UBESWAP — A NEW BEGINNING
With the finalization of governance voting UIP-16, 3 new DAO administrators have been elected and a new era is set to begin. With an active team, Ubeswap is poised for a bounce and become the trading hub of the CELO ecosystem.
Currently, there are a few items to be delegated to the new team and the transition will be finalized with these transfers.
So far, the new team has fixed the governance pages, farm pages and is actively renewing rewards to make sure Ubeswap is running as usual. Fixing the loading speed and UI glitches are on top of the development teams to do list.
Make Ubeswap Great Again
Ubeswap is run by the community to serve its community. In this sense, the new team is working hard with the mission of:
- Making Ubeswap the trading hub of Celo: have all projects in the Celo ecosystem being tradeable on Ubeswap and keep an active trading incentive for all users
- Becoming the premier launchpad of Celo: having all new Celo projects launch on Ubeswap and be integrated with the Celo community
- Providing DeFi services for all: whether its farming, staking or vesting; many DeFi services will be offered on Ubeswap and projects will be able to make use of these services to better cater to their communities
In short, the team is ambitious to make Ubeswap great again and have already identified the key upgrades to come in the near future.
V3 Liquidity: Ubeswap V3 aims to provide a more efficient and customizable trading experience for users, thanks to several new features and upgrades powered by the Algebra concentrated liquidity protocol. This will be fast tracked in the upcoming weeks and launched.
Launchpad: New projects on the Celo ecosystem now has a platform where they can gather initial funding and integrate their launch with listing, farming, staking and vesting if they like. UBE stakers will be automatically whitelisted and receive priority, thus adding an important utility to holding UBE. Launchpad will be open for everyone to participate and gathering of funds can be on CELO, UBE, CUSD or USDC.
Centralized Exchange Listings: Once Ubeswap gains traction the next step for UBE is to be listed on a centralized exchange. This will help Ube token be traded globally and to be marketed to different communities. The team is aiming for 2 listing, the first being a well-known tier 2 exchange and the second is a tier 1 exchange. With the current connections of the team and the introduction to be made by Celo foundation, we are confident that UBE will be a widely known and traded token in a few months.
Cross Chain Swaps: Squidrouter has integrated the Ubeswap contracts into their cross-chain router and would love to add a cross-chain swap front-end into Ubeswap’s site, where all swaps on the Celo side are routed through Ubeswap as preference.
Rewarding Ube Ownership: Ube token is the principal asset in Ubeswap exchange and the exchange can only be as strong as the token. Therefore, it is a high priority that the Ube ownership is rewarded through staking, farming and launchpad. Reward redistribution will be assessed by the community and adding a reward multiplier for UBE farms will be discussed. This will also reward projects that will look to created liquidity pairs with UBE tokens as well.
The Need for a More Sustainable Token Economy
In order to accomplish previously mentioned points and be sustainable in the long run a more favorable token economy is needed. This token economy will protect its current holders while making it possible for marketing, listing and more rewards to be distributed. It will rejuvenate the platform and enable more partnerships and strategic steps to be taken in the future. Vesting will be spread over 3 years and circulating UBE will increase slightly over 3 years. A burn mechanism is also being engineered to reduce UBE supply with increasing exchange volume. A new UIP will be proposed for detailed discussion.
A Call for all Projects in the Celo Ecosystem
Ubeswap is the DEX of the whole CELO community and projects play a vital role for Ubeswap. As the new team, we are looking forward to meeting all founders and providing the projects the necessary DeFi services. Bringing in liquidity, creating new liquidity pairs and increasing overall traction on Ubeswap is our priority. Let’s work together on making Ubeswap the hub for the whole Celo community!
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