Launched on September 18, 2020, Oneswap.net is a decentralized smart contract-based transaction protocol supporting permission-free token listing and automated market-making. OneSwap supports both traditional order books and AMM, balancing market and limit orders between hybrid AMM and on-chain order book models.
Oneswap Exchange is a fully decentralized Smart Contract-based trading protocol, which introduces limit orders on the basis of DEX’s permission-less token listing and automated market making, and improves user experiences via its own OneSwap Wallet. As a universal on-chain one-stop trading service platform, OneSwap can be deployed on any blockchain that supports smart contracts.
To Start Trading WithOneswap.netExchangeCryptocurrency Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The OneswapExchangeCryptocurrency Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your Oneswap.net.
Oneswap Exchange charges Taker 0.5% of transaction fees according to the transaction amount, while Maker does not need to pay that. The transaction fees generated in the Pair contract are divided into two parts:60% directly goes to the liquidity provider 40% is used to repurchase and burn ONES.
Automated Market Making
Automated market making (AMM) can calculate the buying and selling price according to the formula, so as to provide continuous quotation for the market. Essentially, AMM is automatic agent and can be realized through smart contracts without human intervention. OneSwap applies the “constant product market maker formula” algorithm in AMM, which characterized in the firm liquidity provision to the market no matter how large the order book is or how small the liquidity pool is.
Each capital pool of Oneswap.net is a smart contract that holds balances of two unique tokens and enforces rules around depositing and withdrawing them. This rule is the constant product formula. When a token is deposited (sold), a proportional amount must be withdrawn to maintain the constant. Contrariwise, if a token is withdrawn (purchased), a certain proportion of the amount must be deposited. When the capital pool is created, the token balance is 0, and the user who deposits first will determine the initial price of the pool. The earlier the user join the pool, the greater the weight. According to the weight, users can obtain proportional share of transaction fees.
OneSwap DAO Token Daily Performance
Today’s Oneswap Exchange DAO Token price is $1.2673, which is up <1% over the last 24 hours. The DAO Token’s market cap is $15.03M. 24 hour ONES volume is $3,998. It has a market cap rank of 561 with a circulating supply of 11,858,277 and max supply of 99,934,617. The DAO Token is traded on 4 exchanges, with the top exchanges being Hoo.com ($4,001), Newdex ($0), and DragonEx ($0). OneSwap DAO Token had an all-time high of $10.85 3 months ago. Over the last day, OneSwap DAO Token has had 0% transparent volume and has been trading on 7 active markets with its highest volume trading pairs being USDT ($4,001), EOS ($0), and ETH ($0).
OneSwap Incentives and Governance
To facilitate on-chain governance, Oneswap.net deployed on Ethereum will issue an ERC20 governance token called ONES which enables ownership transfer and a blacklist mechanism. Its total amount is constant at 100 million. Among them, 50% is used as a community fund to support OneSwap ecological construction, and the rest 50% is owned by the OneSwap team. Community funds will be applied for on-chain governance.
The transaction fees generated from swap and transaction on OneSwap are divided into two parts: 60% that directly goes to the liquidity provider, and 40% to repurchase and burn ONES. ONES is a deflationary token in that it is repurchased and burned automatically by the token repurchase contract.
To make itself more accessible, OneSwap has its own wallet. Through OneSwap Wallet, users can quickly access OneSwap without relying on any third-party tools. OneSwap Wallet is a perfectly decentralized wallet. It will neither store your mnemonic phrase, private key nor control your assets， which is aims to provide you with the most simple and easy-to-use service while ensuring security.
What Should I Know before Using OneSwap Wallet?
What is Mnemonic Phrase? Why do I need it? The mnemonic phrase consists of 12 random words used to restore your assets. It will be the only way to access your assets once lost your wallet ID or password.
How to backup Mnemonic Phrase？
1) After logging in to OneSwap Wallet, go to “Wallet Settings” – “Wallet Back up” – “Mnemonic Phrase Back up” to check it. 2) Click “Download mnemonic phrase template” and print it, then click [Next]. Write down the Mnemonic Phrase in the correct order to ensure that a valid copy. 3) Double-check if the Mnemonic Phrase is correct.
Is OneSwap decentralized?
Oneswap.net makes every effort to become a decentralized and trusted platform. There are no admin controls or shutdowns built into the code of its smart contract, and all modifications and optimization will be decided by the voting results from community governance.
Why Choose Oneswap.net
Permission-free token listing
OneSwap supports trading between tokens that meet the ERC20 standard. No listing fee nor permission needed for creating a market.
Automated market making
Oneswap Exchange applies automated market making algorithm, and provides continuous quotation for the market. Users join the capital pool in exchange for aproportional share of transaction fees.
Limit order supported
In addition to the convenient conversion service, the traditional order book is also available on OneSwap, enabling more flexibility to the trading.
Excellent user experience
Based on users’ trading habits, OneSwap develops a feature-rich and easy-to-use operation interface.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.