klayswap-protocol logo download PNG or SVG

Information about klayswap-protocol

KLAYswap is an innovative cryptocurrency platform that facilitates immediate on-chain swaps. It operates through an on-chain liquidity pool that ensures liquidity through automated market-making mechanisms. This platform allows users holding KLAY or KCT tokens to become liquidity providers and earn income from transaction fee commissions. In addition, KLAYswap enables the transfer of Ethereum-based tokens to the Klaytn ecosystem through Orbit Bridge, a transparent IBC bridge built on Orbit Chain. This integration also enables users to engage in yield farming with previously unconnected asset pairings in the decentralized world. The platform's governance token, KSP, empowers token holders with the responsibility and authority to shape governance agendas in accordance with protocol rules and regulations, thereby driving the development of the service. Moreover, KSP holders play a crucial role in determining aspects such as fees, mining distribution, and contracts. Another valuable feature of KSP is its ability to create new liquidity pools. To initiate a new KCT token pair pool on KLAYswap, a specific amount of KSP must be paid as a pool contract creation fee. KSP tokens can be acquired through liquidity mining, with distribution occurring exclusively through liquidity mining in each Genesis block. These tokens are then allocated as compensation to KLAYswap liquidity providers in proportion to the liquidity they provide to the overall pool.

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