2020 was a good year for the DeFi sector as the interest of traders and users has increased across multiple platforms. As these platforms offered new liquidity options for traders and helped them earn more profits, there was a sudden influx of income, resulting in more DEXs opening up to capitalize on this opportunity.
One of the platforms that has shown promise, among others, was EMI Swap which managed to establish its ground in the competitive industry. One of the many ways EMI swaps achieved this was to collect liquidity from a major pool and reward its users in return.
Automated Market Maker, EMISwap
EMI swap is an open source and decentralized platform that has some similarities to Uniswap V2. Being an automated market maker, EmiSwap makes itself decentralized using ESW governance tokens and yield-enhancing NFT magic cards.
EmiSwap pays all trading fees to liquidity providers and token holders to encourage voting on the ecosystem. The platform also rewards active users with an NFT-based loyalty program and Ethereum gas fee refunds.
EmiSwap launched on March 31st and has since collected over $550,000 in total closing prices. To ensure safety and security, Hacken conducted a security test on EmiSwap, the report of which is available on the company’s website.
The platform is a part of the EMIDAO ecosystem, the world’s first autonomous DAO. EmiSWAP is affiliated with AMM DEX partners (Alpha Sigma Capital Investment Fund, DigiFinex, Bitmart, Emirex, and HollaEx Centralized Exchange, IDCM, MahaDAO, and Everest KYC Provider) who play an active role in the functioning of EmiSwap.
What does EMISwap offer?
EmiSWAP is a decentralized platform that combines the functionalities of Uniswap V2 and Mooniswap to form a customized platform. There are two pillars supporting EMISWAP functionalities:
ESW is a governance token that provides its holders with the ability to participate in voting for the development of the ecosystem. Token holders also receive a share of the distribution fee directly proportional to their token ownership.
NFT Magic Cards are unique digital collectibles used to reward liquidity providers. Each card has a special bonus that helps increase the user’s profit and allows them to participate in gamified activities.
ESW and NFT magic cards work together to create a unique DEX with these benefits.
Benefits of EMI Swap
These are some of the benefits of EMI swaps that attract users to be a part of the community.
Each component of the EmiDAO ecosystem, such as AMM EmiSwap, token distribution scheme and token sale, is designed with decentralization in mind. The local decentralized developer community will receive ESW tokens along with users to ensure a transparent and fair platform.
A fair distribution ratio has been established among all members with only 20% of the tokens reserved for EMI Swap’s decentralized developer community.
EmiSWAP is a community driven platform that advocates the mechanics of decentralized decision making. All the changes and decisions for the development of the ecosystem are made with the participation of the community using the voting process.
Only ESW token holders can vote on decisions such as changing proxy contracts, adding pairs, determining rewards, and more. All these decisions are made in a single voting cycle. In case of minor decisions, the quorum may be reduced, and the voting rules may be adjusted.
The way to the future!
EmiSWAP is a fully decentralized and open-source platform that allows participants to choose their own strategy to win the most NFT magic cards. EmiSwap has several plans for the future of the platform and its users, starting with the launch on Binance Smart Chain and Huobi Chain.
Later this year, the platform will unveil many more features such as voting, staking, NFT farming and EMIBridge, which will connect various blockchains.