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Summary of SalmonSwap
- SalmonSwap is a decentralized exchange on TRON that rewards liquidity providers with lasting rewards.
- Liquidity providers receive a proportionate share of 0.3% trading fees, with 0.25% going to active providers and 0.05% to SALMON holders.
- SALMON holders must stake their tokens to benefit from the 0.05% fee distribution.
- Rewards are proportional to the amount of SALMON staked versus the total SALMON staking pool.
- Initiative to help with liquidity migration: stakers of JustSwap LP tokens rewarded with SALMON.
- Genesis Week rate: 100,000 SALMON per pool per week (first
Introducing SalmonSwap: A Revolutionary DeFi Platform
SalmonSwap is touted as a decentralized exchange that empowers users to reap perpetual rewards on TRON. By striking a delicate balance between the short-term and long-term interests of liquidity providers and the community, SalmonSwap ensures that these providers receive enduring incentives, even after withdrawing their stake from the liquidity pool.
With SalmonSwap, liquidity providers are entitled to a proportionate share of the trading fees generated by each pool they contribute to. Notably, unlike other Automated Market Maker (AMM) protocols, liquidity providers will continue to receive a share of the trading fees even after withdrawing their liquidity. Each trading pair is subject to a 0.3% fee, which is subsequently converted to SALMON tokens and distributed to past and present liquidity providers for each pool. The fee allocation is as follows: 0.25% is distributed to active liquidity providers, while the remaining 0.05% is converted into SALMON (through SalmonSwap) and allocated to SALMON holders. This system ensures that early liquidity providers continue to reap long-term benefits even after withdrawing their assets. To benefit from the 0.05% fee distribution scheme, SALMON holders must stake their tokens. Rewards are proportionally allocated based on the amount of SALMON staked relative to the total SALMON staking pool.
To facilitate liquidity migration to SalmonSwap, the platform is launching an initiative that rewards stakers of various JustSwap LP tokens with SALMON. For the inaugural two-week period commencing on September 3rd, 2020, at 19:00 UTC Time, the platform will generate 10 times the standard amount of SALMON per block, which will be distributed to these pools. Thereafter, the SALMON generation rate will revert to its long-term level.
The Genesis Week rate is set at 100,000 SALMON per pool per week, whereas the long-term rate is established at 10,000 SALMON per pool per week.
Notably, SALMON pools will be entitled to a 2x reward multiplier, while all other pools will be allocated equal weightage. This strategic approach is designed to incentivize and reward the pioneering adopters who contribute to SalmonSwap’s growth and development.