📰Whitepaper
The official whitepaper for the 1Swap Protocol on PulseChain
1Swap Whitepaper
Abstract
Welcome to the 1Swap Whitepaper, a comprehensive guide outlining the key features and functionalities of the 1Swap crypto token and farming platform on PulseChain. This document covers various aspects, from purchasing PLS to participating in the 1Swap ecosystem.
Table of Contents
Introduction
Overview of 1Swap
PulseChain and PLS Acquisition
Purchasing PLS
Using ChangeNow for PLS
Bridging with bridge.pulsechain.com
Acquiring $ONE on PulseX
Visiting app.PulseX.com
Building Thick Liquidity
Native Only Farm for the First 12 Hours
Locking LP Tokens for Enhanced Liquidity
Non-Native Pools and Farms
Unlocking with a 4% Deposit Fee
Buyback Mechanism for Native Tokens
Temporary Referral Program
25% Referral Fee Reward
Ensuring Sustainability in the Platform
Single-Sided-Staking with Sparkler-like System
Locking Native Tokens for Rewards
Earning LP Tokens Until Unlock
1. Introduction
1Swap is a cutting-edge farming platform built on the PulseChain network. PulseChain, designed to be a high-performance blockchain, provides a robust foundation for 1Swap's innovative features and functionalities.
1.1 Overview of 1Swap
1Swap aims to create a decentralized and vibrant ecosystem for crypto enthusiasts, offering unique farming opportunities and rewarding users for their participation.
1.2 PulseChain and PLS Acquisition
To engage with the 1Swap platform, users need to acquire PLS (PulseChain native token). This can be done through various methods, such as using ChangeNow or the official bridge.pulsechain.com for seamless bridging.
2. Purchasing PLS
To participate in the 1Swap ecosystem, users must first acquire PLS tokens. The following methods provide convenient ways to obtain PLS:
2.1 Using ChangeNow
ChangeNow offers a user-friendly platform for purchasing PLS with ease. Users can follow the intuitive process on the platform to acquire PLS tokens.
2.2 Bridging with bridge.pulsechain.com
For a more direct approach, users can utilize the official bridge.pulsechain.com to bridge their assets and acquire PLS on the PulseChain network.
3. Acquiring $ONE on PulseX
3.1 Visiting app.PulseX.com
To obtain $ONE tokens, users can seamlessly navigate to app.PulseX.com, the official platform for PulseX. PulseX serves as the decentralized exchange on the PulseChain network, offering a secure and efficient environment for trading various tokens.
3.2 Purchasing $ONE Tokens
Once on the PulseX platform, users can follow these steps to acquire $ONE tokens:
Connecting Wallet: Users will have to connect their wallet to the PulseX exchange
Finding the $ONE Contract: Locate the official $ONE contract by heading to the Contracts page. This can be manually found on the left hand side of our GitBook.
Placing the Swap: Users can place buy orders for $ONE by specifying the amount of tokens they wish to purchase.
Confirm Transaction: Confirm the transaction in the wallet to execute the trade. The platform will handle the order execution process.
Check Wallet Balance: Once the transaction is completed, users can check their wallet balance to ensure the successful acquisition of $ONE tokens.
4. Building Thick Liquidity
To establish a robust foundation for the 1Swap ecosystem, building thick liquidity is paramount. This involves strategic initiatives during the initial phase of our farm launch.
4.1 Native Only Farm for the First 12 Hours
In the first 12 hours of the farm launch, 1Swap will host a Native Only Farm. This unique approach aims to concentrate liquidity on the native pairs, fostering a strong and liquid market. During this period, users can exclusively participate in farming their native native LP tokens, enhancing the native liquidity pool.
Benefits of the Native Only Farm:
Increased Liquidity: Concentrating liquidity on native tokens enhances their liquidity, providing a solid foundation for the entire ecosystem.
Fair Distribution: The Native Only Farm ensures a fair and equal opportunity for all participants to engage in farming during the initial phase.
5. Non-Native Pools and Farms
Diversification and inclusivity are crucial components of the 1Swap ecosystem. To achieve this, non-native pools and farms are introduced, providing users with opportunities to engage with a variety of tokens beyond the native ones.
