SWAPHUB DEFI SYSTEM, ADDING MORE BENEFITS TO DECENTRALIZED FINANCE

A good number of cryptocurrency trading platforms despite facilitating the adoption of crypto in the society are still quite similar to the traditional financial system in operations. Issues ranging from centralization,slowness of the network, high cost of transaction, lack of security and so many others have threatened the financial freedom sought by crypto users.

Fortunately,the SWAPHUB decentralized exchange was developed to address these issues.

WHAT IS SWAPHUB?

This is an innovative decentralized Dex developed off the Uniswap protocol. Its origin can be traced to the Uniswap protocol which is often referenced in DEFI projects basically due to its immense contribution to the development of DeFi ecosystem.

Swaphub is equipped with better technical and financial tools to create more platform usability for the entire cryptocurrency community as well as bring out more innovations required to enhance an amazing Dex experiene.

DESCRIBING THE WORKING MECHANISM OF SWAPHUB

The idea is to migrate all the liquidity tokens which are already registered on the swaphub contract within the first 5weeks of starting the protocol. In this stage,all Uniswap LP tokens are expected to be staked in swaphub and the exchange of each token pair must be done at Uniswap,them utilise those tokens to create the initial liquidity pool which will possess the standard of the Uniswap pools. The fees incurred in this process will then be allocated to the diverse hub token holders using the same mechanism.

After the liquidity pool migration is finalized, bases on the newly developed set of swaphub pools, the protocol will become functional and stakers are expected to continuously receive their rewards for providing liquidity without necessarily doing anything else.

USTILIZATION OF THE SWAPHUB PROTOCOL

This is quite simple even for users on Uniswap already. At the smart contract and protocol stage, the swaphub utilizes similar interface as Uniswap making it easy for users from Uniswap to conveniently integrate with swaphub,more so,those whose current protocol is compatible with Uniswap can integrate as well.

WHY IS SWAPHUB BETTER THAN OTHER SYSTEMS?

Lets consider a few reasons

Instead of a 10% reward for the swaphub team,they are rather allocated 5%. This move is to propey check the price impact of the developing team on the crypto market.

The initial mining reward period is for about 5 weeks (20000 blocks) and during this period,every block is allocated double of their original reward

Unlike other project's tokens,the hub token is not unlimited,but its issuance is rather restricted to 12,825,888 blocks for its first issue with the bonus period inclusive.Furthermore, over a period of one year,the total number of tokens issued by staking is 220 000 000.

The swaphub team understands the vitality of fund security in the network, this has led to a few modifications being made on the sushiswap contract. Sushi swap forms the basis if swaphub and have been given a quantstamp security review while the famous bluecastle in Japan has audited the SWAPHUB contract.

CONCLUSION

Aside from having the tools and perhaps more which is required to thrive as a decentralized exchange, the swaphub substrate is more user oriented as it creates an opportunity for new and existing liquidity providers in the ecosystem to make maximum benefits from their services by rewarding them with the hub tokens regardless of how active or not they are in providing liquidity.

USEFUL LINKS
Website: https://swaphub.finance/
Twitter: https://twitter.com/swaphubfinance
Telegram: https://t.me/swaphub
Medium: https://medium.com/@swaphub

AUTHOR’S DETAILS
Bitcointalk Username- Vunchan
Bitcointalk Profile link- https://bitcointalk.org/index.php?action=profile;u=2774784;sa=