Starswap’s Remarkable Debut,The Most Feature-rich Swap in Move Ecosystem
* By Starcoin community
In the past two years, the blockchain industry has changed significantly. The common TPS or extensibility issues are no longer the central issue, but at the same time, DeFi is rising suddenly. The DeFi industry is extremely hot, it has experienced rapid development and has developed many different DeFi tracks, such as Swap, Stablecoin, and cross-chain.
After several years of accumulation, Swap has become an indispensable application in the public chain ecology and DeFi ecology and is the core driving force for providing liquidity, the more well-known Swap are Uniswap, Sushi, etc.
Recently, a brand new Swap called Starswap has been tested on the test network and launched on the Starcoin main network. Starswap is the latest Swap application, as the most functional Swap in the Move ecosystem, including functions such as single-currency stake and LP stake. Let’s take a quick look at Starswap’s design and model.
For users, the first function they can use is the Swap in Starswap. Users can exchange their desired Tokens through the Swap function, behind which is the Router logic of the Starswap contract.
If users want to use Tokens to participate in liquidity mining, they need to choose appropriate Tokens and cast them into LP Tokens in a certain proportion. Then, through the AMM logic of the Starswap contract, the LP can generate liquidity, and users can obtain huge profits, and the profits come from the fee.
If you want to get higher profits, you can consider Yield Farming, and you can get additional rewards by staking Tokens. This is often referred to as a single-currency stake. The Starswap contract already supports Stake, and the additional reward is Starswap’s platform currency, Star.
The above is a simple introduction to the function of Swap. The base of Swap is Token and governance. Next, let’s take a look at Starswap’s Token and governance.
Since Starswap is the new application in Starcoin's mainnet, the currently supported tokens mainly include STC, FAI, and Star. Among them, STC is the native Token of the Starcoin, FAI is an algorithmic stable coin, and Star is the reward coin of Starswap.
The total amount of Star is 100,000,000. The figure below shows the overall distribution. Yield Farming reward is 60%, which is 60,000,000. In addition, the development team accounted for 10%.
Now you must have had an overall understanding of Starswap. Swap is the heart of DeFi, the support of liquidity, and the only way to start DeFi.
Starswap is a very important application in the Starcoin ecology and the Move ecology. If you are interested, you can try it. I believe there will be a good wealth effect, let us wait and see.