Native tokens have recently been introduced; still, no platform offers to swap them. We are working toward launching one that would be built using smart contracts. A website with a front end that makes it simple for the ordinary user to use will also be available, as well as a wallet and an online wallet.
A new kind of decentralized exchange, one that has an automated market maker with a book order. Integrating an order book with an automated market maker substantially increases liquidity. A structure that may not be viable on other blockchains, such as Ethereum, due to its low transaction speed and high fees. The platform will be deployed once that smart contracts are available on Cardano and we have completed all the development and testing. However, we need to expand our team in order to meet our deadline and have enough funds to maintain the project.
If you have experience with Plutus, developing smart contracts, react, java, c++, or a good UI/UX designer and like our project, send us your resume and a cover letter and salary expectation [email protected].
YaySwap is more than just a platform to swap assets; here are some fascinating features about our project:
++1- Swap native tokens instantly and with low fees:++Pay only 0.25% in Swapping Fees - No KYC How does it work? -From our website, choose which token you want to swap, and the amount -Send the tokens to the contract address -Receive the requested tokens
++2- Wrapped tokens:++We will start by offering Bitcoin and Ethereum Wrapped tokens in November. Later on, we will add other popular cryptocurrencies. This is how this is going to work: For Bitcoin and Native cryptocurrencies
- You register on our platform and send bitcoins to the BTC address linked to your account
- Bitcoins are received on a second layer protocol and locked
- Swap BTC for YBTC
- Your YBTC are sent to your Cardano wallet
- You can use your YBTC in Cardano smart contracts or to reduce transaction fees
3- Earn Tokens
Add liquidity to the YaySwap Liquidity pool and earn tokens. Hold YAY and get a part of the tokens the platform receives in fees.
4- A smart WalletA smart wallet with a list of all your assets, with the option to swap them in an instant. An online wallet that supports Cardano native tokens and other popular cryptocurrencies and a light wallet that support native tokens on Cardano. More information about YAY Tokens and the Distribution: Total Supply : 100,000,000 YAY 56,000,000 YAY Redistributed 8,000,000 YAY to the core team 36,000,000 YAY to the YAYinov Grant Fund
Timeline:
Yayswap token launch - April 2021 Yayswap Liquidity Launch: Aug - Oct 2021 Yayswap Platform Launch: Aug - Nov 2021 Wrapped token service Launch / Wrapped token vote / Launchpad: Nov 2021 - Dec 2021 YaySwap Fund Public Launch & YAYinov Fund Launch - Q2 2022 Definition of success -In 3 months, our team is complete, and we start working on the swapping platform -In 6 months, YaySwap fully developed & tested on the testnet -In 12 months, YaySwap is officially Launched & Wrapped tokens are offered
Funding:
We have already raised some funds to work on our project, but our calculations show that we do not have enough to build the project and maintain it for a year. In one year, the project will be at a point where it can run solely on donations. The money we have will go toward the development of the platform & the money we are requesting will go toward promotion and listing. We need to promote our DEX heavily in order to have enough traders and liquidity available. https://twitter.com/YaySwap http://t.me/yayswap