Deswap powers the world’s first decentralised stablecoin(YAI) built on polygon network, DAW, which is backed by a basket of stablecoins and crypto assets with no centralised control .They are aiming to change the interaction between the lenders and borrowers so that people can exchange assets without seamlessly loosing their funds in the form of higher gas fee. On the Polygon chain, the Deswap Protocol is designed to enable a comprehensive algorithmic money market protocol.
To begin, the Deswap Protocol(DAW) will allow users to mint YAI (YAI), a synthetic stablecoin pegged to the price of $1 USD, by using the yTokens from the underlying collateral already submitted to the protocol. Users may borrow up to 50% of the remaining collateral value in their yTokens to mint YAI.Stablecoins on the Deswap Protocol can be created synthetically and added as a proposal through Governance.
The protocol’s default stablecoin will be YAI, which can be created using collateral previously committed in Deswap. The ability to use the collateral provided to the market not only to borrow other assets but also to mint synthetic stablecoins with over-collateralized positions that safeguard the foundation with very low gas fee and fastest block confirmations is what sets Deswap apart from other money market protocols.
The live Deswap price today is $0.497788 USD with a 24-hour trading volume of $5,802.19 USD. They update DAW to USD price in real-time. Deswap has no change in the last 24 hours. The current CoinMarketCap ranking is #4514, with a live market cap of not available. The circulating supply is not available and a max. supply of 100,000,000 DAW coins.
The 3% share of the total supply of 100,000,000 DAW which is 3,000,000 DAW at first is allocated to IDOs or Launch Pads. The remaining supply will be reserved exclusively for the protocol and further operations, and 23% to team and resulting in 74,000,000 DAW being mined over 8 to 9 year period, starting after the IDO at a rate of 0.64 DAW per block (18,493 per day).
DAW is distributed based on liquidity mining, with borrowers receiving 30 percent of daily rewards, suppliers receiving 30 percent, and stable minters receiving 22 percent , 15% gets burned immediately and 3% get to ecosystem reserve fund. 23 % tokens were allocated to the Development Fund for the core team, subject to the following vesting:
* 80% locked once Token Sale distribution ended * 60% locked after 4 months * 40% locked after 8 months * 20% locked after 10 months * 0% locked after 14 months.
Deswap’s Governance token
Deswap Coin governance token is DAW and its core has been developed to facilitate both team and communal control. To establish a proposal, a proposer will need 500,000 DAW, and the proposal must be accepted by a quorum of at least 1,000,000 DAW.
Synthetic Stable Coin
To begin, the Deswap Protocol(DAW) will allow users to mint YAI (YAI), a synthetic stablecoin pegged to the price of $1 USD, by using the yTokens from the underlying collateral already submitted to the protocol. Users may borrow up to 50% of the remaining collateral value in their yTokens to mint YAI.Stablecoins on the Deswap Protocol can be created synthetically and added as a proposal through Governance. The protocol’s default stablecoin will be YAI, which can be created using collateral previously committed in Deswap..
Worlds First Money Markets Liquidity protocol built on Polygon Chain
Deswap is the first ever Decentralised Marketplace to lend loans, collect interest, and mint synthetic stablecoins built on polygon chain.
Features of Deswap platform and DAW Token
Constant growth in value DAW Token
Expanding the audience and releasing new products leads new users and increases trust, which leads to increased demand for a token.
Deswap Coin The Polygon chain(s) operators are themselves Stakers and Delegates in a Proof-of-Stake system in the Matic Network.
Borrow the Crypto on DEMAND which has access to instant liquidity.
Lowest Gas fee
Deswap has the lowest gas fee among other Lending major players in the market.
Scalability is achieved through the use of a decentralised Plasma operator method that achieves finality on a polygon chain.
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