5.1 Unlocking with a 4% Deposit Fee
Non-native pools and farms on 1Swap come with a 4% deposit fee. This fee serves multiple purposes:
Purpose of the 4% Deposit Fee:
Sustainability: The deposit fee contributes to the sustainability of the platform by generating a revenue stream that can be utilized for various ecosystem enhancements.
Buyback Mechanism: A portion of the deposit fee is allocated to a buyback fund. This fund is used to repurchase native tokens, injecting liquidity and capital back into the native token.
Deterrent to Speculation: The deposit fee acts as a deterrent to speculative trading, encouraging users to contribute to the platform for more than short-term gains.
5.2 Buyback Mechanism for Native Tokens
The buyback mechanism plays a crucial role in maintaining liquidity and value for native tokens within the 1Swap ecosystem. Here's how the buyback mechanism works:
How the Buyback Mechanism Works:
Accumulation of Funds: The 4% deposit fee from non-native pools and farms accumulates in a buyback fund.
Regular Buyback Events: Periodically, the accumulated funds are used to conduct buyback events for native tokens on the market.
Market Liquidity: The repurchased native tokens are injected back into the market, enhancing liquidity and supporting the value of native tokens.
Community Benefit: The buyback mechanism benefits the entire community by ensuring a healthy and liquid market for native tokens.
6. Referral Program
To encourage community growth and participation, 1Swap introduces a temporary referral program designed to provide attractive rewards for users who actively contribute to the platform.
6.1 25% Referral Reward
During the first week following the protocol launch, 1Swap's referral program offers an enticing 25% referral reward. This means that users who refer others to the platform will benefit from a referral fee of 25% from the 4% deposit fee on eligible transactions. This elevated reward structure is a limited-time opportunity to kickstart community engagement and incentivize early adoption.
Benefits of the Temporary Referral Program:
Rapid Community Expansion: The increased referral fee acts as a catalyst for rapid community growth during the initial phase of the platform.
Incentivized Participation: Users are motivated to actively promote and engage with the 1Swap platform, fostering a lively and vibrant community.
Early Adopter Advantage: Early adopters can capitalize on higher referral rewards, creating a competitive advantage for those who join the platform early.
6.2 Ensuring Sustainability in the Platform
While the temporary referral program provides immediate benefits, sustainability is a core consideration for 1Swap. To ensure the long-term viability of the platform, the following measures are implemented:
Sustainability Measures:
Referral Fee Adjustment: After the initial week, the referral fee is removed. This adjustment is essential to prevent excessive reliance on referral rewards.
Community Building: The focus shifts towards fostering organic community growth and engagement, with ongoing initiatives to attract users based on the platform's intrinsic value.
Balanced Incentives: Ensuring a balance between attracting new users and rewarding existing ones is crucial for maintaining a healthy and sustainable ecosystem.
By implementing a temporary referral program, 1Swap aims to achieve a harmonious balance between incentivizing growth and ensuring the long-term sustainability of the platform.
7. Single-Sided-Staking with SparkSwap Sparkler-like System
Single-sided staking is a key feature of the 1Swap platform, providing users with an opportunity to lock native tokens and earn rewards in the form of LP (Liquidity Provider) tokens. This mechanism incorporates a SparkSwap Sparkler-like system to enhance user incentives.
7.1 Earning LP Tokens Until Unlock
The SparkSwap Sparkler-like system enhances the single-sided-staking experience:
Features of the Sparkler-like System:
Continuous Rewards: The Sparkler-like system ensures that stakers receive continuous rewards in the form of LP tokens throughout the entire locking period.
Dynamic Rewards: Rewards may vary based on factors such as the duration of the lock and the amount of native tokens staked. Longer lock periods and larger stakes may result in higher rewards.
Incentive Alignment: The system aligns incentives by rewarding users for contributing to the platform and participating in the long-term growth and sustainability of the ecosystem.
7.2 Benefits of Single-Sided-Staking with Sparkler-like System
Rewarding Loyalty: Users are incentivized to lock native tokens for an extended period, fostering loyalty and commitment to the 1Swap platform.
Dynamic Rewards: The Sparkler-like system ensures that rewards remain dynamic, reflecting various factors and providing a fair distribution mechanism.
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