MocktailSwap Technology and the Processes
Introduction
Having exclusive offerings on a crypto project distinguishes each platform from the other. The cryptocurrency market and blockchain industry are constantly expanding, with new and innovative projects emerging recurrently. Each of these projects has dedicated objectives and goals they intend to achieve. During the development of these platforms, the founding members and management team focus on these objectives and develop their technologies and operations around the actualization of the set goals and vision of the project. These technologies and processes depend on the type of crypto and blockchain application each project decides to venture into and create added benefits for the public. Projects that hinge their services around payment solutions adopt technologies that differ from another that intends to offer decentralized finance applications. Some technologies will help improve the flow of funds within the network, between the users and the platform; others may deliver an improved level of transparency or security.
For the MocktailSwap Project, which is a payment network, their technologies and processes base on offering advanced support and access to their tokens. They intend to offer processes that avail their users and investors varied options on the utility of MocktailSwap's digital asset. As a payment solutions platform powered by the BSC Blockchain Network, the processes will base on how clients can acquire the MocktailSwap tokens. It will also provide a vivid description of how the platform issues its assets to investors and how clients can exchange their tokens for other crypto-assets and fiat currencies. In like manner, the utility of MocktailSwap tokens for governance purposes is also part of the network’s processes.
Issuance and Acquirement of MocktailSwap
This is the first process available to users in the acquisition of the MocktailSwap token on the network. The sequence followed to acquire the assets is basic and will be at the convenience of the user, as the platform adopts a user-friendly approach to deliver its services. Clients and investors can obtain their MocktailSwap coins and mint them at any period on the platform after they deposit collateral, using fiat currencies, against the coins. The issuance and acquisition of MocktailSwap occur directly on the platform and users do not need to interact or consult any third party or intermediary. After the deposition of the collateral, the management team of the network will access it against the recent market price and confirm the equivalent amount of such deposit in MocktailSwap tokens, then send the coins directly to the BEP20 supported wallet of the client. MocktailSwap platform pools the collateral and stores it in their liquidity pool.
MocktailSwap Exchange Tokens
The team of this project separates the value of their primary digital asset from the basic value established in the liquidity pool. When this occurs, it generates a likely scenario where the potential liquidity constraint, which is capable of creating faults and loopholes in the system, may result in the folding of the network. This tendency of the occurrence of this collapse depends on the value discrepancy between the tokens in circulation and the ones stored in the liquidity pool. If the value of tokens in the liquidity pool is less than the coins circulating in the market and among users, then there is the possibility of a collapse.
This is a challenge, which the team is wary of and would not risk its occurrence, hence, they created a solution to resolve it, and this is through a token duplicate. Resolving this issue will occur through the issuing of this mirror swappable token (MOK) to a smart contract on the network, whenever a client receives the MOK token. Then, when users decide to redeem their collateral from the platform, they will go through a two-stage process. First, they will exchange their MOK tokens for the MOK mirror coins, and then swap the MOK for their desired fiat currency.
To adopt transparency and gain the trust of clients and investors, the platform will implement a long-term exchange rate of 1:1, that is, for every exchanged MOK token, users will receive one MOK coins. The determination of the value of the MOK will base on the addition of all other currencies and assets, both fiat and digital, in the liquidity pool, which is denominated in US Dollars, then divided by the entire number of outstanding tokens.
Adhering to these value differences and exchange rates will enable the MocktailSwap network to ensure that their platform stays completely away from being in a dearth of liquidity, even in a scenario where all investors choose to redeem all their assets at the same time. While preventing running out of liquidity, MocktailSwap will also ensure the free anticipation on the next value of the liquidity pool when swapping the main coins.
MocktailSwap Governance Tokens
The use of these tokens helps members of the community to participate and contribute to the decisions on the platform. MocktailSwap network will be issuing some tokens to its development team as a reward for their efforts in developing the platform. They will also issue the tokens to founding members of the network. All community members, supporters, and volunteers on the platform will receive governance token rewards for their engagements and activeness in various campaigns and activities on the platform. The management team will also receive from the limited coins available. All these tokens will be freely accessible and available to all users, it will grant them rights to participate in voting exercises, and community members can contribute to governance decisions in the pool announced on their official webpage.
The voting exercise on this network occurs by transferring the governance tokens to an official compatible Bep-20 wallet address, created by the platform. One address represents ‘YES’ and the other ‘NO’, and the one with the highest number of tokens after the voting exercise is the winner. There is no pre-set maximum number of tokens allowed for each member; hence, users with a huge amount of coins in their wallet possess higher voting and decision authority to influence the outcome of the voting process on the platform.
USEFUL LINKS
Website: https://www.mocktail.finance/
Whitepaper: https://docs.mocktailswap.finance/
Telegram: https://t.me/MocktailSwap
Twitter: https://twitter.com/MocktailSwap
Facebook: https://www.facebook.com/MocktailSwap
LinkedIn: https://www.linkedin.com/company/mocktailswap
Instagram: https://www.instagram.com/mocktailswap/
Discord: https://discord.gg/cntAVTJbGy
Github: https://github.com/MocktailSwap
Reddit: https://www.reddit.com/u/MocktailSwap
AUTHOR'S DETAILS
Bitcointalk Username: Whipcloth
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768216
Proof of Authentication: https://bitcointalk.org/index.php?topic=5327223.msg56956721#msg56956721
Binance Smart Chain Wallet Address: 0x7AEc70455aC136D09E315A1D2e5ddaE83D8Cd0Cb