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Not to be confused by its name, Multiswap is not just another decentralized exchange - it is a set of DeFi protocols merged into one self-sustainable infrastructure.
As you might be well aware, DeFi is currently on the rise, however it is still in its infancy form. Many of the protocols out there do just one thing or another, therefore the entire ecosystem is unnecessarily complex and risky, because users have to move their assets between addresses and platforms often, grant access to their wallets to within multiple applications, as well as to learn using different user interfaces. Multiswap aims to create a simple, all in one solution that not only connects all the best features of DeFi, but to also improve them.
Multiswap is an entire technological stack of DeFi solutions, built as a fully decentralized and autonomous infrastructure, managed by smart contracts, on top of which additional applications can be built.
What are the features?
Amongst the other standard DEX features (such as swaps, collateral lending, OTC trading, adaptive fees etc.), some of the main features would be:
- Multipools - users of Multiswap protocol, when providing liquidity to a swap pool, may choose to assign same assets to lending pool as well, or otherwise – Multipool, without losing capability to modify any of lending options. Multipool’s purpose is to maximize returns for liquidity providers, since liquidity is the backbone of decentralized finance.
- Token vote - token voting pools are separate from liquidity pools and are used to determine token's position on the list for ALL users of Multiswap protocol. Vote pool's size is determined by the total amount of MSWAP in the pool. For example, if there are 1000 MSWAP locked in ETH vote pool and 700 MSWAP in BAT vote pool, users will see ETH as first on the list, BAT will be next on the list and so on. Vote pools receive 5% of all fees collected by all other pools of the currency they are voting for, which is then distributed to voters accordingly to their share in said pool.
- Crosschain interoperability - With the help of Multichain API, users and developers will be able to use not only ERC-20 tokens, but virtually any coin from any blockchain on Multiswap platform. At the time of writing there already is support for Bitcoin, Bitcoin Cash and ZCash blockchains and more are going to be integrated in the future.
What is Multiswap token?
Multiswap token (MSWAP) contract (https://etherscan.io/token/0x929c60295b8ac2e5cbbe8160fa7027c610111146) was deployed on Ethereum block #11295203. MSWAP has a fixed supply cap of 150 million (150,000,000) tokens. Multiswap conducted a presale in 2020, during which a total of 30% of the supply was sold to investors. Multiswap team has a reserve fund which is 50% of the total supply and is used to provide initial liquidity on exchanges, while another 10% (not yet minted) is allocated internally to the team. Another 10% (not yet minted) of the MSWAP supply is specifically intended for activities such as partnerships and development.
Shortly after a full protocol launch any tokens of the 50% (initially used to provide liquidity) that will not yet be in general public's will be burned.
What is the utility of Multiswap token?
- Protocol’s Governance voting is weighted by MSWAP for decisions related to protocol parameters and upgrades of the smart contract. It can be compared to MakerDAO’s governance where stakeholders vote on current and future parameters of the protocol.
- Vote pools’ governance, where one’s governance is weighted based on their share in the pool.
- Vote pool’s size of a certain currency determines said currencies position on the list for ALL users of Multiswap app.
- Vote pools receive 5% of fees and interest collected from lending and swap pools for the currency they vote for.
Learn more. Useful links.
Multiswap website: https://mswap.org
Whitepaper: https://mswap.org/media/Whitepaper.pdf
Discord: https://discord.gg/Vh6qBc6GFw
MSWAP is currently listed on Uniswap V2 platform (https://app.uniswap.org/#/swap?outputCurrency=0x929c60295b8ac2e5cbbe8160fa7027c610111146)
