1. Product Introduction
1.1 What is MySwap?
MySwap is a DeFi platform based on OKExChain, which integrates DEX, NFT, Dao, etc. It aims to promote the free convertibility of high-quality digital currency on OKExChain, provide liquidity for the transactions on OKExChain, provide one-stop liquidity service for more high-quality assets, and provide users with a more secure, reliable, diversified and cost-effective transaction experience.
1.2 Product Features
AMM
The decentralized trading platform based on AMM developed in OKExChain allows the exchange of any two tokens on OKExChain. In addition, we can further gain value-added income through liquidity mining.
Fair Mining Incentive
Users can obtain mining incentives for trading, providing liquidity and participating in ecological applications on MySwap. MST has 100% liquidity mining, and there is no private placement at all. We have not added any meaningless sales to the issuance of MST, and everything is based on fairness.
One-stop DeFi platform
MySwap will build a one-stop defi hub on OKExChain, integrating DEX, NFT and Dao, enabling MST through a series of ecological applications.
Vault Incentive Pool
Vault is a unique incentive pool in MySwap ecosystem. All of the MST produced by mining will automatically enter the vault and be locked for three months. 5% of the MST mine pool will enter the vault pool for stacking mining by the MST that locked in the vault.
Users can also choose to extract MST at any time less than 3 months. If you choose to withdraw in advance, you will be fined 50%. The penalty will be distributed by the MST in the vault once a week according to the proportion of MST locked in the vault.
When users locked in the vault, the MST obtained by mining and dividend can be extracted at any time.
Low Handling Charge
A 0.2% commission will be charged for transactions on MySwap, which will be used in full for repurchase execution.
Low Tansaction Cost and Fast Transaction
In the face of Ethereum’s high gas costs and congestion and other unfriendly experiences, low gas costs and more efficient transactions are the main reasons why we choose OKExChain. OKExChain is committed to becoming the best public chain in the world and the best choice for MySwap.
Multi Link Interworking
We will start the development of cross chain bridge in the second stage, introduce more high-quality encryption assets into the OKExChain ecosystem, MySwap will support more cross chain transactions, and the expansion of IFO will also expand the value of MST fund-raising token.
DAO
MySwap is formed by a group of enthusiasts who love blockchain technology and the concept of decentralization. They are full of confidence in the future of defi and decentralization. The goal is to create a community based on blockchain technology and Dao organization as the carrier and an organization with the idea of creating community common value. It is hoped that the management right of Xiang will be handed back to the community and the decentralized operation will be realized.
1.3 Product Function
MySwap takes trading as its core function, and follows the principle of trading everything and creating value by trading itself. Around the core of transaction, many practical functions will be continuously launched for users. On the premise of ensuring the safety of the account and property, reduce the operation steps, increase the income dimension, and lengthen the income cycle, so that the DAPP can easily obtain multiple income.
We will make efforts in the following areas:
✅ DEX: decentralized transaction based on AMM, which reduces the complexity of user operation
✅Farms：Mining can be carried out through transaction, pledge liquidity, participation in ecological application, etc
✅NFT：non-fungible Token，MySwap will build a unique NFT system
✅DAO：Development Fund for continuous R & D and expansion of MySwap community ecology
✅ Games: landing more DAPP with MST token as the core, and the profits generated by DAPP will be destroyed
🔲DAO：We will unremittingly pursue decentralization and autonomy. MST holders will be able to initiate motions on the system and vote on the motions. The relevant motions include block award, half cycle, new currency launch, transaction to liquidity weight adjustment, etc
🔲IFO：Other project parties in OKExChain can raise funds through the Ifo of MySwap, and users need to pay the LP token of MST / okb transaction pair to participate in the Ifo. After IFO, the okb behind the LP token will be delivered to the project party, and MST will be destroyed
🔲Candy：Users can pledge MST to candy to obtain tokens distributed by other projects
🔲Community Forum：The decentralized community forum is a gathering place for MySwap users. Users can use MST to reward high-quality content.
🔲Cross-chain bridge: we will start the development of cross chain bridge in the second phase to realize more tradable targets.
🔲Lending: decentralized lending based on OKExChain
🔲Financial derivatives: with the increasing trading volume and liquidity of MySwap, the platform will gradually enrich the structure of various products
2. MST Token
2.1 Token Distribution
MySwap token (MST) initially issued a total of 1 billion, 100% of which were not private placement, no pre excavation, and distributed through liquidity mining.
In order to cover as many users as possible, 6 million MSTS will be airdropped to test network users, and our airdrop plan will be implemented in multiple phases.
In order to give back to the early angel investors who support the development of MySwap, 50 million MST will be given back to the early angel investors. This part will be released according to the block through smart contract in 12 months after the main network goes online.
94.4% of MST will be mined in the way of liquidity pledge in the main network. We set the 7 days after the main network goes online as the genesis mining period. In this week, the MST production of each block is twice that after the genesis mining period, that is, for the former 201600 block, 80 MST will be produced in each block, and after 201600 block, 40 MST will be produced in each block. From the end of Genesis mining, the output will be reduced by 10% every 30 days.
10% of MST from mining output will automatically go into Dao fund account for sustainable R & D and ecological development.
2.2 Pools Allocation
MySwap total ore pool will maintain 94.4% of the total MST initially set, and each block will release 40 MSTS (80 MSTS in Genesis mining period). In the initial setting, trading pool, LP pool, NFT pool and game pool will allocate 30%, 40%, 30% and 10% of mining output respectively. Our community can increase or change the proportion of each mine pool through proposals and votes.
Transaction Rewards Pool
Liquidity Rewards Pool
