What once started as an idea to be a Stableswap DEX has now transformed into a DeFi hub. AshSwap now provides an array of DeFi features, including an AMM DEX, DEX Aggregator, Liquidity Pools, ve-Tokenomics, and Perpetual DEX, providing users with a unified platform to swap, trade, and earn their crypto on the MultiversX blockchain.
Over the past +2 years, our vision for AshSwap has matured, responding to market dynamics, community feedback, and a refined mission to enrich the DeFi landscape. As we embark on introducing AshPerp, the pioneering perpetual DEX on MultiversX, we are not just launching a new module, we are reimagining our protocol and broadening our horizons.
Therefore, our team decided that the only way forward was to revamp the user interface, creating a cohesive platform that seamlessly integrates AshSwap and AshPerp, setting the stage for future innovations. This journey inspired us to also introduce a new logo that symbolizes the harmonious integration of our two core products and visually embodies a new stage of AshSwap.
And now, we are excited to invite you to join us in AshSwap Rebranding, commencing on March 27th, 2024.
A Fresh New Look
Our rebranding goes beyond aesthetics; it signifies our evolved vision and capabilities. AshSwap now stands as a One-stop DeFi hub, offering the best swap rates across MultiversX, opportunities to earn in DeFi, decentralized governance, on-chain perpetual trading, and more features to come, all within an intuitive interface.
We will be launching the light-mode version first, followed by the dark-mode version in the coming months.
AshSwap DEX
Initially a Stableswap DEX on MultiversX, we have evolved significantly since the Mainnet launch on February 2023. Originally focused on facilitating stablecoin swaps with minimal slippage, we now include Auto-concentrated Liquidity Pools in AshSwap v2, expanding its offerings to include a broader range of tokens. This upgrade has improved trading efficiency, benefiting traders, liquidity providers (LPs), and token projects with enhanced volume capabilities and reduced slippage. So far, AshSwap DEX has seen a trading volume of $152.14M.
We still support Legacy Swap on the old AshSwap UI after the rebranding.
DEX Aggregator
AshSwap Aggregator is revolutionizing how MultiversX users trade, ensuring users get the best rates across major DEXs without needing a direct pool on AshSwap. Through Dynamic Trade Routing, we find the most optimal paths for your trades, swiftly and efficiently. Our latest upgrade includes seamless EGLD wrapping/unwrapping, enhancing your trading experience. With $170M in volume and growing, AshSwap Aggregator is your gateway to optimal DEX trading.
Liquidity Pools and Yield Farming
AshSwap’s liquidity pools, powered by the Auto-concentrated pool design, significantly enhance capital efficiency for LPs. The Dynamic Peg mechanism automatically adjusts the pools in response to price fluctuations, ensuring liquidity is concentrated at the most relevant price points. This not only facilitates more effective price discovery but also minimizes impermanent loss for LPs. Currently, LPs receive 50% of the trading fees from their respective staking pools and can further leverage their LP tokens to earn additional yields in AshSwap Farms.
Liquidity pools set the foundations for LPs to take off their yield earnings with ASH Farms. All farms undergo scrutiny through AshDAO Proposal Voting to qualify for ASH reward distributions, which are allocated based on Farm Weight Voting in an epoch-based cycle. Notably, users can amplify their ASH rewards by up to 250% through strategic veASH holdings and Farm Weight Voting.
AshSwap Governance
AshSwap Governance lies at the heart of the protocol, where veASH holders are empowered in governing AshSwap metrics. By staking ASH, users receive veASH, with the ratio varying based on the staking duration — the maximum being a 1:1 ratio for a four-year locking period. veASH holders are now sharing 50% of AshSwap trading fees, plus 50% of AshPerp platform fees in USDT-USDC LP tokens. They also partake in AshDAO, influencing the allocation of ASH emissions through Farm Weight Voting and AshDAO Proposal Voting to get bribes, besides yield-boost power.
AshPerp — Perpetual DEX
AshPerp is poised to play a crucial role in enhancing our financial sustainability by generating more transaction fees. While our initial phase benefited from liquidity mining with the $ASH token, we recognize the need for a more diversified strategy moving forward.
Introduced as a new AshSwap module, AshPerp is the first oracle-based perpetual trading DEX on MultiversX blockchain that offers up to 100x leveraged trading on $EGLD, $BTC, $ETH, $SOL, and more. Thanks to the synthetic design, AshPerp allows perpetual futures trading on popular cryptocurrencies at a high level of leverage, without using the original tokens. All leverages are synthetic in the Perpeptual Vault, where traders’ profits and losses are handled by a single-staking Perpetual Vault. By staking in the Vault, LPs receive apUSDC, a yield-bearing token reflecting their earnings from borrowing fees and negative PnL paid by traders. apUSDC can be traded and yield-farmed on other DeFi protocols like AshSwap and JewelSwapX.
AshPerp is now one of the most capital-efficient perpetual DEXs in the market. The AshGuard NFTs and referral scheme combined afford traders up to 60% discount on trading fees. Additionally, staking AshGuard NFTs can significantly reduce the spread of BTC and ETH trades by up to 50%, offering traders a competitive advantage.
Our Story
The name ‘AshSwap’ is emblematic of our journey in the blockchain realm, akin to the lifecycle of a Phoenix. Beginning as a modest, self-funded initiative, our growth has been fueled by a dedicated team of skilled developers and industry professionals in the MultiversX builder community.
From establishing a DEX that offers low-slippage trading in a variety of stablecoins, we have continuously evolved, expanding our asset support, forging strategic partnerships, and now emerging as one of the key players in the MultiversX DeFi ecosystem. Just as Phoenix rises from humility to formidable strength, our mission in blockchain space is designed to enhance value for DeFi users, foster blockchain mass adoption, and break boundaries.
The idea of being relentlessly improved, not just in function but also on purpose, is at the core of our brand identity.
With all the most genuine eagerness, we are looking forward to welcoming you to this new chapter with us on March 27th, 2024!
