Hello dear Suinami! The New Year holidays have come to an end, and we want to present you with renewed vigor a new project, which is part of the Sui ecosystem.
WispSwap positions itself as Decentralized Exchange Built For Everyone. Let's try to figure it out whether this project is really worth our attention!
The first thing that WispSwap promises us is to provide a low commission compared to other DEXs. This will happen through four crucial components, such as:
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Concentrated Liquidity Market Maker (CLMM) – providing a large depth of liquidity pool while spending little capital;
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An insurance pool from Impermanent Loss (IL) where liquidity providers receive 2% as coverage per day;
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Decentralized Limit Order Book (DLOB) – is the order book of centralized exchanges we used to know, but in a decentralized manner. It results in much faster order execution speed, while many scalable liquidity paths are achieved;
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Decentralized Autonomous Organization (DAO) – launch of the $WISP token, and creation of decentralized governance of the platform by active users.
Why SUI?
As the creators of WispSwap assure us, they chose SUI because of the reputation of the team (Meta, Diem) & the advantage of parallelizing transactions, what allows them to achieve incredible order execution speed and scaling. The gas fee, which will be fixed every epoch, i.e. 24 hours, is the icing on the cake.
Separately, it is worth adding a few words about the Wisp-Prediction function. We’ve seen something similar in protocols like PancakeSwap and others. It’s something of risky derivatives itself, so please be aware before gambling.
Roadmap
At the end of December WispSwap posted their roadmap, consisting of four main stages:
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Preparatory – includes testing and feedback from the community;
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Launch Phase – deploy WispSwap on the Sui mainnet, basic TRADE, FARM and STAKE functions;
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Build Phase – add DLOB, update existing features, community voting & various API;
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Expansion phase – add fully conceived functionality, including lending.
Focus on community
The team focuses on communication with the community. According to them – your interests are their priority.
There is no info about potential rewards yet, but there is an active CREW3 PROGRAM which might help you become eligible for something in the future.
The competition in the field of DEXs on the SUI blockchain is quite tough. However, WispSwap has a good chance to succeed if they implement their main features, really listen to the community and act even to the detriment of their own potential profit for the sake of users, which is quite rare in the crypto world.
Official resources of WispSwap:
Thanks for your time! We invite you to join our Discord and subscribe Twitter to stay in touch and discuss related topics. And simply have fun ;)
Article prepared by CryptoBelka – team member of Sui Ecosystem.