Announcement on further reduced reward of yield farming and future development plans
Dear OneSwap users,
Since OneSwap was officially launched, a large number of users have participated in the yield farming and order mining. The total liquidity has exceeded 100 million US dollars at the highest, which is a great achievement for a new project. But under the prosperity, we have also seen a great crisis. According to datas, most of users involved in mining are constantly selling the ONES token. This has caused the price of ONES in the secondary market to bear a huge pressure, which is obviously unsustainable. The secondary market price is critical to the development of OneSwap. For the long-term sustainable development of OneSwap and to maintain investors’ confidence, after discussing with the community, it was decided to further reduce the mining reward and the number of whitelist trading pairs, with the effective from 00:00, 26 September, 2020 (UTC). Details are as follows:
Total daily mining reward: 5,000 ONES
Whitelist trading pairs and reward distribution:
In order to better safeguard interests of ONES investors and better realize the decentralization of OneSwap, we are developing and testing a proposal voting system, which will be officially launched soon. For changes in mining output and trading pairs in the future, we will first initiate community proposals and implement them after the ONES community agrees.
Traders are most important to OneSwap. OneSwap officially launched the referral system today. By inviting friends to trade on OneSwap through your referral link, you can get ONES worth 40% of the actual transaction fee as reward.
Project is equally important to OneSwap! We are discussing an incentive plan for the project side, including reward project parties who launches their projects first worldwide on OneSwap with ONES, as well as the referral benefit. We are discussing and improving the plan and it will be officially announced once confirmed.
We are constantly optimizing and upgrading the product, and the ultimate product experience has always been our pursuit. We are about to launch locked transfer, one-click token issuing and other functions. Locked transfers can specify the arrival time when transferring ERC20 tokens, and recipients can claim the tokens only after the locked time. The one-click token issuing function can help users issue and manage ERC20 tokens more simply and quickly.
We have begun the testing, deployment and compatibility of the Tron network. OneSwap will soon support the Tron network and the transaction of TRC20 tokens. Tron is a faster and cheaper smart contract network that will provide users a better trading experience.
At the same time, we are actively communicating with potential strategic investors and more exchanges. Recognitions from influential institutions and exchanges also greatly promotes the development of OneSwap.
Support of users and investors of ONES are also of great importance to OneSwap. We believe that DeFi is a wave that will change the world, and we are proud to be part of it.
26 September, 2020