As the core product offered by HeliSwap, the HeliSwap DEX allows users to conduct token swaps of all manner between ERC-20, HTS and HBAR tokens. Currently, connecting with a Hashpack wallet is required to trade on HeliSwap, and only tokens that have sufficient liquidity in their liquidity pools can be swapped.
HeliSwap operates as an automated market maker (AMM), which means that digital assets can be traded in an automatic and permissionless manner. This is possible through the use of liquidity pools that allow anyone to supply liquidity and earn transaction fees.
Simply put, a liquidity pool is a smart contract designed to hold the tokens included in a trading pair and facilitate swaps between those tokens.
When liquidity is provided, depositors receive a liquidity pool token (LP token) that represents their portion of the existing liquidity in the pool. LP tokens are required in order to redeem the original deposit along with any rewards earned from trading fees.
Yield Farms are offered as an extra incentive to liquidity providers. To earn extra rewards, all providers need to do is deposit their LP tokens in a yield farm, sit back, and wait for the passive income to roll in.
As an added bonus, HeliSwap offers a multi-tiered reward structure in which each Yield Farm will also reward users with HBAR and OM tokens as a reward for being an early adopter. These rewards vary by yield farm.
After launching our very own HELI token through the lockdrop, we have proven the concept to the community - and we do not want to stop here. As a DEX we want to be a facilitator and help other projects launch their tokens through a community driven, decentralized lockdrop launch with a natural price discovery. If you are a project looking to leverage this approach, then get in touch with us: [email protected]
We have built a feature that allows anyone to reward their users for certain actions. Through our Claimdrop feature, other projects can also reward their community in a hassle free and easy way. While we now started with our own Claimdrops, other projects are invited to leverage the feature. Contact us at: [email protected]