KROMATIKA FINANCE $KROM
WHY KROMatika
? When doing swaps on Uniswap V3, the user pays what is called a swap fee that is: 0.05%, 0.3%, or 1%. When placing trades on KROMatika, the user does not pay a swap fee but pays a service fee instead.
? The swap fee depends on the amount being swapped, whereas the service fee is FIXED.
? The actual service fee is paid in ETH since this is the real cost of the processing services (gas fee), however, the users always pay with KROM tokens.
? KROM token allows for huge savings on the service fee, close to having ZERO service fees.
? Early KROM token holders would have HUGE savings on service fees because they would be buying the token cheap and pay the service fee (which is fixed ETH) when its token price has increased.
Hidden gem: Within the DAPP, the user can choose a lower target gas price for the automatic processing of their trades, even further lowering the service fee, sacrificing some processing speed for lower service fees.
ZERO SERVICE FEE
KROMatika will be deployed on Layer2 (Arbitrum and Optimism) because of the lower gas cost.
The service fee on Layer 2 would be around 0.00002 ETH, expressed in KROM tokens. That?s 1 dollar cent for a service fee.
It could not get any cheaper. Well, it can?. go into earning instead of paying service fees?. and that?s to be discussed later on.
Let me show you a little example
Kromatika solves the problem of paying big SWAP fees for bigger swap amounts when swapping on Uniswap... it does not reduce gas cost fees we all pay when interacting with the Ethereum network... Kromatika solution does not USE Uniswap swaps at all, it smartly uses the concentrated liquidity feature of Uniswapv3 to simulate a swap. Because of not using the swap feature of Uniswap, the Kromatika protocol does NOT charge swap fees and prevents PRICE Slippage. However, users still need to pay a fixed service fee on the Kromatika protocol (in KROM tokens) and this fee is used to compensate the bots later on for their closing of the limit orders. Kromatika uses Chainlink Keepers, a decentralized network of bots... that closes the limit orders at the right time... So in simple terms:
1. Users are placing limit orders on Kromatika.
2. Users add KROM tokens funds in Kromatika protocol to cover the fixed service fee. The service fee is calculated per limit order, so it scales up with more limit orders.
3. Chainlink keepers bots are processing users? limit orders. Bots are paying ETH gas fee, receiving KROM as an incentive, according to the ETH-KROM current market price + 20% more KROM as bot fee.
4. The KROM, the Keepers receives in 3) are deducted from the user's balance that they need to have funded in Kromatika previously in 2). If they didn't have enough KROM's all their limit order would not have been picked up by the bots in 3) because their Kromatika account was underfunded with KROMs at that time.
Let?s say we swap 10ETH on our APP
Outcome:620041KROM
https://imgur.com/dKWrExCSWAP 10ETH on Uniswap
Outcome:590664KROM
https://imgur.com/ngHygiWWANT TO CONTRIBUTE
? Join Discord
https://discord.gg/Uv2Q2v26JG.
? Join Telegram
https://t.me/kromatika_finance.
? Visit kromatika.finance.
kromatika.finance? Join the contribution channel on Discord and contribute to the development effort, marketing, support, etc. Kromatika is a Community driven project and everyone is welcome to contribute.
💠Kromatika Starter Pack:
🔹BETA dapp (Kovan)
https://app.kromatika.finance/🔹Twitter
https://twitter.com/KromatikaFi🔹GitHub
https://github.com/Kromatika-Finance🔹Medium
https://kromatika-finance.medium.com/🔹Whitepaper
https://link.medium.com/pzGhybBqhlb🔹CMC
https://coinmarketcap.com/currencies/kromatika/🔹FAQ
https://telegra.ph/FAQ-11-22-5🔹Reddit:
https://www.reddit.com/r/KromatikaFinance/
