Topic: [ANN] [DEFI] MoonSwap: High speed, Zero GAS AMM DEX with Ethereum and Conflux (Read 203 times)

For the entire crypto space, AMM is a huge innovation. It has changed the way people swap cryptocurrencies. Hayden Adams developed Uniswap with an extraordinary creativity:“ Liquidity pools allow users to easily switch between tokens in a fully decentralized and non-custodial way. Meanwhile, liquidity providers earn a passive income from trading fees that is based on the proportion of their contribution to the pool.” SushiSwap has made further improvements to Uniswap, at the same time, SushiSwap’s cold boot is also impressive.

These well-designed protocols are so exciting, but as Ethereum becomes more “prosperous”, the GAS fee is also getting higher and higher. We hope to solve this problem by combining the excellent ideas of Hayden Adams and NomiChef with the Layer 2 solution of Ethereum, and at the same time bring more surprises to users: Up to 6000 TPS, the security level of each transaction is equivalent to 30 blocks on Ethereum, nearly zero GAS fee, more diverse DAO governance, and more passive income can be earned.

We developed MoonSwap and Moon Token.It introduces Layer 2 solution to AMM, so that users who hold assets on Ethereum can also enjoy the “high-speed and zero GAS fee” experience, while also achieving higher asset utilization.MoonSwap is full of pioneering spirit,and because of our love for the great work “Star Trek”, we can easily think of the famous “five-year mission”:To explore strange,new worlds.To seek out new life and new civilizations.To boldly go where no man has gone before.

This is our mission.Every member of MoonSwap community is a crew on the “Enterprise” starship,Enterprise will lead us to explore and connect this Crypto Universe composed of lots of Blockchain Planets:To boldly go where no man has gone before,and you will get $Moon as rewards.

Protocol introduction
A high speed and zero GAS fee architecture based on Ethereum and Conflux
During the construction of MoonSwap, we have received a lot of help from Conflux. They are an excellent blockchain team, committed to building an efficient and secure blockchain system. Conflux inherited the central design idea of Bitcoin system: Computing power is the only weapon in competing for the right of block generation. By adopting the Tree Graph (TG), Conflux realized a high throughput rate of 3000–6000 TPS in our internal network testing without compromising decentralization, fees per transaction will also be much less than a cent. It can be confirmed in 23 seconds, the level of security equivalent to 6 blocks on Bitcoin, or 30 blocks on Ethereum.

In our plan, we will treat Conflux as the Layer 2 of Ethereum, which gives us the ability to build high speed AMM and receive cross-chain assets. Our protocol will help users on Ethereum map their assets to the Conflux and generate cTokens. Ethereum users can finally say goodbye to “400GWEI and transaction failed”.
Multiple incentives for liquidity providers
We agree with NomiChef’s view that in traditional AMM,“Liquidity providers only earn the pool’s trading fees when they are actively providing said liquidity. Once they have withdrawn their portion of the pool, they no longer receive that passive income. Moreover, as protocol gains traction, despite being early liquidity providers, they risk getting their return diluted as (bigger and wealthier) stakeholders such as venture funds, exchanges, mining pools join the protocol with a huge amount of capital.” We used part of SushiSwap’s design, and we could give our LPs multiple incentives at the same time.
1) Become MoonSwap LP and earn $MOON
2) Become MoonSwap LP and earn transaction fees
3) Become MoonSwap LP and earn FC(provided by Conflux community,thanks to Conflux)
4) Become MoonSwap LP and earn tokens from MoonSwap partners
5) When the community grows, we will open new incentives, which will be announced at that time
We will issue MOON Token,of which 98.75% will be distributed through mining.90% of the MOON released by mining is distributed to users and 10% is reserved for the team. In order to let more people experience the outstanding performances of Conflux, the Conflux community provided us with some of their FC token, which will all be sent to our LPs also.


