The competition within the Sui ecosystem has become dramatic. It’s a pleasure to see many talented teams building their products and expanding the whole network.
Bay Swap is in front of us today.
About Bay Swap
Bay Swap is a decentralized exchange built on Sui with a focus on cost optimization & high transaction throughput. It offers yield farming, efficient transaction fees, multiple liquidity curves, low slippage, and a fast, secure & user-friendly interface.
Core Concepts & Principals
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Community First
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Innovation-Driven
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Permissionless Launchpool
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Yield Farming
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Efficient Transaction Fees
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Multiple Liquidity Curves
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Fast & secure UX/UI
BaySwap uses multiple liquidity curves, including a constant product formula and a stablecoin curve, to ensure liquidity remains constant while avoiding high slippage for stablecoin swaps.
Yield Farming on Bay Swap
Yield farming on BaySwap involves providing liquidity for any pair on the platform and receiving LP Tokens in return. LPs can be staked to earn rewards, which are calculated every second, and withdrawn at any time. If additional LPs are added to a farm, pending rewards are automatically sent, and new rewards are earned based on the new LP amount.
Devnet Release
Currently, you can try the protocol by yourself: https://app.bayswap.io/.
As per our impression, everything works pretty fine & smoothly. We wish the same for the mainnet release!
Liquidity Bootstrapping Event
The team aims to launch its token through LBE. A Liquidity Bootstrapping Event is a mechanism to launch new tokens by eliminating bot manipulations and creating a fair launch for all investors. The mechanism adjusts the weight of the two tokens in the pool to create a high initial price with minimal up-front capital. Over time, the weight is programmatically adjusted to lower the price slowly, elongating the price discovery period and allowing investors to buy at a fair price.
Interesting fact – 70% of the whole supply is dedicated to yield farming, and 2.5% to the airdrop. Farmooors, ain’t it for you?
Afterwords
Once again, we don’t want you to rely on ours or anybody’s else opinion. Try it yourself and think, “Is it something I‘d like to use in the future?”
Official resources of Bay Swap:
Thanks for your time! We invite you to join our Discord & subscribe Twitter & Lens to stay in touch and discuss related topics. And simply have fun ;)
Article prepared by CryptoBelka – a team member of Sui Ecosystem.