Futureswap update #1
It’s been a week since Futureswap has come out of stealth mode and launched on Ethereum Mainnet. For our first community update, we want to share some data and information about how Futureswap works.
Overall, we’re excited that the exchange has been running smoothy and has been gaining traction. LP’s are earning a healthy APY and traders are able to place leveraged trades at an accurately defined price. We’ve spent 8 months working on and testing this new release that has undergone audits by both OpenZeppelin and Trail of Bits.
First, the #’s:
- Over +40M in volume has been traded in the first week since launch
- Liquidity providers have added $25,000,000 to the ETH / USDC pool
- Traders have earned 130,000 FST for and LPs have earned 30,000 FST
Change log
For simplicity we removed the spread between opening and closing trades, it is now a standard trade fee. Along with this change, the effective fee has been reduced by ~0.1%.
All FSTv1 holders from our alpha launch have been airdropped an equal amount of FSTv2 tokens.
- Old FST address is 0xc06f8db8b8a23afde358aad26e07a87ed7478d9a
- New FST address is 0x0E192d382a36De7011F795Acc4391Cd302003606
Governance is now live on site. All FST holders can now vote on proposals for the network. In the near future, FST holders will be able to create their own proposals.
Our first governance proposal has been created and passed. This proposal updated FST incentives to be distributed at a faster cadence, 2.6x rate (for the next two weeks):
- The FST rewards distribution period changed from every 7 days to every 24 hours.
- Daily FST distribution has increased from 15k FST to 40k FST. (24k to traders, 16k to LPs and 2k for referrers)
If you have any questions please contact us in the feedback section of our Discord. See you next week with more updates.
