V1 GBL Bot
Swap V1 documentation:
Last updated
Swap V1 documentation:
Last updated
Purpose and Mission:
WaveSwaps is dedicated to revitalizing less-traded or illiquid tokens, pioneering the future of token liquidity in the digital asset space. Our mission is to redefine decentralized swapping, setting new standards for innovation, inclusivity, and accessibility within a multichain blockchain environment. At the heart of our ecosystem lies the Global Token (GBL), a limited-supply asset released exclusively through swapping activities. GBL serves as a catalyst for unlocking liquidity and potential in recycled tokens, empowering users with VGBL DAO voting tokens to govern these supplies transparently.
Swap V1:
Swap V1 represents the cornerstone of our ecosystem, offering a user-friendly and intuitive model for unlocking token liquidity. Unlike traditional staking mechanisms where rewards are generated through minting or new emissions, Swap V1 rewards participants by accumulating and distributing already-circulated GBL tokens through swapping activities. To initiate Swap V1, users simply provide swapping liquidity in GBL tokens, balanced with an appropriate amount of recycle tokens. This balance is calculated based on the exchange rate between GBL and the swapping token on the decentralized exchange (DEX). The exit value of Swap V1 rewards users with 36% more GBL tokens than the liquidity they provided, regardless of the global price of GBL tokens. This 36% increment is solely derived from swapping activities.
When users create a new Swap V1, their provided swapping liquidity in GBL is distributed as follows: 30% to the oldest swap by timestamp, with the remainder proportionally distributed among all active swaps. Once a Swap V1 accumulates a target value of 136%, it automatically closes, allowing users to claim their GBL tokens and transfer them to their MetaMask wallet.
DAO Governance:
DAO voters play a pivotal role in the WaveSwaps ecosystem, proposing and deciding on changes and upgrades. They determine parameters such as Swap V1 execution time limitations, initial allocation percentages, and more, ensuring the ecosystem evolves in alignment with community interests and needs.
Reflection of Proof-of-Stake Model:
Swap V1 reflects the essence of the proof-of-stake cryptocurrency multiplication model, where users stake their assets (in this case, GBL tokens) to earn rewards (additional GBL tokens). This model encourages long-term commitment and participation in the ecosystem, promoting stability and growth.
