Over the last several months, there’s been a booming trend across the cryptocurrency industry. DeFi is a term on the tips of everyone’s tongues, and investors are pooling huge chunks of their capital in new yielding platforms and tokens.
It has created a fiery trend of automated market-making platforms emerging literally every single day where liquidity providers pool funds together and swap tokens for a profit. Central to these platforms are tokens that offer the holders several benefits.
But in the current sea of competition, OneSwap and the recently debuted ONES token seeks to stand out from the crowd with a unique value proposition for those that hold ONES.
What’s OneSwap And How Does It Compare With The Current DeFi Competition?
OneSwap is an innovative new DeFi project that consists of a DEX protocol built on an Ethereum-based ERC-20 smart contract. It offers permission-free token listing and automated market-making.
OneSwap is similar to other platforms that have recently grown in popularity, such as Uniswap and SushiSwap. However, OneSwap focuses more on user experience offering an on-chain order book and limit orders that more closely resemble the comfortable and familiar experience of traditional crypto exchange platforms.
OneSwap also ups the ante through its ONES token. It was designed with ONES integration in mind, which in turn will offer users additional benefits and governance over the protocol. Here’s why ONES makes a world of difference over UNI, SUSHI, and other competitor tokens.
Why ONES Provides Unparalleled Value To DeFi Die-Hards
On-chain governance is critical to DeFi applications and provides investors with peace of mind through influence in a project. OneSwap has launched the ONES token, enabling ownership transfer and voting rights for governance.
Users with at least 1% of the supply may initiate proposals themselves, and all users holding any amount of ONES can vote on other proposals from the community. Each token nets a user one vote and voting lasts for three days. Proposals are voted in when there are more tokens spent voting yes for the proposal than no.
OneSwap users can also pool liquidity into OneSwap’s capital pool with any stagnant digital assets and earn transaction mining fees as liquidity providers. 60% of the transaction fee obtained from swaps and transactions in OneSwap will be refunded to the liquidity provider. The remaining 40% of transacting fees will be used to repurchase and burn ONES tokens, maintaining a deflationary supply and better value long-term for holders and for the ecosystem.
New Transaction Mining Online. Makers Can Receive ONES as Rewards Through Transactions
To encourage users to further experience OneSwap’s features and attract more users to participate, thereby enhancing the liquidity of the platform and enriching the incentive mechanism of ONES, OneSwap has re-optimized OneSwap’s mining mechanism and officially launched a new transaction mining function on 28 October. Maker order executed on OneSwap can receive ONES equivalent to 20% of the transaction fees generated by the Taker order as a reward.
Also, OneSwap supports two more mining methods apart from transaction mining -yield farming and referral mining, with ONES token rewards being common to both of them.
Yield farmers can earn a maximum of 5000 ONES tokens per day. Referral inviters stand a chance to earn ONES tokens equivalent to 20 percent of the transaction fee that the invitee pays for the successful completion of the transaction.
To learn more about OneSwap, the ONES token, and why it stands out in the DeFi space, be sure to check out the official website and DEX.
OneSwap Website: https://www.oneswap.net/
OneSwap Twitter: https://twitter.com/OneSwap
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