KLAY.exchange — a protocol that supports the immediate exchange of tokens by replacing the existing order structure with liquidity pools, created by liquidity providers.
Contents:
Description of the KLAY.exchange project
In KLAYswap, a complete instant swap protocol on the blockchain, traders can not only experience immediate transactions through liquidity pools, but also develop services by deciding the policy and direction of KLAYswap with the KSP governance token. It is an on-chain exchange service that allows anyone with a klaY or KCT-type token to become a liquidity provider and earn transaction fees.
A variety of people can participate in the KLAYswap ecosystem, including long-term investors who want to hold cryptocurrencies for a long time, investors who want to earn income through commission fees and miners who want to participate in the management of KLAYswap through KSP mining.
Some features:
| No central operating party | KLAYswap operates autonomously through various governance actors such as traders and liquidity providers rather than through a specific central party. |
| Transactions, not related to the custody of securities | Direct communication with smart contracts is done by connecting a wallet without creating an account or depositing funds to a specific address. |
| Full control over assets | The executive power and responsibility for the asset belongs solely to the user, without the need for any intervention or trust in the transaction process. |
All transactions are transparent and secure with no risk to counterparties as it is a secure asset exchange that takes place on the blockchain. AMM and liquidity pool based trading, built from various providers, make it quick and easy to participate in various financial opportunities on Klaytn DeFi.
Additional information
As new mining tokens are added to KLAYswap, the mining ration and amount will change. As previously stated, KSP can be used by any holder of KLAY/KST type tokens, which can create a new pool of liquidity by voting on governance issues.
Members of KLAYswap:
- Liquidity providers. You can provide liquidity by matching KLAY-KCT pairs with token contracts, created in the KLAYswap pool menu. You will receive a reward share of the fees from that respective pool as a contribution reward.
- Traders. The tokens, listed in the protocol, can be traded with KLAY or KCT within the respective pool. The transaction price runs on the number of pairs of the respective tokens.
The site has an introductory document, where you can study all features of the project. Also, the developers blog on the Medium platform. Articles, related to the development of the platform, are available there Twitter is a social networking site. The smart contract was not audited.
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