There will be 0.3% trading fees and 0.25% go directly to LPs, 0.05% will be used to buy $MOON from MoonSwap and those $MOON will be destroyed.So, from this point of view, $MOON is deflationary.
In addition, many DeFi projects use their tokens to encourage users to provide liquidity for their pairs in Uniswap. We will discuss with these teams,as long as the users becomes LPs of MoonSwap, they don’t need to move LP tokens to another place for stake, and can directly participate in their yield farming and receive rewards. Currently, we do receive positive signals from some projects, like ForTube and dForce.

We attach great importance to the power of the community. When our community is strong enough, we will open new incentives. We look forward to this moment.
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Token Distribution:
The total amount of MOON is 100,000,000,which will be released in about 7.6 years, of which 98.75% will be distributed through mining.90% of the MOON released by mining is distributed to users and 10% is reserved for the team. Mining will be divided into 5 stages:

Genesis Mining:100 MOON/block,total 50,000 blocks(~7 days)
Stage 1:10 MOON/block,total 5,000,000 blocks(~1.9 years)
Stage 2:5 MOON/blcok,total 5,000,000 blocks(~1.9 years)
Stage 3:2.5 MOON/block,total 5,000,000 blocks(~1.9 years)
Stage 4:1.25 MOON/block,total 5,000,000 blocks(~1.9 years)
For a better cold boot, our token distribution design will help existing Uniswap liquidity providers to start migrating to MoonSwap more easily. There are 13 pools in our site now,any Uniswap LP Token holder can put those LP Tokens into our pools.When the Ethereum block reaches 10,827,400, we will start “Genesis Mining”.

The details of the token distribution during the Genesis Mining:
Stablecoins:ETH/USDT,USDC/ETH,DAI/ETH,sUSD/ETH
Lending Protocols:LEND/ETH
Oracle:LINK/ETH
Eastern Power:YFII/ETH,FOR/ETH,DF/ETH
Special Coins:ETH/AMPL,YFI/ETH
Pioneer:SUSHI/ETH
ToDaMoon(3x reward):MOON/ETH

We can add more pools and change their weights later, depending on the community.

In order to promote the development of MoonSwap community and ecosystem, MoonSwap will set up “Moon-Eco Grants Fund”(MEGF), and rewards MOON TOKEN for the following behaviors, including but not limited to build MoonSwap global community nodes, provide liquidity for MoonSwap, develop MoonSwap tools, global KOL cooperation, etc..We welcome capable friends to contribute to the growth of the MoonSwap community.
The initial scale of MEGF is 1.25 million MOON, of which 625,000 MOON will be used to motivate community users to exercise rights. At the same time, MEGF will match the received exercise amount with equivalent MOON and put them into Uniswap MOON/ETH pool (will be migrated to MoonSwap later) to provide liquidity for MOON. According to the development of the community, the MoonSwap team will consider continuously throwing the MOON earned by the team into MEGF to help the MoonSwap community become stronger.

Liquidity Migration Plan:

Around the first 50,000 blocks from the protocol’s inception (~7 days), we will be migrating all the liquidity tokens staked onto MoonSwap contracts,and use Conflux as the Layer 2 solution of Ethereum to receive these cross-chain assets.This migration will involve taking all of the Uniswap LP tokens staked on MoonSwap, redeeming them on Uniswap for the respective token pairs, casting corresponding cTokens on Conflux and build new liquidity pools in MoonSwap. These new pools will be almost identical to the standard Uniswap pool,with the added features that faster transaction speed,nearly zero GAS fee,and any fees accrued will be distributed to $MOON token holders through the logic outlined above.

Security Audit:

Security means everything to us, we have carried out very detailed testing. In addition, we have invited Chaitin,PeckShield,Slowmist to conduct a third-party audit of our code, which will probably be completed in a few days.

Twitter：https://twitter.com/imMoonSwap
medium：https://medium.com/@MoonSwap
Discord：https://discord.gg/qANMYth
telegram：https://t.me/moonswap