2020 was a good year for the DeFi sector as several platforms saw an increased interest from traders and users. As these platforms offered new liquidity options for traders and helped them earn more profit, there was a sudden flow of income, resulting in more DEXs opening up to capitalize on this opportunity.
One of the platforms that have shown promise, among others, was EmiSwap which managed to establish its ground in the competitive industry. One of many ways that EmiSwap achieved this was through gathering liquidity from leading pools and giving prizes to its users in return.
EmiSwap, an automated market maker
EmiSwap is an open-source and decentralized platform that has some similarities to Uniswap V2. Being an automated market maker, EmiSwap uses ESW governance tokens and yield-boosting NFT Magic Cards to make itself decentralized.
EmiSwap pays all trading fees to liquidity providers and token holders to incentivize voting on the ecosystem. The platform also rewards active users with NFT-based loyalty programs and Ethereum gas fee refunds.
EmiSwap debuted on March 31 and has collected over $550,000 in total locked value since then. To assure safety and security, Hacken did a security test on EmiSwap, whose report is available on the company’s website.
The platform is a part of the EmiDAO ecosystem, the world’s first autonomous DAO. EmiSWAP AMM DEX allied with partners (Alpha Sigma Capital investment fund, DigiFinex, Bitmart, Emirex, and HollaEx centralized exchanges, IDCM, MahaDAO, and Everest KYC provider) that plays an active role in the workings of EmiSwap.
What does EmiSWAP offer?
EmiSWAP is a decentralized platform that combines Uniswap V2 and Mooniswap’s functionalities to create an optimized platform. The two pillars that support EmiSWAP functionalities are:
- ESW
ESW is a governance token that provides its holders the ability to participate in the voting of the ecosystem’s development. The token holders also receive a share of distributing fees directly proportional to their token ownership.
- NFT Magic Cards
NFT Magic Cards are unique digital collectibles used to reward liquidity providers. Every card contains a special bonus that helps to increase the user’s profit and allow them to participate in gamified activities.
ESW and NFT Magic Cards work together to create a unique DEX with these benefits.
Benefits of EmiSwap
These are a few benefits of EmiSwap that attract users to become a part of the community.
Decentralization
Every component of the EmiDAO ecosystem, such as AMM EmiSwap, token distribution scheme, and token sale, is designed keeping decentralization in mind. The native decentralized developer community will receive the ESW token alongside users to ensure a transparent and fair platform.
A fair ratio of distribution is established between all the members in which only 20% of the tokens are reserved for the decentralized developer community of EmiSwap.
Decision Making
EmiSWAP is a community-driven platform that advocates decentralized decision-making mechanics. All the changes and decisions for the development of the ecosystem are made with the participation of the community using a voting procedure.
Only ESW token holders can vote on decisions such as changing proxy contracts, adding pairs, setting rewards, etc. All of these decisions are made in a single voting cycle. In case of minor decisions, the quorum can be reduced, and the voting rules may be adjusted.
The road to the future!
EmiSWAP is an entirely decentralized and open-source platform that allows the participants to choose their strategy for winning most NFT Magic Cards. EmiSwap has several things planned for the future of the platform and its users, starting with the launch on Binance Smart Chain and Huobi Chain.
Later this year, the platform will unveil several more features such as Voting, Staking, NFT Farming, and EmiBridge, which will connect different blockchains.
