What is MoonSwap (MOON) | What is MoonSwap token | What is MOON token

What is MoonSwap (MOON)?

MoonSwap is a second layer solution that aims to eliminate the speed and high gas fee issues that can come with trading on automated market making ( AMM) platforms like Uniswap.

As an alternative to popular AMMs like  Uniswap and  SushiSwap, MoonSwap looks to make trading cryptocurrencies a fast, (almost) free process, thanks to the use of the  Conflux blockchain. MoonSwap leverages Conflux’s Tree Graph (TG) technology to ensure transactions are confirmed within 23 seconds, while achieving a throughput of up to 6,000 transactions per second (tps).

The platform launched the Moon token in September 2020 after unveiling its asset migration process, which allowed holders of all Ethereum-based assets locked in MoonSwap to migrate their assets to Conflux cross-chain assets (e.g. ETH to cETH). This is a one click process that allows users to easily acquire Moon LP tokens.

The MoonSwap token (MOON) is an  ERC20 asset that acts as a reward mechanism for holders — since all fees accrued on the platform are distributed to MOON holders. Those who participated in the MoonSwap migration prior to January 2021 were also rewarded with a Dragon  non-fungible token (NFT) for use within the ConDragon DeFi RPG game.

MoonSwap: High speed,0 GAS AMM DEX Based on Ethereum and Conflux

AMM is a huge innovation in the entire crypto space. It has changed the way people swap cryptocurrencies. Hayden Adams developed Uniswap with his extraordinary creativity: liquidity pools allow users to easily switch between tokens in a fully decentralized and non-custodial way. Meanwhile, liquidity providers earn passive income from transaction fees proportionate to their share in the pool.” SushiSwap has made further improvements to Uniswap, at the same time, SushiSwap’s user base growth from sketch is also impressive.

These well-designed protocols are all very exciting, but as Ethereum becomes more “prosperous”, the GAS fee is also getting higher and higher. We aim 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, ZERO GAS fee, more diverse DAO governance, and more passive income to be earned.

We developed MoonSwap and Moon Token. MoonSwap introduced 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 upholds a pioneering spirit and has huge passion towards the great work “Star Trek”. Hence, we embrace 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 with this Crypto Universe composed of lots of Blockchain Planets: To boldly go where no man has gone before, while getting $Moon as rewards.

Protocol Iintroduction

A high- speed and 0-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 core design idea of Bitcoin system: Computing power is the only weapon competing for the right to generate blocks. 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 lower than a cent. One transaction can be confirmed within 23 seconds , and its security level is 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 a 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 the “400GWEI and transaction failed”.

Multiple incentives for liquidity providers

We agree with NomiChef’s view that in traditional AMMs, “Liquidity providers only earn the pool’s trading fees when they are actively providing liquidity to that pool. Once they withdraw their shares in the pool, they can no longer receive that passive income.

Moreover, as the 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 kept part of SushiSwap’s design, and added multiple incentives to LPs at the same time.

1. Become MoonSwap LPs and earn $MOON

2. Become MoonSwap LPs and earn transaction fees

3. Become MoonSwap LPs and earn FC (provided by Conflux community, highly appreciated)

4. Become MoonSwap LPs and earn tokens from MoonSwap’s airdrop partners

5. When the community grows, we will release new incentives, which will be announced at the due time

We will issue MOON Token, 98.75% of which will be distributed through mining (The other 1.25% has been burned). 90% of MOON released by mining will be 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 be sent to our LPs also.

There will be 0.3% trading fees and 0.25% of it will go directly to LPs, and the remaining 0.05% will be used to buyback $MOON from MoonSwap, which will be burnt after. So, from this point of view, $MOON is deflationary.

Token Distribution

The total supply of MOON is 100,000,000, which will be released throughout about 7.6 years, of which 98.75% will be distributed through mining (The other 1.25% has been burned). 90% of the MOON released by mining will be distributed to users and 10% is reserved for the team. Mining will be divided into 5 stages:

Genesis Mining:100 MOON/block with 50,000 blocks in total (~7 days)

Stage 1:10 MOON/block with 5,000,000 in total (~1.9 years)

Stage 2:5 MOON/block with 5,000,000 in total (~1.9 years)

Stage 3:2.5 MOON/block with 5,000,000 in total (~1.9 years)

Stage 4:1.25 MOON/block with 5,000,000 in total (~1.9 years)

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, proposing that as long as the users become LPs in MoonSwap, they don’t need to transfer their LP tokens to another place for staking, and can directly participate in yield farming and receive rewards. Currently, we received positive feedbacks 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 release new incentives and we look forward to that moment.

How to trade on MoonSwap?

1. Connect Wallet

First, you need to connect to the Conflux wallet and authorize it (if you need to create a Conflux wallet, please click here)

2. Log into the wallet

Enter the password and authorize to login to Conflux wallet, your wallet address will be displayed on the right top of the homepage

3. How to Swap tokens?

You need to use one Token to exchange for another Token, enter the Token you want to swap in the “From” dropdown list, such as ETH, and then select the Token you want to get in the “To” dropdown list, such as USDT. After approval, you can click on Address to view the current progress.

4. How to provide liquidity?

You need to click on the “Pool” and then click on “Add liquidity”.

You need to provide the equivalent value of two tokens to the pool. For example, if you provide 1 ETH, you must also provide the equivalent of 357 USDT (the price at the time of writing the document). After clicking on the authorization, confirm again to provide liquidity. You can click on your address to view the progress.

5. Successfully provide liquidity

After the transaction is confirmed, the assets you provide will be displayed in the pool. At this time, you have become an LP and can enjoy a 0.3% fee income.

Of course, you can remove your liquidity at any time by clicking “Remove”, then your assets will return to your Conflux wallet immediately.

6. Setting

You can set parameters in advance before each transaction, such as slippage, transaction deadline, interface mode, etc.

1. Slippage

If the price fluctuation range of your transaction exceeds the slippage you set, the transaction will be canceled.

2. Interface Mode

You can switch your favorite mode, such as Light Mode and Dark Mode.

3. Language Switch

We support several languages.

How to mine on MoonSwap?

1. Provide liquidity

First, you need to provide liquidity on MoonSwap.

2. Farm

1. Return to the homepage, click on Farm, and select Conflux Galaxy

2. Select the trading pair you provided and click farm (for example, cUSDT-cETH)

3. Click [+] to enter the amount you want to stake and confirm

4. After the stake is successful, it will automatically farm, and you can click to claim cMOON at any time

Moonswap Tutorial

How and Where to Buy MoonSwap (MOON) ?

MOON token is now live on the Ethereum mainnet. The token address for MOON is 0x68a3637bA6E75c0f66B61A42639c4e9fCD3D4824. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough ETH in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Uniswap Decentralized Exchange, we use Metamask wallet

If you don’t have a Metamask wallet, read this article and follow the steps

☞What is Metamask wallet | How to Create a wallet and Use

Next step

Connect Metamask wallet to Uniswap Decentralized Exchange and Buy MOON token

Contract: 0x68a3637bA6E75c0f66B61A42639c4e9fCD3D4824

Read more: What is Uniswap | Beginner’s Guide on How to Use Uniswap

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once MOON gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
 ☞ https://www.bittrex.com
 ☞ https://www.poloniex.com
 ☞ https://www.bitfinex.com
 ☞ https://www.huobi.com

Find more information MOON

☞ Website ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board ☞ Coinmarketcap

🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you’re a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

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