Moonswap : Community Driven Next generation AMM protocol

The AMM protocol has become a very popular piece of cryptocurrency infrastructure. The concept of ​​AMM is very simple: it allows users to receive coins directly from another user via a web of trust or to complete a transaction online.

Moonswap is a new community driven altcoin, with an innovative design that makes it more like Bitcoin than any other altcoin. Unlike other altcoins, it is community driven. Anyone can help develop the protocol and even create their own version of the protocol. The protocol is currently being developed in waves with three stages: “Proof of concept” (PoC), “Proof of concept” (PoC), “Proof of concept” (PoC)

Moonswap is an easy to use and secure way to swap one coin for another, or one type of blockchain for another. It is a community driven project, with the goal of creating a trustworthy and rewarding system that will move the cryptocurrency community forward.

If you’re familiar with the DeFi space, you’ve probably heard of AMMs or automated market makers. They are one of the biggest innovations in the crypto-currency world today and have revolutionized the way traders trade different crypto-currency tokens. The Uniswap platform, built on the Ethereum blockchain, is MSA’s first example. Hayden Adams invented Uniswap so that the platform’s liquidity pools would allow users to exchange cryptocurrency tokens in a transparent, fully decentralized and fiduciary manner. MSAs also allow users who allocate liquidity to specific pools (also known as liquidity providers or LPs) to earn passive income by receiving a portion of the platform’s trading fees in proportion to their share of the pools.

Since the introduction of Uniswap, a number of other MSAs have been developed that are based on the underlying architecture of Uniswap, but with the aim of correcting the many shortcomings of this platform. This new group of automated market makers includes the popular SushiSwap, PancakeSwap and many others. For now, these new protocols are admirably developed and really interesting, but if many new projects keep coming on Ethereum, the ASM fees on the platform will also undeniably rise. This is where MoonSwap comes to the rescue with an updated design and intent to solve this problem.

MoonSwap is the world’s first hybrid cross-chain DEX (decentralized exchange) running on Ethereum Layer 2. The decentralized trading platform is based on the Conflux blockchain. MoonSwap is designed to eliminate both the speed issues and high gas prices that older MSAs like Uniswap could not avoid.

MoonSwap can make cryptocurrency trading a fast, efficient, and even almost free process by using the Conflux blockchain. The MoonSwap platform uses Conflux Blockchain’s Tree Graph or TG technology to validate transactions in just 23 seconds, with a throughput of up to 6,000 TPS (transactions per second).

The MoonSwap platform’s own crypto currency is the Moon token. The platform recently launched the Moon token in September 2020.

Moon change: Background

The MoonSwap project has a great passion for the American science fiction media franchise Star Trek. For the platform, they have something they call a five-year mission, which is another Star Trek reference. Here’s how they describe their goal: Each member of the MoonSwap community is the crew of the Starship Enterprise that will lead us to explore and connect to this crypto-universe of multiple blockchain planets: Go bravely where no one has gone before you and earn $Moon as a reward.

The development team of the MoonSwap platform has chosen to remain anonymous so far. However, the founder of the project, who goes by the name of Mr. … Moon and operates under that name. In an interview with CoinMarketCap, the team mentioned this reason for remaining anonymous:

Most importantly, we hope no one takes themselves too seriously because it’s a community project. Especially as more and more community developers participate in the development of MoonSwap, the concept of a founding team will become less and less important.

According to a member of the MoonSwap team, the aforementioned Mr. Lune has experience in a traditional internet organization. The CTO of MoonSwap also reportedly has similar experience and has been involved in the development of the deal since 2017. This is all the information MoonSwap has provided so far about its team members.

MoonSwap Technology Architecture:

As mentioned above, the MoonSwap platform has introduced a second-tier solution for automated market makers. The goal is to provide users who own assets on the Ethereum blockchain with high speed, zero ASM fees, and more efficient use of assets.

MoonSwap was developed in collaboration with the Conflux team. The MoonSwap platform is protected by a consensus-based proof-of-work (POW) mechanism. The mining network works in such a way that the chance of attacks is eliminated by 51% and the MoonSwap network thus provides maximum security.

MoonSwap smart contracts have been tested by a number of third-party security firms, including Slowmist and KnownSec, which found no vulnerabilities. You can also view the code for the MoonSwap platform smart contract, as available in the MoonSwap GitHub repository.

Conflux used the basic idea of the Bitcoin blockchain, which is that only computing power competes for the right to create blocks. Using Tree Graph (TG) technology, Conflux helped MoonSwap achieve high network throughput of 3000-6000 TPS without neglecting the decentralization aspect. This also makes transaction fees on the platform cheaper and well below a penny. A transaction on MoonSwap can be confirmed in 23 seconds, and the security level is equivalent to 6 blocks on the Bitcoin blockchain and up to 30 blocks on the Ethereum platform.

The MoonSwap team plans to consider Conflux as the second layer of the Ethereum platform, allowing it to develop a fast automated market maker and accept cross-chain crypto currency tokens. MoonSwap can help Ethereum users transfer their assets to the Conflux chain and mine cTokens.

