OneSwap will be officially launched along with the public beta from September 7–10 (UTC). All qualified participants in the open beta will receive an airdrop of ONES token.
OneSwap is a fully decentralized transaction protocol on smart contract, with permission-free token listing and automated market making (AMM). Known as the “upgraded version of Uniswap”, OneSwap has comprehensively upgraded the user experience based on Uniswap’s AMM, offering a trading experience equivalent to that of a centralized exchange.
OneSwap adopts the AMM liquidity mining and transaction mining model. It has also introduced an on-chain order book so that users can initiate either Swap orders at the market price or limit orders which enable the buy and sell order at a target price.
OneSwap will charge the Taker a fixed percentage of transaction fees based on the transaction amount, while Maker does not need to pay; transaction fees are divided into two parts, 60% directly goes to the liquidity provider and 40% for repurchasing and burning ONES. In transaction mining, both liquidity providers and traders will receive OneSwap’s governance token ONES as an economic incentive.
Duration of public beta: 8:00 AM September 7 – 8:00 AM September 10, 2020 (UTC)
Rules for participation:
1. Participation method:
After the public beta starts, liquidity mining and transaction mining will kick off simultaneously. Only the trading pairs on the official whitelist are permitted in this public beta. Users can choose any trading pair on the whitelist to participate in either liquidity mining or transaction mining to receive ONES as a reward for mining.
2. Functions available in the public beta:
Transaction mining and liquidity mining
3. The whitelist of trading pairs:
4. Wallets supported:
OneSwap Wallet, MetaMask, Coinbase Wallet, ViaWallet and other wallets supporting WalleConnect.
5. Event rewards:
Mining rewards: During the public beta, 300,000 ONES will be offered by the official as a mining reward. Users participating in liquidity mining will share 150,000 ONES proportionally, and users participating in transaction mining will share the other 150,000 ONES proportionally.
Bug bounty: To further improve OneSwap, the team has prepared 200,000 ONES as the bug bounty. Reporting bugs, proposing constructive suggestions, or submitting evaluation reports on major errors will all be rewarded.
6. Settlement method:
Liquidity mining: The liquidity injection is calculated once an hour, and users share ONES as a reward proportionally in terms of effective liquidity value.
Transaction mining: The effective transaction amount (Taker order) in the valid trading pairs (trading pairs on the whitelist) of the previous day (within 24h) is settled once a day at 16:00 o’clock (UTC) , and users share ONES as a reward for everyday events according to the percentage of the effective transaction amount in all trading pairs of the event.
7. Reward distribution:
All rewards will be distributed after the public beta.
September 4, 2020