Duneswap — an automated market maker/DEX, developed on the Oasis Emerald ParaTime Network blockchain. DUNE - a native platform token that can be obtained through farming/staking or exchange. $ROSE - the internal currency of the Oasis Network.
How can DeFi DuneSwap be used?
To exchange coins in DuneSwap, select the tokens you want to exchange. Select the amount you wish to exchange. Click "Confirm" and proceed to confirm the transaction. Select "Exchange" and proceed to confirm the transaction.
Pools are created by users and decentralized applications that want to profit from their use. To pool liquidity, the amounts, provided by the user, must be equally divided between the two coins: the primary token and the underlying token (usually, ROSE or stablecoin). If a user contributed $DUNE and $ROSE to the pool, they would receive DUNE-ROSE DLP tokens. These tokens represent a proportional share of the pooled assets, allowing the user to withdraw their funds at any time. Every time another user uses the pool to trade between $DUNE and $ROSE, a ~0.25% fee is charged per trade. ~0.2% of this trade comes back to the LP pool.
Other features of the DeFi project:
| 1 | Users can lock DUNE for a certain period to get higher rewards. By staking DUNE, the circulating supply of DUNE is simultaneously reduced. |
| 2 | The Locker is for public use and allows you to hold tokens under a contract for a specified time period and can only be unlocked by those who withdraw funds after this point in time. |
DUNE is generated, based on Oasis Emerald ParaTime blocks, being mined through the Distributor and/or Vaults. No tokens have been reserved for investors, the team or the pre-sale. The initial offer of 500,000 DUNE should be comparable to $10,000 ROSE.
More about defi app
The Oasis Emerald Paratime network is in a very early state and blocks are not produced in a consistent fashion, based on activity, so the front end will reflect the current average block time in seconds, i.e. 6. Keep in mind the block creation rate can be reasonably increased to support an attractive APY, and mechanisms like Dune Vault can also stifle circulating supply.