Obyte, a decentralized DAG ledger system, is now launching the OSWAP governance token for its main Decentralized Exchange (DEX) Oswap.io. The new asset is designed to incentivize liquidity provision on this DEX by providing extra rewards and benefits to Liquidity Providers (LPs) and other users.
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Oswap.io DEX was launched in 2020 and has grown to be the main trading venue for multiple Obyte tokens. Now, with the OSWAP token available, users will be able to stake their holdings to get long-term rewards, deposit their LP tokens to receive a share of OSWAP emissions, participate in the governance of the system, or simply bet on the growth of Oswap DEX by investing in OSWAP token.
First DEX Token on a Bonding Curve
The OSWAP token will be issued on a bonding curve that allows its trading against GBYTEs (Obyte native token) and ensures always available liquidity.
Its price will depend on trading on the bonding curve and on the free market as usual. However, it will also be gradually increased at a rate that depends on the current Total Value Locked (TVL) of all Oswap.io pools. Greater TVL yields a faster appreciation rate, so it's designed to increase its price as more users arrive on the platform.
“OSWAP token is the first token issued on a bonding curve of this kind” said Tony Churyumoff, founder of Obyte, “and with a combination of ample initial liquidity provided by the bonding curve and strong locking incentives, we hope that it will help attract liquidity to Oswap pools and prove to be a valuable asset for its holders.”
There will be continuous emissions of new OSWAP tokens to ensure liquidity and incentives for participants. Half of the emissions will go to LPs in Oswap.io pools, and the other half will go to stakers who lock their OSWAP tokens for some time (between 14 days and 4 years) and participate in governance. Any governance participant will be able to vote on proposed updates to improve the platform.
OSWAP Token Initial Sale
OSWAP token will launch on April 6, 2023, at 04:34 UTC. Before this date, potential buyers can deposit their GBYTE to participate in the initial sale. To get GBYTEs, anyone can access several available markets, like Bittrex; or use the Counterstake Bridge to buy from Ethereum, Polygon, or BNB Chain with their native assets or stablecoins.
On the launch date, all GBYTEs collected from buyers will be sent to the bonding curve to buy OSWAP tokens. The price will be determined by the bonding curve and it depends on the number of GBYTEs raised in the initial sale. The initial price on the bonding curve is 1 GBYTE per 1 OSWAP token but it grows with the growing buying amount.
The initial sale website is at token.oswap.io, and after April 6, 2023, 04:34 UTC it will become the website for trading the OSWAP token, staking, governance, and farming LP tokens. Anyone can already preview some governance pages that will be available after the launch. The testnet version of the OSWAP token is available at testnet-token.oswap.io and it can be used to try all the functions that will be available on mainnet after the launch.
About Obyte
Obyte is a DAG (Directed Acyclic Graph) platform launched in 2016 as a distributed ledger without middlemen. Unlike centralized ledgers and blockchains, access to the Obyte ledger is decentralized, disintermediated, free (as in freedom), equal, and open.
The platform features Autonomous Agents, Self-Sovereign Identity, Payment Channels, Oracles, Privacy Features, Chatbots, DEX, and Internet-of-Things (IoT) functions.
Contact Info:
Name: Tony Churyumoff
Email: Send Email
Organization: Oswap
Address: Liechtenstein
Website: https://oswap.io
Release ID: 89090934
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