Deswap

About Deswap

Deswap powers the world’s first decentralized stablecoin (YAI) built on the Polygon network, backed by a basket of other stable coins and crypto assets with no centralized control.

DeSwap brings change to the interaction between lenders and borrowers so that people can exchange assets without seamlessly losing their funds in the form of higher gas fees.

On the Polygon chain, the Deswap Protocol is designed to enable a comprehensive algorithmic money market protocol. To begin, the Deswap Protocol(DAW) will allow users to mint YAI (YAI), a synthetic stablecoin pegged to the price of $1 USD, by using the yTokens from the underlying collateral already submitted to the protocol. Users may borrow up to 50% of the remaining collateral value in their yTokens to mint YAI.Stablecoins on the Deswap Protocol can be created synthetically and added as a proposal through Governance.

The protocol's default stablecoin will be YAI, which can be created using collateral previously committed in Deswap.The ability to use the collateral provided to the market not only to borrow other assets but also to mint synthetic stablecoins with over-collateralized positions that safeguard the foundation with very low gas fee and fastest block confirmations is what sets Deswap apart from other money market protocols.

We are also having rewards token newly added here. It's DWAP. DWAP is just an additional rewards token apart from DAW and YAI

TOKENOMICS

The 3% share of the total supply of 100,000,000 DAW which is 3,000,000 DAW at first is allocated to IDOs or Launch Pads.

The remaining supply will be reserved exclusively for the protocol and further operations, and 23% to team.

23% tokens were allocated to the Development Fund for the core team, subject to the following vesting:

> 80% locked once Token Sale distribution ended

> 60% locked after 4 months

> 40% locked after 8 months

> 20% locked after 10 months

> 0% locked after 14 months.

74,000,000 DAW being mined over 8 to 9 year period, starting after the IDO at a rate of 0.64 DAW per block (18,493 per day).

DAW is distributed based on liquidity mining, with borrowers receiving 30% of daily rewards, suppliers receiving 30% , and stable minters receiving 22%, 15% gets burned immediately and 3% get to ecosystem reserve fund.

FEATURES OF DESWAP PLATFORM AND DAW TOKEN

Constant Growth In Value DAW Token

Expanding the audience and releasing new products leads new users and increases trust, which leads to increased demand for a token.

Security

The Polygon chain(s) operators are themselves Stakers and Delegates in a Proof-of-Stake system in the Matic Network.

Highest Speed In DEFI

Our Network is capable of doing 80k transactions per second.