Skaswap finance — a decentralized automated market making (AMM) exchange on the IoTeX mainnet. The native governance token, SKA, allows the community to manage product development fully.
Deciding how to get Ska up and running required considering many possible options and the corresponding outcomes. Ultimately, the team decided to launch the SKA governance token on the launchpad. Liquidity mining involves xToken/Block minting. SkaSwap was supposed to launch SKA with a meager margin (relative to xToken/Block).
On the other hand, the disadvantage of a fair launch with a large supply in an attempt to offset the rate of inflation is an unfair distribution. That's why SkaSwap Finance ends up launching SKA on the launchpad: a fair decision that serves as proof of product.
Other features of this DeFi:
| 1 | Users will be able to contribute Wrapped IOTX in exchange for a share of the SKA, allocated to the presale. |
| 2 | 80% of the IOTX, collected during the presale, will be pooled into 400,000 SKA tokens, while 20% will help to cover development costs. |
| 3 | SKA will be the governance token. The distribution of tokens follows a fixed supply, constant supply model with burning mechanisms. |
All tokens are distributed, according to the emission schedule. This means team funds and treasury funds are distributed at the same rate as LP farms. Part of the emissions is reserved for future strategic partnerships to help the SKA ecosystem to grow. If they are singled out, they will enter into line vesting for at least 12 months.