DarkNess Swap is the DarkNess stablecoin swap product. It is an automated market maker (AMM) that specializes in fast and efficient stablecoin swapping at the best rates with the lowest fees and minimum slippage on the Cronos network.
Compared to popular AMMs like UniSwap, PancakeSwap, or VVS.Finance, DarkNess Swap offers:
10X lower swap fees
Over 100X smaller slippage
Such highly efficient asset swapping enables maximum efficiency with almost zero capital loss. Initial stable assets for trading include USDC, USDT, and DAI tokens (the 3stables pool).
When users deposit one or more of these stablecoins in 3pool, a Liquidity Pool (LP) token is received in return. This 3pool LP token can be staked to earn NESS.
XXX NESS tokens (xx% of supply) have been allocated for 3stables pool (USDC/USDT/DAI) liquidity incentives.
- 0.1% swap fee for stable pool
- 0.15% swap fee for other pool
- Lowest swap fees on Cronos network
- The swap fees will be used to buy back DARK and NESS
- 0.05% liquidity withdrawal fee (exit fee)
- The fee is linearly reduced to 0% in 4 weeks
- If a user has made several deposits, each subsequent deposit has its 4-week withdrawal fee timer. In other words, the "new" withdrawal fee is only applied to the "new" deposit amount and does not affect the withdrawal fee timer for the previously deposited amounts. Please see an example below
- Withdrawing (partial or full) liquidity does not reset the timer
- The liquidity withdrawal fees automatically go to current DarkNess Swap liquidity providers
User A has deposited $100,000 to DarkNess Swap
- After 1 week if user A decides to withdraw $100,000 liquidity, then user A will need to pay $100,000 * (0.05% * 0.75) = $37.5 fee
- After 2 weeks if user A decides to withdraw $100,000 liquidity, then user A will need to pay $100,000 * (0.05% * 0.50) = $25.0 fee
- After 3 weeks if user A decides to deposit another $20,000 to DarkNess Swap, this $20,000 deposit will have a new 4-week withdrawal fee timer which does not affect the $100,000 deposit timer. In other words, the withdrawal fee on the original deposit of $100,000 does not reset to 4 weeks because the user has made a subsequent deposit
- After 4 weeks (or later), there is no withdrawal fee on the $100,000 liquidity for user A anymore. But, the withdrawal fee on the $20,000 deposit is still active for another 3 weeks
Last modified 1yr ago