As excited as we are for our progress so far, we’re even more excited about what’s to come. Our roadmap outlines our ambitious vision, as we work on delivering amazing features to our community. With all of these new features, we also plan to add a lot more value to our governance token NETT.
- Builder Mining Rewards Giveback Plan (Live Now)
One of the core elements of our partner Metis’ business model is its Builder Mining program, in which Metis shares 30% of the transaction revenue it collects every month with its partners (including Netswap). As a community-driven project, our team decided not to put those Metis rewards into our own pockets. Instead, we’re sharing them with the Netswap community, through our newly launched Giveback Plan.
Step 1: 50% of the METIS rewards that we accrue from the Metis Builder Mining program will be placed into the Netswap Staking program, with the community able to stake NETT tokens at https://netswap.io/#/stake and earn METIS rewards.
Step 2: 40% of the METIS rewards shall be directed to the Netswap Farm. The top three pairs by trading volume will be added to our 2x Reward Farm category, meaning that liquidity providers will receive both METIS and NETT rewards!
Step 3: The remaining 10% of the METIS rewards are Reserved assets. The Netswap team will consider giving these out as airdrop rewards for participants in other Netswap programs (such as successfully purchasing IDO allocations on the brand new Netswap Launchpad).
As the first native DEX on Andromeda, we have frequent, deep, impactful interactions with the Metis community. We understand that what drives Netswap is also what drives Metis. We’re happy to have the Metis community get more engaged in the building of our community and ecosystem, and to share our builder mining rewards with them!
- Trading Competition (Live Now)
Netswap plans to hold trading competitions throughout the year. By trading certain pairs and getting a certain rank, participants will be able to share huge token rewards.
The first Trading Competition is coming very soon in early March, and detailed rules will be announced with it. To encourage more users to participate, there’re no restrictions/thresholds for our first trading competition, anyone can participate by swapping certain trading pairs, and their addresses will be ranked automatically by the system. But for future trading competitions, we might set some conditions for participation, such as staking a certain amount of NETT tokens.
The purpose of holding the trading competitions is to boost liquidity and trading volume, and the rewards won’t be limited to NETT/METIS tokens. Meanwhile, liquidity providers will share 0.25% transaction fee rewards. Another benefit: with increased trading volume, LPs will get better APRs.
The Trading Competition is also internally connected with our Builder Mining Rewards Giveback Plan. By increasing trading volume, Netswap will get more builder mining rewards from the Metis team, which will all be given back to the community.
- Launchpad Upgrade
Netswap plans to upgrade our Launchpad module. By building an in-depth connection between the launchpad and our NETT token, we’ll inject more value into the NETT token, and provide a much more effective way to help projects start on Andromeda and develop their value.
The upgrade of our launchpad won’t be finished immediately, but we’ll be reviewing all of our previous experiences and learning from other successful launchpad projects to improve Netswap Launchpad functionalities step by step. As the first upgrade, in the next IDO event, we’ll provide a more user-friendly and efficient UI interface, shorten the IDO timeline to reduce users’ opportunity cost, provide a better token sale model, consider more incentives for those who participate in the token sale, and more.
- UI Upgrade
Netswap is dedicated to providing users a more friendly UI interaction. Our new interface will be more efficient and comfortable for all kinds of users.
During the UI upgrade, we will make sure that Netswap has its unique, clear, and elegant aesthetic, as well as being easy to use. We believe that a great UI is an important part of any great blockchain project, and we expect our UI upgrade to generate more interest in Netswap’s DEX, Launchpad, and other features.
- Limit Orders
Netswap understands the importance of liquidity for project tokens, as it’s always difficult for new projects to build large liquidity for their tokens at the beginning. Limit Orders can be a great solution to this challenge, while also providing a better trading experience for users.
AMM is an amazing and highly effective model for DEXes, but that model also carries some inconveniences compared with CEXes. Netswap’s Limit Order model replicates one of the most valuable features found in CEXes, enabling traders to have a more efficient and easier trading experience. The transaction fees for Limit Orders will further empower the NETT token.
- Prediction Market
As Vitalik has discussed, there’s a lot of value waiting to be unlocked in Prediction Markets for crypto. Netswap is happy to explore this market. Our team is designing prediction markets with a gamified twist. We’re excited to attract lots of new users to our platform through our future prediction markets, while providing amazing rewards.
- NFT Marketplace
Netswap is aware of the importance of NFTs in the Web 3.0 world, and we believe that an NFT Marketplace will help Netswap become the primary choice for more users entering the Web3 world through the Metis ecosystem.
As things stand, most NFTs are minted and traded on Ethereum Layer 1, resulting in high transaction fees and slower processing times. Powered by the blazing speed and low costs of the Andromeda Layer 2 network, Netswap NFT marketplace users will be able to mint and trade NFTs with a much more enjoyable experience.
Netswap is developing a fair and transparent on-chain lottery system to provide NETT users with lots of fun lottery games and incentives, while injecting still more value into the NETT token. We see this lottery feature as a great way to bridge the gap between Web2 and Web3, as well as DeFi 1.0 and 2.0.
- Leverage Swap
The Leverage Swap function was part of our original vision when we formed a joint venture with fellow DEX WOWswap. With the development of Netswap, we’re working on a more secure and efficient leveraged trading system. Stay tuned!
With the recent emission reduction of NETT, NETT governance will play a much more important role in Netswap ecosystem. A strong, efficient, and secure governance system is one of our biggest areas of focus for the rest of 2022.
To make sure this governance is supported by positive growth, the release of our governance model will be determined by the dynamic condition of Netswap functionality upgrades, community growth, and market situation. At present, Netswap’s functionality upgrades are still in progress and we’re still working on community building while the crypto market goes through its current stage of volatility. While we have tentatively scheduled the release of our governance model for Q4, it’s quite possible that it will be ready sooner, depending on how all of these factors shake out.
At Netswap, we see a pluralistic future. We’re building on the strengths of the AMM model, and addressing its weaknesses. We’re building a solid infrastructure on Andromeda to support Web 3.0 and the huge, thriving economies of the Metisverse. Our journey is just getting started.