2020 was a good year for the DeFi sector, as various platforms saw increased interest from merchants and users. As these platforms offered new liquidity options for traders and helped them make more profits, there was a sudden flow of income, resulting in the opening of more DEX to capitalize on this opportunity.
One of the platforms that has shown promise, among others, was EmiSwap, which managed to establish itself in the competitive industry. One of the many ways EmiSwap accomplished this was through collecting liquidity from major groups and handing out prizes to its users in return.
EmiSwap, an automated market maker
EmiSwap is a decentralized and open source platform that has some similarities to Uniswap V2. Being an automated market maker, EmiSwap uses ESW governance tokens and NFT magic cards that boost performance to decentralize.
EmiSwap pays all trading fees to liquidity providers and token holders to incentivize voting in the ecosystem. The platform also rewards active users with NFT-based loyalty programs and Ethereum gas fee rebates.
EmiSwap debuted on March 31 and has raised over $ 550,000 in total locked value since then. To ensure safety and security, Hacken conducted a security test on EmiSwap, the report of which is available on the company’s website.
The platform is part of the EmiDAO ecosystem, the world’s first autonomous DAO. EmiSWAP AMM DEX allied with partners (Alpha Sigma Capital investment fund, DigiFinex centralized exchanges, Bitmart, Emirex and HollaEx, IDCM, MahaDAO and Everest KYC provider) who play an active role in the operation of EmiSwap.
What does EmiSWAP offer?
EmiSWAP is a decentralized platform that combines the functionalities of Uniswap V2 and Mooniswap to create an optimized platform. The two pillars that support the EmiSWAP functionalities are:
ESW is a governance token that gives its holders the ability to vote on ecosystem development. Token holders also receive a portion of distribution fees directly proportional to ownership of the token.
NFT Magic Cards are unique digital collectibles used to reward liquidity providers. Each card contains a special bonus that helps increase the user’s earnings and allows them to participate in gamified activities.
The ESW and NFT magic cards work together to create a unique DEX with these benefits.
These are some of the benefits of EmiSwap that attract users to be part of the community.
Each component of the EmiDAO ecosystem, such as AMM EmiSwap, the token distribution scheme and the token sale, is designed with decentralization in mind. The native community of decentralized developers will receive the ESW token together with the users to ensure a transparent and fair platform.
A fair distribution relationship is established among all members in which only 20% of the tokens are reserved for EmiSwap’s decentralized developer community.
EmiSWAP is a community-driven platform that advocates for decentralized decision-making mechanisms. All changes and decisions for the development of the ecosystem are made with the participation of the community through a voting procedure.
Only ESW token holders can vote on decisions like 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 voting rules can be adjusted.
The way to the future!
EmiSWAP is a completely decentralized and open source platform that allows participants to choose their strategy to win the most NFT Magic Cards. EmiSwap has several things planned for the future of the platform and its users, starting with the launch of Binance Smart Chain and Huobi Chain.
Later this year, the platform will introduce several more features, such as Voting, Staking, NFT Farming, and EmiBridge, connecting different blockchains.