# Introduction
Welcome to Netswap
#### Your one-stop exchange platform for DeFi on Metis
Welcome to the premier DeFi exchange platform runs on Metis Andromeda(Layer2).
## Features on Netswap
Netswap builds on the frontier of DeFi, providing users with an innovative and unique trading experience that is seamless, accessible and empowering.
Maximise your yield generating activities on the premier and market leading multi-functional Decentralised Trading Platform. Exclusive to the Metis Andromeda(Layer2).
### Swap:coin:
Fast and cheap token swaps with our automated market maker (AMM) exchange (Forked from UniswapV2)
### Pool:ocean:
Providing liquidity and earn 0.25% swap fee on all trades proportional to the share of the pool.
### Farm:pick:
Also known as liquidity mining, deposit your liquidity pools tokens into farms and earn bonus rewards.
### Stake:sushi:
Stake your NETT token to earn different incentives or more exotic tokens.
### Launchpad:airplane:
Stake your NETT to accrue wNETT to participate in exclusive launch events for newly issued tokens.
> ### Your journey on Metis, starts with Netswap.
# Swap
Trading
A decentralized exchange is where you can swap one token for another. There are thousands of cryptocurrencies on the Metis Andromeda(Layer2) and using Netswap(DEX), you can discover and swap them with as little as one click.
To Trade Metis, NETT, stablecoins or other cryptocurrency tokens simply select the two tokens you wish to exchange using the swap panel on the swap page.
When you make a token swap (trade) on the exchange you will pay a 0.3**% trading fee**, which is broken down as follows:
**0.25%** - Paid to liquidity pools in the form of a trading fee for liquidity providers.
**0.05%** - Sent to the treasury of Netswap team.
# Tutorial
### How to swap tokens: Guide
Follow the step-by-step guide below.
1. Go to the Swap page.
2. Connect your wallet if needed.
3\. Select the token you would like to trade.
4\. Once you have selected tokens to swap, enter the quantity to trade and press 'Swap'.
{% hint style="info" %}
If the token you are trading has a reflect element, you may need to increase slippage.
{% endhint %}
5\. Your wallet will pop up asking for confirmation to swap, press confirm.
6\. Once confirmed in your wallet, you will see a 'Transaction Submitted' pop up and after a few seconds, your trade should be completed!
### Increasing slippage to swap
Some tokens may have a 'Reflect' element to them. This simply means there is a type of transaction tax when trading those tokens. That is part of the token design and not a feature of the Netswap.
Reflects on a token typically range between 5% to 20%. Some even higher.
To swap these kind of tokens, you need to increase your slippage, do this by clicking this button.
### Transactions Getting Stuck?
Metis Andromeda moves too fast... and MetaMask can often get stuck because of it.
Follow this simple guide so you can get back to trading: [Reset Metamask](https://metamask.zendesk.com/hc/en-us/articles/4556918516763-How-to-reset-your-wallet#h_01FXJ8P07CG8H4A8A9GK0X0EKA)
# Pool
Liquidity pools
### How does a liquidity pool work?
Netswap charges 0.3% fee for all trades, of which **0.25%** is added to the **liquidity pool** of the token pair that was traded on.
A **liquidity pool** (LP) is a pool of two tokens, e.g. Metis and NETT tokens. This pool is what allows users to exchange between the two tokens automatically.
Users can earn a share of the trading fees by depositing a pair of tokens into the LP (also known as "adding liquidity"). Users will receive an LP token, representing their share of the LP.
### Pool APR
Pool APR is the yield you accrue by adding liquidity to a Pool. You earn **0.25%** of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed when you withdraw your Liquidity.
{% hint style="success" %}
Your share of the Trading Fees will be accrued in real-time and will be paid on top of your existing position when you exit the liquidity pool
{% endhint %}
Providing liquidity is not without risk, as you may be exposed to *impermanent loss (IL).*
[“Simply put, impermanent loss is the difference between holding tokens in an AMM and holding them in your wallet.” - Nate Hindman](https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22?gi=d20ff5b44e52)
If the prices of the two tokens revert back to the same prices when you added liquidity, you won't suffer any IL.
### Tutorial: How to add liquidity to a pool?
1. Grab your tokens and head to the Pool page
2. Find the desired pool by using the page filters and/or typing in the tokens you wish to deposit, eg 'NETT' or 'Metis'.
3\. Once you have selected the correct pool, you will see the Pool page.
4\. Here, you can add tokens and also amend slippage if necessary.
5\. Once you add in tokens, you'll have to approve in your Metamask + then deposit the tokens.
6\. Done, you are now earning your share of trading fees generated by the pool!
{% hint style="success" %}
In return for depositing tokens to a tool, you will receive a 'NLP Token' you might be able to use this token in one of our farms to earn extra yield (on top of the trading fees) in the form of $NETT Tokens.
{% endhint %}
### Impermanent Loss (IL)
Providing liquidity to a pool, does come with the risk of impermanent loss.
#### So what is Impermanent Loss?
Impermanent Loss occurs when the price ratio of the supplied token pair changes. As a simple rule, the more volatile the assets are in the pool, the more likely it is that you can be exposed to impermanent loss. As the AMM dictates that the total liquidity must remain the same, the ratio is readjusted in order to establish an equilibrium.
