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Swap.Dance is an Ethereum dApp which allows anyone to swap ERC20 tokens and ETH with low slippage. Proof of Trade concept provides a new type of staking mechanism for LP providers. Smart contracts were deployed on Vyper v0.3.3 and are immutable and not upgradeable.

The protocol is divided into several parts that are interconnected using commands that redirect control flows.

1. DANCE token.

2. AMM for stable and dynamic market

3. The Proof of Trade Staking

4. The Super Pool

The AMM part has two types of pools - stable and dynamic. Users are free to choose the market type when they create a new liquidity pool. If the created pair has any of pre-approved tokens (list: WBTC, WETH, DAI, USDT, USDC.) in a bundle, that allows anyone to initialize Proof of Trade staking contract for this liquidity pool.

The Proof of Trade (PoT) provides a new mechanism of staking. Rather than a traditional staking, that is based on the timeline, the PoT protocol uses a count of trades that have been made on AMM to generate new DANCE tokens. That means that only pairs with high trading volume generate more reward tokens, unlike pairs with low trading activity. The entire reward is divided equally among all PoT stakers depending on staked LP amount. Additional benefit is that you don't need to lock up your LP for any time period, so you can unstake at any time.

The Super Pool collects a small percentage ONLY from profits of each liquidity pool. For the dynamic market it's 3.709% and 1.665% for stable pair. According to my calculations, for 1 million trades of the approved pairs, the DANCE contract will mint around 29963 DANCE tokens. Also, each $1,000,000 profit will generate $37,097 (dynamic) and $16,650 (stable) fees to the Super Pool. Users can use DANCE to claim a set of 10 different assurance tokens that are collected in the Super Pool in the distribution period.

The DANCE is the utility token of the Swap.Dance protocol which represents the right to access the services on the platform. The token supply depends directly on the trading volume and locked liquidity.

Things You Can Do With Swap.Dance AMM:

1. Token swaps.

2. LP staking.

3. Claim a set of 10 different assurance tokens that are collected in the Super Pool!

Give us feedback!

Website: https://swap.dance

Docs: https://docs.swap.dance/

Twitter: https://twitter.com/SwapDance

Reddit: https://www.reddit.com/r/DancerDD/

Discord: http://discord.gg/GSVZurABjd

Github: https://github.com/swapdance


Thank you!