out to be one of the most scalable ones.
- A bigger reason is that Elrond's vision is to bring the next 1 billion normal users to blockchain and decentralized finance, and that resonates with us the most.
- Now that Elrond's ecosystem is slowly coming to light, we see the lack of a stable-swap DEX, so we figure why not build one.
Roadmap:
Q1 2022
- Litepaper Publishing
- All features on Testnet
- Swap
- Liquidity Provision
- Liquidity Staking (Mining)
- Governance Staking
Q2 2022
- Testnet yield contest - Battle of Yields version AshSwap
- Update UI UX of features on Testnet
Q3 2022
- New feature: Yield Boost
- AshSwap API
Q4 2022
- Private Sale
- AshSwap Battle of Yields - Round 2
- TGE (Token Generation Event)
- Maiar Launchpad - Public Sale
- Mainnet Launch
- More pool types
- AshDAO
2023
- Integration with other DeFi protocols
- AOC Minting
- Unstable token trading
2024
- NFT Gamification
- AOC Use Case Pushing
- Derivatives
# |
Details |
|---|---|
Max supply |
1,000,000,000 ASH |
Initial circulating supply |
143,333,333 ASH |
Maiar launchpad price |
$0.04 USD / ASH |
Other information |
CLICK HERE |
@elrondwiki.elrond