HunnySwap — an automated decentralized exchange (DEX) for creating a market (AMM) in the Avalanche ecosystem.
About the HunnySwap project
HunnySwap — a decentralized exchange (DEX) on the Avalanche network. By using Automated Market Maker (AMM) to empower DEX, AMM helps users to exchange cryptocurrencies directly without intermediaries. Simply put, AMMs are stand-alone trading mechanisms that facilitate the process, required to provide liquidity for trading pairs on centralized exchanges.
HunnySwap offers several features that support decentralized trading:
| 1. | You can only trade tokens on HunnySwap if there is sufficient liquidity for those token pairs. If no one has added liquidity to the tokens you want to trade, it will be difficult, expensive or impossible to do so. |
| 2. | Providing liquidity will earn you LP tokens, which will earn you rewards in the form of trading fees. This will encourage liquidity providers to provide liquidity to trading pairs and ensure that the exchange will always have liquidity. |
| 3. | HunnySwap allows users to trade without having to go through a centralized exchange. Everything you do on HunnySwap is routed directly through your own wallet. |
LaunchPad allows users and project owners to raise funding for their projects. When you make a token swap (trade) on HunnySwap, you pay a 0.3% trading fee, which is distributed as follows:
- 0,18% — returned to liquidity pools as a reward to liquidity providers;
- 0,05% — returned to the gXOXO staking pool as a reward;
- 0,05% — returned to the LOVE betting pool as a reward;
- 0,02% - sent to the treasury.
Before you can start trading, you will need a crypto wallet that can support Avalanche C-Chain. You can refer to the Creating a Wallet section to set up your wallet. You will also need some ARC-20 tokens to start trading.
Liquidity pools
When you add tokens to the liquidity pool, you receive Liquidity Provider (LP) tokens in return and earn a share of the fees by simply holding the LP tokens. For example, if you contributed XOXO and AVAX to the liquidity pool, you will receive XOXO-AVAX LP tokens. The amount of LP tokens you receive represents your portion of the XOXO-AVAX liquidity pool. You can also redeem your funds at any time by removing your liquidity.
Whenever someone trades on HunnySwap, the trader pays a fee of 0.3%, where 0.18% will be added back to the liquidity pool of the swap pair they traded.