PapayaSwap — a blockchain gaming swap, combining NFT and dual token system for rewards.
Contents:
Description of the PapayaSwap project
The existing DEXs have various problems. For example, slippage and intermittent losses due to a lack of liquidity, as well as a lack of innovation to encourage users to provide liquidity. Various approaches have been proposed to solve these problems. For example, Sushi and Pancake have presented various projects in an attempt to attract more LPs. On the other hand, Uniswap V3 has introduced various innovations such as “concentrated liquidity”. The developers prefer not to make any unproven changes to the AMM engine and rely on sufficient liquidity to mitigate the problem of slippage and volatile losses. At Papaya Swap, a possible solution was proposed, combining gamified farms, dual token system and NFT.
Papaya Swap will work with two tokens: PAPA and YAYA:
| PAPA | It is a hard cap, deflationary governance token. PAPA also helps to return profits from an exchange. |
| YAYA | This is the value token of the Papaya Island experience. Each player can farm YAYA tokens on their land, providing liquidity, and increase their level. They can burn YAYA on their own, sell YAYA for income or mortgage YAYA to get PAPA. YAYA can reduce inflation across the entire ecosystem by burning tokens constantly. |
The YAYA and PAPA dual token system enables sophisticated game design and creates two opportunities for value creation in the island's ecosystem and brings together the prosperity of the ecosystem.
These NFT collectibles can not only increase farm income and user share, but can also be sold directly to generate instant income. There are also plans to improve NFT-related images in the future.
What else should you know?
The site contains the WhitePaper document. With its help, you can familiarize yourself with the project in more detail. Also, some information is available on the main page of the site. From social networks, the community leads:
- twitter;
- blog;
- telegram.
Join to follow the news and communicate with other members. The smart contract has not been audited.