About MiaSwap
MiaSwap is developed and operated by an anonymous team of programmers and experts with many years of experience building blockchain products on different platforms. The team is supported by the ONUS Foundation and the ONUS Grants program.
MiaSwap provides the basic features of a decentralized exchange (DEX), including:
- Swap
Trading on MiaSwap is very simple, there will be no confusing charts or tools for you to find difficult. 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 a reward for those who provide liquidity
- 0.05% is used as collateral for USDO
- 0.12% is used to redeem and burn MIA
- 0.03% is transferred to the stockpile
- Liquidity (Provides 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 provide ONUS and MIA to the liquidity pool will receive back WONUS-MIA LP tokens. Besides, 0.05% ONUS-MIA swap transaction fee will also be used as a reward for all participants who provide liquidity to the ONUS-MIA pool.
- Yield Farm
MiaSwap Yield Farms is mainly to encourage users also to provide liquidity to DeFi projects, thereby ensuring ample liquidity and reasonable transaction costs for everyone.
This feature allows users to stake LP tokens in MiaSwap Yield Farm to increase monetization through the reward of MIA tokens with 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 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 a reward and the USDO-MIA pair will receive 10%.
- 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 providers.
With the above features, users can easily trade assets, generate passive income, and experience a complete DeFi space.
About MIA Token
MIA is the main token of the MiaSwap platform, used to:
- Provide liquidity
- As rewards for those who provide liquidity.
- Stake and provide rewards to the Farming Pool.
People can earn MIA from Yield Farm and Mining Pools or buy on exchange to explore features on MiaSwap.
Initially, MiaSwap will have a supply of 5,250,000 MIA. 5,000,000 MIA will be opened for sale on Launchpad on ONUS and 250,000 MIA for Marketing purposes.
Daily, 115,200 MIA will be minted for Reward. The remaining amount of MIA will be continuously burned daily by:
- The maximum MIA minted per block will be locked in the contract.
- The Mia Swap team always controls the actual amount of MIA in circulation every day
- It is possible to adjust the circulation of MIA in case of necessity such as reducing the burning rate to increase the supply or vice versa.
The daily amount of MIA Reward will be distributed as follows:
- 57,000 MIA for Farming Pools
- 50,400 MIA for Staking Pools
- 7,200 MIA for Mint Free
MIA’s price-holding mechanism
Suppose, with an MIA of $0.04 and 115,200 MIA being minted daily, MiaSwap needs to burn 115,200*0.04 = $4,600 to stabilize the MIA price. The amount of MIA minted will be put into farming pools and staking by users with attractive APY levels. Thus, the actual volume to be burned will be less than 4,600 USD, say 50% (because the remaining 50% has been put into pools) will correspond to 2,300 USD. To burn this amount of MIA, MiaSwap will need to reach a minimum trading volume of 2,300/0.12% = $1.9 million in trading volume (0.12% is part of the transaction fee to buy back and burn the MIA). This number is feasible to achieve 1 time after the MiaSwap launch. When the trading volume exceeds the required amount, MiaSwap will buy back and burn more MIA than mint. It is the basis for increasing the value of the MIA token in the future.
Currently, there is no Hard Cap on MIA tokens, and MiaSwap always aims to have a high daily burn rate. That makes MIA a deflationary and value-added token, thereby incentivizing users to participate in Farming and Staking and providing liquidity for MiaSwap.
Specifications
- Token Name: MiaSwap Token
- Symbol: MIA
- Platform: ONUS Chain
- Token Type: Utility
- Initial total supply: 5,250,000 MIA
