Netswap Litepaper

Introduction

Netswap is a decentralized exchange (DEX) which runs on Metis Andromeda (Layer2).

NETT Token Economics

Netswap has a native governance token called NETT that is fully community distributed and is capable of trading all tokens issued on Ethereum and Metis Andromeda.

Chart 1. NETT distribution. 99% of the tokens are given to liquidity miners and 1% to airdrop recipients.
  • Promotion Plan — The first 10% of Airdrop rewards, or 100,000 tokens, will be distributed to the early members who participate in our promotion plan.
  • Scoring Plan — The remaining 90% of Airdrop rewards, or 900,000 tokens, will be distributed to the early traders and liquidity providers through our scoring system within the first 30 days after the launch of Scoring Plan. 180,000 NETT tokens are allocated to Swap Scores, and 720,000 NETT tokens are allocated to Liquidity Provider Scores.
  • Metis Pools
  • NETT Pools

About Swap Fees

For every transaction made on Netswap, 0.3% transaction fee will be charged, in which 0.25% will be rewarded to LPs, and 0.05% will be collected by the platform.

NETT Governance

A big part of the value proposition of NETT’s governance is that it is highly community-driven. Because there are no insiders, such as investors, team members, or other such stakeholders, the development of Netswap remains entirely up to the wider community. Netswap governance will be live three months after launch and will enable several key actions, including but not limited to:

  • Modifications to the liquidity pools
  • Activating the swap mining program
  • Stake to participate in the launchpad
  • Proposals for more use cases

Product Release Plan

Dec 6, 2021

  • Netswap launch on Metis Andromeda.
  • Netswap Scoring Plan release.
  • Leverage swap(with WOWswap) release.
  • First airdrop campaign.(500K NETT token)
  • Stake function release.(Stake NETT to gain Metis token rewards)
  • Adding NETT liquidity pools.
  • Second airdrop campaign.(500K NETT token)
  • Farm(liquidity mining) function release.
  • Launchpad release.

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Netswap

Netswap

Netswap, the first native DEX built on Metis Andromeda Layer 2 network.