Join the decentralized revolution with BaySwap! Enjoy low fees, easy trading and exciting features like yield farming and staking on the SUI Network.
1 Introduction
bay swap
Bay Swap is one of the community-run decentralized exchange platforms built on the SUI network. It offers trading with the lowest fees, Easy UI/UX, multiple liquidity curves, yield farming, staking and many more features that will come before mainnet.
2. Key Features
2.1 yield farming
On the BaySwap platform, yield farming involves providing liquidity to each pair and collecting LP tokens in return. Prizes won from LPs can be wagered and withdrawn at any time; they are calculated every second. Any pending prizes will be automatically sent as more LP is added to a farm, and new rewards will be awarded based on the increased LP total.
2.2 Launch Pool
Anyone can list tokens on BaySwap without having to provide KYC as it has no permissions.
2.3 Fast, Secure and Friendly UX/UI
Thanks to being built on the Sui blockchain, which is currently the fastest blockchain and uses the Move language.
In addition to the Rust programming language, Move is a smart contract language that guarantees the safety of dapps on SUI. Bay Swap’s UI/UX makes it easy to swap and engage with your assets.
2.4 Multiple Liquidity Curves
To maintain continuous liquidity and prevent high slippage for stablecoin swaps, BaySwap uses a number of liquidity curves, including a constant product formula and a stablecoin curve.
2.5 Efficient Transaction Fees
Bay Swap has extensive experience in creating smart contracts and focuses on reducing costs while ensuring accuracy. Bay Swap offers a virtually free solution for everyone.
3. Liquidity Bootstrapping Event
Liquidity Bootstrapping Event (LBP) is an innovative method of launching a new cryptocurrency token on a decentralized exchange. This method helps ensure the launch is fair for all investors and prevents large investors or bots from manipulating the price to gain an advantage over smaller investors.
The LBP works by adjusting the weighting of the two tokens in the pool, rather than requiring a set 50:50 ratio as in other liquidity pools. This allows for a high initial price with minimal initial capital, and programmatically adjusting weights over time helps slowly lower the price and lengthen the price discovery phase. This creates a fair and equitable environment for all participants to await the price at which they feel they can fairly buy. By using LBPs, new projects can secure their reputation and gain a competitive advantage in the market.
4. How is Bay Swap different from other DEXs?
Bay Swap is an innovative decentralized exchange that places great emphasis on community participation and fair launch practices. By allocating 70% of the tokens to yield farming and 5.5% to DAO activities, Bay Swap encourages community participation and decision-making. Additionally, the use of multiple liquidity curves and stablecoin features ensures that stablecoin swaps are executed with the least possible deviation. Perhaps most impressively, Bay Swap pioneered the Liquidity Bootstrapping Event methodology to launch its $BWST tokens, providing a fair and equitable environment for all investors regardless of their size or investment level. By prioritizing fairness, transparency and community participation, Bay Swap stands ready to make a significant impact on the decentralized exchange space.
5. Tokenomics
Bayswap tokenomics
BaySwap team only holds 22% (including 2% for partners and incentive events)
78% is held by the community, in which:
- 70% of total supply = 700,000,000 $BSWT is shaped by yield farming activities
- 5.5% of total supply = 55,000,000 $BSWT minted from DAO activity (one of which is the Liquidity Bootstrapping Event)
- 2.5% total supply = 25,000,000 $BSWT minted for airdrop events
6. Partners
BaySwap works with many of the key Sui partners to develop mutually beneficial partnerships for the community. There are many partners with big names like Gamers Cat Club, Allspark, Ethos Wallet, Sui Bunnies, Sui Ecosystem, Suited Apes and Spacecy Wallet…
7. Timetable
Q4 2022
- build team
- Create MVP (Minimum Viable Product)
- Release the very first version
Q1 2023
- Enable limit order book feature
- Enable yield farming/staking
- revision contracts
- TS, Rust SDK
Q2 2023
- Create LBE-as-Service
- More partnerships
- Create an Android/iOS app
- Mainnet (estimated, depends on SUI team)
Q3 2023
- governance system
- Loan/perpetual
- Multichain integration
- There’s more to come
8. Official Links
9. Summary
Let’s review important information about the BaySwap project:
- exchange bay is a decentralized exchange built on Sui with a focus on cost optimization and high transaction throughput.
- exchange bay is a community-first DEX, then the weight of the “only community event” token accounts for the majority. BaySwap team only holds 22% (including 2% for partners and incentive events)
- For its members exchange bay organized an airdrop event. To qualify for the $BSWT token airdrop at TGE, you must have the Bay OG role, the OG Elite role, or at least the OATs.
⇒ After the SUI mainnet debut, Bay Swap will also launch its mainnet. SUI Mainnet Q2 and they have planned to launch their mainnet when their network is fully stable. More testnet waves are to come before that.
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