UBESWAP THREAD STORM
1/ What is Ubeswap
@ubeswap is the first AMM DEX protocol in the @CeloOrg ecosystem. At its core, Ubeswap enables Celo users and applications to trade between any two tokens based on the Celo Blockchain. Ubeswap launched in February 2021
#CELO $UBE
2/ Tokenomic
$UBE is the governance token of Ubeswap. @ubeswap rewards liquidity providers with UBE tokens. Total Supply: 100M $UBE, Ube is used in the case Protocol Incentives, #Governance, #Staking
#CELO
3/ How does Ubeswap work?
An AMM functions similarly to an order book exchange in that there are trading pairings, such as CELO/$UBE. You interact with a smart contract that creates the market for you.
#CELO
4/ Pricing algorithm
@ubeswap defines the cure algorithm by following a formula similar to x*y = k (fixed constant number), which means that the overall liquidity of the pool must always be constant.
#CELO $UBE
5/ Liquidity Pools
Adding liquidity on Ube, you will receive 0.25% of all trades involving the pair you added to pools. Fees are added to the pool, accrue in real-time, and can be claimed by withdrawing your liquidity. After UIP-2 0.05% of total trading fees is used for buybacks
6/ Backer
A few famous investors of @ubeswap are Polychain, Bitcandy, The Passive Trust, Tango, Validator Capital, WOTrust.
#CELO $UBE
7/ Ubeswap Roadmap
Going forward, @ubeswap will remain committed to providing decentralized liquidity to the #Celo community and beyond.
8/ Ubeswap Potential
@ubeswap is one of the Celo ecosystem’s first AMM projects
Ubeswap TVL is currently about $37.21M, which increased over 2,620% The TVL of the Celo ecosystem with volume and liquidity quite impressive will continue to develop in the time come
#CELO
9/ Similar Projects
You can compare Ubeswap’s product quality and the possibility of a future price increase. Other projects that also provide similar AMM services as @ubeswap include: @Uniswap @PancakeSwap
@RaydiumProtocol @_DFyn @traderjoe_xyz ++
#CELO
10/ For more details about UbeSwap, you can read more from their medium: medium.com/ubeswap/
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