StormSwapStormSwap is a new AMM protocol, with some completely new features introduced and with the goal of migrating important DeFi protocols to Binance SmartChain and accelerate the migration from legacy Ethereum 1.0 to one the ultimate blockchain designed for supporting the future of finance. Ethereum 2.0 is not the answer. Binance SmartChain is.
InspirationWe’ve been following the amazing work CZ and his team has been doing developing their own EVM-based blockchain. Binance is one of the most important crypto companies in the world, and they are starting a revolutionary movement of migrating their CeFi structure to DeFi. That’s huge.
Some of our team members also follow Thorchain closely, which we believe is a great protocol. However, it has big problems related to their LP mechanism and using Binance’s new SmartChain is a huge advantage for StormSwap. StormSwap can use solidity smart contracts and bring well tested, designed and popular protocols to an already powerful blockchain.
ProtocolStormSwap is a new AMM protocol, with some completely new features introduced and with the goal of migrating important DeFi protocols to Binance SmartChain and accelerate the migration from legacy Ethereum 1.0 to one the ultimate blockchain designed for supporting the future of finance. Ethereum 2.0 is not the answer. Binance SmartChain is.
Liquidity PoolsLiquidity providers earn STORM tokens as an incentive for providing liquidity on multiple pools that contains fantastic tokens, where most of them are inaccessible in the legacy chain. As an early bonus, for the first 14 days of liquidity mining (starts on 09/29 10:00 AM UTC), LP holders will earn a 100x bonus on STORM tokens.
Initial pools available:StormSwap related:
STORM/BNB (2.5x rewards)
BFX/STORM (learn more about BFX below) (3x rewards)
Oracles:
BAND/BNB (1x)
LINK/BNB (1x)
Stablecoins:
BUSD/BNB (1x)
BUSD/USDT (1x)
Other Popular Projects:
ADA/BNB (1x)
EOS/BNB (1x)
BCH/BNB (1x)
LTC/BNB (1x)
XRP/BNB (1x)
ATOM/BNB (1x)
YFII/BNB (1x)
STORM TokenSTORM is a BEP20 token (BEP20 is similar to ERC20 from the legacy chain). It functions as a governance token for StormSwap’s protocol, giving users rights to votes in the governance portal we are building. 0.0021 STORMs are generated per block by the ThunderCloud contract, with an early bonus incentive of 100x (0.21 STORMs per block). There will be 100,000 STORMs generated during the 14 days incentivised liquidity mining period, being 14,3% dedicated for the developers’ fund (more on that below). After the bonus period, around 2,000 STORMs will be minted every month, with the possibility of changing emissions rate through governance.
ThunderCloudThunderCloud is based on SushiSwap’s MasterChef contract, with some additional changes. We added some suggestions from Peckshield to enhance it’s security, and added the following features:
Possibility to change STORM’s emission per block.
Referral fees systemReferral Fees
Every StormSwap user can generate their own unique, address-based referral link. When you refer a friend to use StormSwap’s protocol and he stake his LP tokens to earn STORM tokens, the person that created the link earns 5% upon each harvest and his friend earns another 5% bonus. We created this mechanism inspired on Binance’s referral system, which we believe is very important to accelerate DeFi adoption and a missing component on most AMM’s today.
The BifrostUsers can stake their STORM tokens in The Bifrost. It’s still not audited, but we invite security companies to audit Bifrost and other modified StormSwap contracts, we will be using the developers fund for that. The Bifrost is basically a staking contract, however, it opens regularly in a pre-determined period (with the possibility of changing using governance). When the Bifrost is open, users can lock and unlock their STORM tokens, earning 1/6 of the fees from StormSwap’s AMM and future other protocols we are developing connected to StormSwap and Bifrost. The Bifrost remains opened for 24h, and when it’s closed, users can’t lock or unlock their STORM tokens until Bifrost opens again. We determined that Bifrost will start with a period gap of 4 days, in other words, every 4 days the Bifrost opens for 24h allowing users to stake and unstable their STORM tokens to earn fees. After 24h, it closed and the only way of swapping BFX (Bifrost’s tokens) back to STORM is using the incentivised BFX/STORM liquidity pool. We created this mechanism to reward STORM holders that believe in the future of the protocol and at the same time allow them to earn extra rewards staking their BFX and STORM LP tokens.
StormBreakerThe StormBreaker collects 1/6 of fees from StormSwap and charges the Bifrost. BFX holders earn those fees, increasing BFX’s value in STORM.
StormSwap contracts
We forked Uniswap, since we believe that it’s the best working protocol on the legacy blockchain and the contracts are proven to be extremely secure and have the best incentives for both liquidity providers and swap users.
TeamStormSwap has a team of anonymous developers and business managers, we have plans of hiring community devs and revealing part of our team.
Next stepsSecurity Audit — we invite companies to audit StormSwap and will be choosing what community decides
Setup TimeLock Contract — we are working on it at the moment
Setup Governance Portal
StormLending Protocol — It’s on our roadmap to launch a Lending protocol connected to StormSwap and Bifrost soon
Community Partnerships — Airdrop STORMs rewards to users that creates content and apps using StormSwap’s contracts (contact us if you have any ideas)
Contract AddressesThunderCloud
https://bscscan.com/address/0x958bac0A229F756c5b4F923D1623fE77f547f1E9StormToken
https://bscscan.com/address/0xc0E7Ba97E9C802656C2B3eA8f27FAD6E60f0a795StormBreaker
https://bscscan.com/address/0xe5eFf57F06B426612d91Eb8cc3880Ef2449E1B2DBifrost
https://bscscan.com/address/0xF7abDD6CB716C4D311E1B6e7cEF2397e347873DDStormSwapFactory:
https://bscscan.com/address/0x720767Aea828a9730123679f3cE3DE01369b4575StormSwapRouter
https://bscscan.com/address/0x788B8EcE56F2C0eD41f31D7cd172276addCD7F99Follow StormSwapGithub:
https://github.com/stormswapSite:
https://stormswap.io/Site app:
https://app.stormswap.io/#/homeMedium:
https://medium.com/@stormswap/stormswap-bringing-defi-infrastructure-to-binance-smartchain-cd9040c1b5d3Twitter:
https://twitter.com/storm_swap
