This article was first published on Stories by ælf on Medium
Introducing Sashimi, a Fair Version of Sushi, with No Team Shares, No Pre-mine and a Cross Chain Swap Ecosystem!
Following the release of AESwap, a decentralized trading platform and the first DeFi project on aelf network on August 28, aelf is launching SashimiSwap, its version of SushiSwap today!
What is SashimiSwap?
SashimiSwap is a new SushiSwap project developed by aelf. Like other types of swap products, it adopts the model of automatic market maker(AMM). However, SashimiSwap is not a fork of Sushiswap, thus the two do not share liquidity. Once launched, anyone can participate in staking and mining on SashimiSwap! As an “upgraded & simplified SUSHI”, SashimiSwap is very easy to get started with and offers a smooth mining experience and high yield.
SashimiSwap gives liquidity providers on UniSwap an opportunity to earn SASHIMI tokens. UniSwap’s liquidity providers can stake some of their LP tokens and start earning SASHIMI tokens at block height 10,833,000 (around 10:00 am on September 10, SGT). We use the same token allocation mechanism as Sushi, with a 10x bonus (end height 10,933,000) for the first 100,000 blocks, which means we’ll release 1,000 SASHIMI tokens in each of the first 100,000 blocks. After 100,000 blocks, each block will release 100 SASHIMI tokens.
And the most important part is…
In the early stage, the 10 liquidity pools that can participate in mining are: ETH-USDT, USDC-ETH, DAI-ETH, YFI-ETH, LEND-ETH, LINK-ETH, SNX-ETH, ELF-ETH, WBTC-ETH, SASHIMI-ETH.
Unlike SushiSwap, which distributes 10% of its funding each time to the founding team for development, future iterations, audits, etc. SashimiSwap did away with such “development funds”. SashimiSwap charges a 0.3% gas fee, of which 0.25% will be used to reward users for adding liquidity. After the aelf mainnet is launched, the remaining 0.05% will be sent to DAO contract, which will all be ...
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