With the goal of diversifying the ecosystem, ONUS Chain has implemented the integration of decentralized applications of different fields into the network.
In order to bring an easy and simple experience to the community when participating in the DeFi space, MiaSwap – The first decentralized exchange in the ONUS Chain ecosystem was officially launched.
MiaSwap features
MiaSwap provides the basic features of a decentralized exchange, including:
1. Swap
With this feature, users can trade and exchange assets easily and quickly. When a user makes a transaction, a 0.25% fee will be applied and distributed as follows:
- 0.05% is used as the reward for Liquidity Providers
- 0.05% is used as collateral for USDO
- 0.12% is used to buy back and burn MIA
- 0.03% is transferred to the treasury
2. Liquidity
Users add holdings to liquidity pools to get back the transaction fees and LP tokens of the pool provided with liquidity.
Example: Those who add ONUS and MIA to the liquidity pool will receive back WONUS-MIA LP tokens. Besides, 0.05% of the ONUS-MIA swap transaction fee will also be used as the reward for all ONUS-MIA liquidity providers.
3. Farm
This feature allows users to stake LP tokens to receive the reward of MIA, thereby increasing passive income with an attractive APR.
The APR level will represent the amount of MIA users receive when staking LP tokens and is calculated at the current rate. The Farm feature encourages users to provide liquidity for trading pairs, thereby ensuring ample liquidity and reasonable transaction costs for everyone.
4. Mining Pools
With Mining Pools, users can stake MIA and ONUS to get other assets in return. By staking the MIA received from Yield Farm, investors can maximize profits from the liquidity provision.
With the above features, users can easily trade assets, generate passive income and experience a complete DeFi space.
About MiaSwap Token (MIA)
MIA is the native token of the MiaSwap, and is used to:
- Add liquidity
- As a reward for liquidity providers
- Stake and get rewarded with other assets
The amount of MIA awarded will be divided according to the ratio available on the Farm pairs. For example, the WONUS-MIA Farm pair will receive 40% of the MIA tokens used as the reward and the USDO-MIA pair will receive 10%.
MIA is designed with a mechanism to have the daily burn rate slightly higher than the daily mint rate. This means the token is targeted to be slightly deflationary. This allows the price to rise, which in turn increases the incentive to stake and farm for more pairs and draw in even more users who want to swap different coins.
Specifications:
- Name: MiaSwap Token
- Symbol: MIA
- Platform: ONUS Chain
- Token type: Utility
About the team
MiaSwap is developed and operated by an anonymous team of programmers and experts with years of experience building blockchain products on different platforms. The team is supported by the ONUS Foundation and the ONUS Grants program.
MiaSwap is currently in the Testnet version and will officially go live when ONUS Chain announces the Mainnet, expected in early November. Users can now experience MiaSwap here: https://miaswap.io/swap /
Join MiaSwap Community: https://t.me/miaswap_global
Join the ONUS Chain community: https://t.me/onuschain_global
