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THE KINGSWAP PROJECT

CryptoCurrency Press Release

27th September 202012:02 pm

KingSwap is the newest decentralized finance (DeFi) liquidity pool platform that is a further and better evolution of UniSwap. In addition to offering off-ramp fiat currency converting solutions to allow users great convenience between the fiat and cryptocurrency worlds.

KingSwap has also added some new Blockchain community-oriented features to the Uniswap’s core design, which will help boom the technology and provide user-friendly real-time benefits in terms of price curves and contributor rewards. Our protocol design offers to align incentives for the users by introducing strategies like pool rewards & network effects.

How does KingSwap work?

As there is no order book or any centralized party required to make trades, you might be wondering how trades happen without a third party. Well, KingSwap works with a model that involves liquidity providers creating liquidity pools. This model provides a decentralized pricing mechanism that efficiently smooths out third party depth. Here is how KingSwap works.

King token:

King tokens are designed on High Yield Staking LP Token Model, which are given as rewards for liquidity mining. The token then allows its holders to participate and stay longer in the governance of the platform and even entitles them to rewards.

Token distribution:

If you are a liquidity provider in Uniswap pools or you are still looking for a platform to invest and earn, we ask you to have a look at our token protocol. We have designed the token distribution mechanics in such a way that it is super easy and adaptable for the existing Uniswap and other compatible liquidity providers to migrate to our protocol.

To start with, anyone holding King Tokens can be a liquidity provider in the corresponding list of pools. Once they stake those tokens, they will start earning tokens and rewards at a massive 10,000 tokens per block rewards rate! The King Tokens per block will be distributed in accordance with the smart contract, and greatly benefit the liquidity providers of the supported pool. King Token will also be distributed in LP yield farming and traders trading mining.

Better Rewards Distribution and Cheaper for Swappers:

King is KingSwap’s native token. When you contribute to the liquidity pool and stay there for longer, you earn King Tokens. In UniSwap protocol, 0.3% of all trading fees in any pool are proportionately distributed to the pool’s liquidity providers. We make it cheaper for swappers to use Kingswap, and it only costs Swappers 0.25% for transaction fees on our platform. As per our design, 0.2% goes directly to the active liquidity providers, while the remaining 0.05% gets converted back to KING through KingSwap, and distributed to the KING token holders. Here are the astronomical additional rewards that we award:

With KingSwap, 10,000 King Token Rewards per Block are produced and a large proportion awarded to early adopters and liquidity providers.

We take our security seriously:

KingSwap has devised strategies to ensure project sustainability and project security audit. A small portion of each King distribution will be set aside for potential future setbacks and implementation of governance proposals.

We believe in the security of our users and their assets, and we aim to work hard towards eliminating any potential threats and risks. Before our launch, we have fixed all the bugs and security threats that were reported by Uniswap and other clones of it. We also have a set fund to pay all bills for security audits.

As for now, we are all set for a professional security audit. Our team will update the details of the audit on our Telegram group and Discord. Stay in touch!

KingToken: The token contract, with COMP/YAM voting functionality. KingCoronation: Deposit LPs tokens to farm KING. KingGenerosity: Collect revenues, convert to KING, and send to KingRoundTable.

KingRoundTable: Stake KING to earn more KING. Migrator: Migrate LP tokens from Uniswap/Sushiswap to KingSwap. GovernorAlpha + Timelock: KING holder governance.

All contracts written by KingSwap have reasonable test coverage. We will continue to work ourselves towards a better and more reliable protocol by testing more. If any of you have any suggestions or face any issues with it, please let us know privately via Discord or Telegram. We are open to suggestions and will gladly offer help.

JOIN US!

  • • KingSwap: https://KingSwap.io
  • • Discord: https://discord.gg/pRnva3
  • • Telegram group: https://t.me/kingswap
  • • GitHub: https://github.com/KingLuigy/KingSwap
THE AUTHOR
Amanda Tan
Amanda Tan