Thursday, June 17, 2021

Minswap, First Integration of DEX Smart Contract On Cardano Has Been Launched

Minswap, the first integration of decentralized exchange (DEX) smart contract on the Cardano blockchain has been launched. According to the roadmap, the DEX is still in the stage of Fundraising, Constant-Product Pool, and Testnet.

In the third quarter of 2021, Minswap will be launched on mainnet. Also, Cardano is expected to have welcomed smart contract functionality within that period. In Q3, the DEX will also welcome Security Audit, Liquidity Mining, Initial DEX Offering (IDO), and Initial Farm Offering (IFO).

Read Also: Cardano Is Set To Provide Tools for Developers, End Users, Businesses to Execute Smart Contracts

Stable Pool is planned for the fourth quarter of 2021. While the last stage of its development is scheduled to come in the first quarter of 2022, with the arrival of Decentralized Autonomous Organization (DAO) and Community Governance.

Frequently Asked Questions (FAQ) Shared By the Minswap Team

How do I buy MIN Token?

MIN token does not have any pre-sale or ICO. The only way to acquire MIN token is by participating in the protocol or trading it directly on MinSwap. There will be airdrop however.

Read Also: Charles Hoskinson: Cardano (ADA) Wants To Incentivize Running Sidechains with Inflation

Will there be an airdrop and what is the condition?

Yes, there will be an airdrop on MIN token launch day. The condition is undisclosed at the moment.

Is the code open-sourced?

Yes, most of the code is open-sourced on Github. The smart contract code is private and will be open-sourced once it is fully audited and released on mainnet.

Is there any restriction on the development funds?

Yes, there will be multi-sig and withdrawal limit. So it will take most of the dev team and a long period of time to fully drain the funds.

What does Mip-1 in the whitepaper mean?

MIP stands for MinSwap Improvement Proposal, similar to BIP and EIP. MinSwap is a community-oriented project from the start and new changes will be proposed and discussed with our community via MIP process.

Read Also: Cardano Nominated For Blockchain Solution of the Year by AIBC Awards

How does Minswap delegate locked ADA?

20% of locked ADA is delegated to stake pools that haven’t produce any block to help the SPOs mint their first block. The rest is delegated to small-to-medium community pools to encourage decentralization and make sure LPs earn stake rewards on top of trade fees. The delegation policy parameters can later be voted to change by the DAO.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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