The Journal Wire/ October 06-2022/ WhiteSwap, a decentralized exchange that enables users to change contract code through self-governance has announced that the Polygon network was added to the platform. Previously, the exchange only worked with Ethereum and Tron.
This decision will speed up the transaction time and reduce its cost. In addition, with the connection to the Polygon network, WhiteSwap will be able to collaborate with blockchain projects whose tokens are made on Polygon.
The WhiteSwap team also promises to increase TVL and the number of liquidity pairs.
It was previously reported that the WhiteBIT cryptocurrency exchange has launched WhiteSwap, a decentralized exchange (DEX) on Ethereum. WhiteSwap aims to improve decentralized exchanges by giving the community full control over the protocol, as well as access to new networks and the creation of farming pools.
For reference:
WhiteBIT is the largest European cryptocurrency exchange, which is used by more than 2.5 million customers. The platform is a leader in Ukraine and meets all the KYC and AML requirements.
As of today, WhiteBIT has an AAA rating and is one of the Top 2 most secure exchanges worldwide based on an independent Hacken audit.
Thanks to the advanced technologies, WhiteBIT guarantees fast deposits and withdrawals via Visa and Mastercard, as well as through partner payment systems. At the same time, no fee is charged for deposits via monobank cards.
WhiteSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain, forked from Uniswap V2. The decentralization of Uniswap V2 has been publicly called into question, especially since Uniswap’s team and investor funds have no lockup or vesting schedule. In contrast to Uniswap, WhiteSwap governance tokens (WSD) are locked on smart contracts and will be released into circulation over time (see the “WSD Token Details” section for allocation and vesting schedule).
From the start, WhiteSwap’s smart contract code may be upgraded by a governance vote. To enhance functionality, WhiteSwap is also planning to implement a cross-chain solution (likely via Polkadot) as soon as possible.
Governance
WSD holders will have immediate ownership of:
- WhiteSwap governance (implements updates for the protocol functionality)
- WSD community treasury
- Share of generated trading fees
- WhiteSwap Default Tokens List
Initial governance parameters are as follows:
- 0.5% of WSD total supply (delegated) to submit a governance proposal
- 4% of WSD supply required to vote ’yes’ to reach quorum
- 7-day voting period
- 2-day timelock delay on execution
WhiteSwap Governance Discourse Portal
WhiteSwap Governance Voting Portal
WSD Token Details
WSD token contract address: 0x97a527283C6C6E6b9D82fdC720496B8873EC86a0
21 million WSD have been minted at the genesis and will become accessible over the course of four years.
Media Contact
Name: Liubov Perlyna
Twitter: https://twitter.com/WhiteBit
Telegram: https://t.me/WhiteBITua
Address: 58, 2/F, Beverley, Commercial Centre, 87-105, Chatham Road South, Tsim Sha T, Hong Kong