The MoonSwap platform follows Chief Nomi’s (creator of SushiSwap) view on how liquidity providers can generate revenue from traditional MSAs, namely that liquidity providers only earn trading commissions from a pool if they actively provide liquidity to that pool. Once they withdraw their shares from the pool, they can no longer earn this passive income. However, as many previous MSA protocols have shown, once the platform gains popularity, individual liquidity providers risk seeing their revenues diluted when much larger and wealthier participants with significant capital, such as. B. Venture capital funds, exchange-traded platforms and mining pools.

In terms of lender benefits, MoonSwap, following the basic design of SushiSwap, also adds a number of incentives for lenders. These incentives include the ability to earn Moon tokens, receive a portion of the transaction fees generated by the MoonSwap platform based on each liquidity provider’s share, earn Conflux Network or FC tokens, and receive tokens from various MoonSwap drop partners. The MoonSwap team also says that as the community grows, new and exciting incentives will be offered to cash providers on the MoonSwap platform.

Competitive analysis

MoonSwap, as an AMM in the emerging DeFi space, has a host of competitors in the form of large automated market makers such as UniSwap, SushiSwap, PancakeSwap, BakerySwap, MooniSwap, Raydium and PolkaSwap. It is true that most of these platforms have a much larger community than MoonSwap, as well as a number of other advantages. However, thanks to its updated features and the fact that it runs on not one, but two of the biggest platforms in the cryptocurrency space right now, MoonSwap has some advantages over its many competitors.

Save token

The MoonSwap platform launched its Moon token in September 2020 after announcing the asset migration process. The Moon token, or MOON, meets the ERC-20 standard that all Ethereum-based tokens must meet. Moon tokens are deflationary and act as a reward mechanism for all holders; indeed, all transaction fees collected by the platform are shared among MOON holders.

The maximum supply of MOON tokens would be limited to 100 million. By the end of 2020, nearly 10.65 million MOON tokens were in circulation. 90% of the newly printed MOON tokens are distributed to backers on MoonSwap, with the remaining 10% remaining for the team behind MoonSwap.

According to the MoonSwap team, it will take about 7.6 years to remove the entire stock of Moon tokens from circulation. The number of Moon tokens mined per block is halved every 1.9 years, in line with bitcoin’s halving rule. In step 1, the number of moon points generated per block is 10, and at the end, in step 4, it is 1.25 moon points per block.

98.75% of the total number of Moon tokens are expected to be distributed through the MoonSwap cash extraction process. Although the remaining 1.25% of MOON’s total assets were originally earmarked for the Moon EcoGrantsFund (MEGFI), they were later burned at the request of the MoonSwap community.

If you want to own Moon tokens, you can find them in the Uniswap protocol list. For now, Uniswap is the only third-party crypto exchange platform that supports the Moon token. However, the cMOON tokens can be exchanged for other cryptocurrencies based on the Conflux network.

Historical price trends

When it launched in September 2020, MoonSwap cost just over $3.30. Since then, however, the price of MoonSwap has had its ups and downs. In October 2020, the price fell to just over $0.5. In November of the same year, MoonSwap’s share price fell further, to about $0.4. In December, the MoonSwap share price was back at $0.2. The Moon token entered 2021 with a price of $0.0002, plus or minus. By the end of February, however, MoonSwap’s share price had fallen to about $0.3. At the beginning of June 2021, the price of the Moon token was approximately $0.0008.

Conclusion:

Besides being part of the Ethereum ecosystem, the MoonSwap platform has another advantage that sets it apart from the competition. The support and technical assistance of the Conflux network, which is one of the best technical teams in China, is an advantage. MoonSwap is an integrated project that combines the best qualities of some of the best crypto projects in the DeFi space, namely AMM’s Uniswap and SushiSwap technologies, as well as the incentives offered by Yearn Finance to its liquidity providers.

The technology behind MoonSwap is one of the most advanced in the industry today. The MoonSwap platform uses Ethereum’s Layer 2 blockchain solution to combine the ideas of Uniswap creator Hayden Adams and SushiSwap CEO Nomi. This already makes MoonSwap theoretically more powerful than its two biggest competitors. It also offers its users a host of benefits, including the highest GST in 6000, virtually no PSM fees, a much more diverse DAO administration (decentralized self-governing organization) and, of course, a diversified and richer revenue portfolio. Judging by the company’s performance so far, it is safe to say that MoonSwap will continue to grow in the near future.

If you are interested in learning more about the MoonSwap platform, you can follow the project’s accounts on various social media platforms such as Medium, Github, Twitter, Discord, and Telegram.

. He is one of the very first enthusiasts of blockchain and cryptocurrency in India. After working in the field for several years, he founded IBC in 2016 to help other early adopters learn about the technology.
Before joining CBI, Hitesh founded 4 companies in the field of cyber security and IT.

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Bitcoin is a digital currency known for its anonymity, low fees, and decentralization. However, it also has limitations. Transactions can take hours to confirm, and there is a limit on the amount of bitcoins that can be sent. The solution to this problem might be found in the technology of “moonswaps”.. Read more about moonswap wallet and let us know what you think.

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