What is AshSwap? Elronds first stable-swap

• What is AshSwap?
• The problem of stablecoins
• Solution
• Benefits of joining AshSwap
• Transaction fee
• Liquidity reserve
• Social Mining
• Features of AshSwap
• Swap/Trade
• Add/Remove liquidity (Add/Remove liquidity)
• Liquidity Staking
• Yield Boost
• Development team
• Investors
• Roadmap
• Tokenomics
• summary

What is AshSwap?

AshSwap is a Stable-swap decentralized AMM built on the Elrond blockchain . AshSwap uses the same formulas invented by Curve Finance but introduces several new concepts to improve user experience, increase capital efficiency, and create a new, more powerful token model.

The problem of stablecoins

Prominent AMM DEXs like Uniswap V2 , Sushiswap , Bancor or Balancer all use a method known as Constant Function Market Makers (CFMM) or a modified version of it. This works well for normal assets but is not as efficient when swapping between stablecoins (or similarly priced assets like WETH/sWETH), as it leads to high slippage. It is not acceptable for people to exchange 1 USDC for only 0.9 USDT.

To maintain a sufficiently small slippage requires a large amount of liquidity in the pool, which is not optimal since most of the liquidity is not affected and the fees shared among the liquidity providers are not very large.

Solution 

First introduced by Curve.fi, Stable-swap AMM offers a much better way to trade between stablecoins and stable-swap exchanges like Curve have become a must in every DeFi ecosystem .

Stable-swap AMM not only provides stablecoin traders with peace of mind, but it also opens up a whole new range of use cases, leverages and takes DeFi to the next level.

Benefits of joining AshSwap

Transaction fee

AshSwap divides the fee collected into 2 parts. 50% will go to LP token holders where transactions have been made and the other half will go to veASH holders. This incentivizes users to staking the governance token to earn a share of the protocol's revenue.

Liquidity reserve

Liquidity Reserve (LLP) is a new concept that AshSwap introduces in which users do not have to give up their liquidity but instead exchange it. This also adds more use cases for the ASH token and increases revenue for both LPs and AshSwap. 

Introducing a new stablecoin

Stable-swap exchange LP tokens have a very unique feature that at the end of the day, the underlying value of the collateral does not change much. Taking advantage of this, AshSwap allows users to mint a new stablecoin called “AOC”, using their LP token as collateral. This means that users can provide liquidity to the DEX, receive the same amount of stablecoins and put them to work for profit in other protocols.

As such, who will be entitled to the transaction fees rewarded for the LP tokens? The answer is users, they will receive rewards in different ways.

Speculation LP

If the user is a hardworking farmer and wants to earn income for a long time, he should pay all 1% ASH fee. The fees will then be used to reward those who make ASH or burn to make ASH scarce.

On the other hand, if he only needs AOC for a short time and the 1% fee makes it insignificant, he can give some (or all) of the transaction fee to AshSwap during that time to reduce the fee. Transaction fees will be used to redeem ASH on AMM (like Maiar) and distribute to ASH creators or burn.

In both cases, ASH holders, speculators and AshSwap win.

Listing partner projects

In the future, more projects will be listed on Maiar Exchange compared to stablecoins like USDC. If there are 100 projects and each project has a liquidity pool of $1 million, then $50 million worth of stablecoins are put into 100 pools.

Instead of adding stablecoins directly to the pool, 50 million can be added to the AshSwap stablecoin pool. LP tokens are given to AshSwap for minting 50 million AOC (with or without ASH fee), which is then used as liquidity on Maiar Exchange. This benefits all parties:

• AshSwap pool liquidity is enhanced, traders can trade larger volumes with less slippage
• AshSwap gets some LP tokens, thus increasing its revenue
• veASH holders have more income
• Projects still have stablecoin tokens/pools while enjoying transaction fees and farming rewards of ASH. Project and AshSwap can also be combined to give them a better ratio than a regular LP.

Social Mining

Individual investors have many untapped powers (or rewards), such as enthusiasm and network effects. To incentivize this, AshSwap wants to integrate many products into its ecosystem that do not require users to spend a large amount of capital, but still bring decent rewards.

Features of AshSwap

Swap/Trade

Here users can swap or trade stablecoins with relatively cheap fees and low slippage.

Fees : Liquidity providers will earn fees from successful trades. 

Price Impact : The execution of a transaction changes the share of tokens in the pool, causing a change in the price per token.

Minimum Amount Received : The minimum amount you will receive after deducting fees and the maximum slippage achieved.

Slippage : You can change this in the settings to make sure you get the amount you want or your trade won't be reverted.

Add/Remove liquidity (Add/Remove liquidity)

By depositing funds into the pool, you are providing liquidity for the two currencies in that pool and you will be honored as a liquidity provider (LP). LPs on AshSwap can earn both transaction fees and benefit from unique farming mechanics, which will be revealed later.

Add Liquidity

Go to the Pool page to find the liquidity pool you want.

Enter the number of tokens. The project noticed user confusion when providing liquidity on other Stable-swap exchanges, that is, users have to manually enter both amounts, so at AshSwap you only need to fill in one amount. , the remaining amount will be automatically calculated. The rate will be equal to the current rate in the pool.

Withdraw Liquidity

Select the pool you want to withdraw the liquidity from and specify the withdrawal amount. Your reward will also be received.

Liquidity Staking

To start liquid staking, you first need LP tokens.

• Step 1: Connect Maiar . wallet
• Step 2: Start depositing

Select the group you want to staking your LP-Token

Check the APR ratio, total liquidity to find the most suitable pools.

Yield Boost

Yield Boosting is a new feature of AshSwap, this feature is still in beta. TraderH4 team will provide detailed and complete instructions on this feature when AshSwap completes Yield Boost testing.

Development team

AshSwap is created by a team of talented developers and professionals. After a period of working and developing in this field, they decided to step out and build a meaningful product. We all aspire to the bright future of blockchain, DeFi and want to be a part of this wave of innovation.

• Neil Nguyen – Founder & CEO: He is also the Head of Economics at Dafi Protocol and Serial Blockchain Founder.
• Hieu Phan – Founder & CTO at AshSwap: He often researches blockchain technology and explores different products in the DeFi ecosystem.
• And other prominent members.

Investors and Advisory Board

AshSwap has completed the funding round with a total raised of $2.5 million. With the participation of investment funds such as Elrond, Morningstar Ventures, Istari Vision, Skynet EGLD Capital, Spark Digital Capital...

Led by Elrond, they have brought to the project reputable investment funds in the blockchain technology industry with their rich experience and impressive portfolio. With the help of these funds, AshSwap will quickly transform from a young startup into a unicorn.

Roadmap

2022

• Launch Mainnet
• Token issuance
• Token Farming
• There will be more versions of Pools
• ASH DAO

2023

• Integrate with DeFi protocols like Liquid Staking or optimize profits
• AOC Stablecoins
• Unstable token trading

2024

• AOC . use case development
• Launch of derivatives trading

Tokenomics

Not much is known about the project's token yet. 

LKASH will represent ASH and can be used to provide liquidity on Maiar Exchange or staking in certain programs on AshSwap.

LKASH can be exchanged to ASH at 1:1 ratio after 3 months calculated from TGE.

summary

AshSwap is the first decentralized exchange built on the Elrond blockchain that allows users to trade between stable assets with large volume and small slippage. As Elrond grows to become the infrastructure of DeFi, more stablecoins will flow in and users will need a place to swap them.

• Vietnamese startup AshSwap successfully raised US$2.5 million in capital