The 'impermanent' part of IL is an apt description, as the value of the token may yet return to its initial price if it is left in the pool. If the price realigns, then the IL no longer exists, however, if the investor withdraws their funds from the liquidity pool, then the loss is realized fully.
* Impermanent loss is caused by a bidirectional change in value of either one or both tokens within a pair.
* The more volatile the underlying tokens are in the pool, the more likely you are to experience Impermanent Loss
* Impermanent Loss is not permanent and is only realized when you withdraw from a Liquidity Pool.
# Farm
Yield farming
### What is yield farming?
Yield Farming is the process of using DeFi protocols to generate interest on your cryptocurrency assets. There are various forms of yield farming, such as providing liquidity, staking or lending and each option comes with different user considerations before participating. For the purposes of this page, we will focus on yield farming via providing liquidity.
### Benefits of Yield Farming
* Yield farming can be a lucrative way to earn extra rewards, such as trading fees or tokens
* Improve your assets capital efficiency by utilizing idle tokens sitting in your wallet
* By yield farming you are also supporting the DeFi ecosystem you are participating in
### Farm Rewards
| Farm | Rewards |
| -------------------- | ------------------------------------------- |
| Normal farms | Single: NETT |
| Double rewards farms | Double rewards: NETT + Token x |
| Boost farms | Extra NETT Rewards if you stake into veNETT |
{% hint style="info" %}
Direct to "[How to migrate LP to Boost Farms](/use-guide/farm/how-to-migrate-lp-to-boost-farms)".
{% endhint %}
### How to earn NETT token rewards through yield farming
* Connect and confirm your wallet
* Locate the farm you wish to deposit your LP
* You are now viewing the 'Farm' page
* This contains the Farm details including Liquidity, Pool APR, NETT APR, and bonus APR
* If you don’t have LP tokens yet, select 'Get xxx - xxx NLP'
* This will take you to the token-pair’s liquidity pool eg (Metis+NETT)
* Once you have supplied tokens into the pool and received your LP tokens, return to the farm
* On the middle section of expanded panel, enter the amount of LP tokens you wish to stake
* Press Approve or Stake (or both) and confirm the transaction in your wallet
* Congratulations, you are now earning Farm rewards!
### **How to Harvest Rewards**
* You can harvest farm rewards at anytime
* Simply press the Harvest button and any pending rewards will be added to your wallet.
* Any bonus rewards accrued, will be held in the smart contract waiting for you to harvest
### Types of Rewards
* LP APR: Fees collected by liquidity pools, paid on top of your position when you withdraw
* NETT APR: NETT Tokens that can be collected by pressing harvest
* Bonus APR: Bonus reward tokens that can also be claimed by pressing harvest
# How to migrate LP to Boost Farms
A tutorial for users who staked their LP in normal farms
If you have staked your LP tokens into normal farms, after you claim some veNETT into your wallet, it only takes few steps to migrate LP tokens to Boost Farms to get a better yield farming.
Step 1: Select the non-boost farm you staked
Step 2: Click into the farm detail page and then unstake all of your LP tokens
Step 3: Select the boost farm you want to join
Step 4: Click into the farm detail page and then stake your LP tokens to get boost rewards with holding veNETT!
# Netswap Liquidity Mining Emission Reduction Plan #3
Executed
Details can be checked on: [`Voting Page`](https://vote.netswap.io/#/proposal/0x1d6236218f650519ef1e7f5b95c8c44e346dc45feae3e8f3fc709a6f184cacd5)
After this reduction, there will be only 4,500 NETT emitted per day until reaching the max supply.
# Netswap Liquidity Mining Emission Reduction Plan #2
Executed
Details can be checked on: [`Voting Page`](https://vote.netswap.io/#/proposal/0x1e26bfb8e985f227ce200886a1e66a2f55734ed9833b260b8253b3556097e562)
Until this emissions reduction, the circulation supply of NETT is around 5,161,068, after reduction, there will be only 9,000 NETT emitted per day until reaching the max supply.
# Netswap Liquidity Mining Emission Reduction Plan #1
Executed
According to Market data and suggestions from our community, Netswap team is releasing the $NETT Liquidity Mining ($NETT Farming) Emission Reduction Plan.
## Purpose of this emission reduction and future distribution plan:
Based on our research on DeFi and other DEXes, Netswap followed Uniswap’s strategy in which 0.3% transaction fee is charged from each swap, and 5/6 of this transaction fee is distributed to liquidity providers. Even though there’s currently no liquidity incentives on Uniswap, it’s still the pacemaker among many DEXes (according to liquidity and trading volume), which also demonstrates that the development of Netswap will not be affected by a reduction of $NETT liquidity mining incentives. Therefore, Netswap team decided to continue to follow Uniswap’s way of success, and the first step is the $NETT emission reduction plan. We decided to reduce the $NETT liquidity mining emission of the first year to 10%. This emission reduction plan will also amplify the value and usability of $NETT as Netswap’s governance token, and further emission reduction plans cannot be ruled out in the future.
The original intention of Netswap is to become an infrastructure to incentivize and promote Metis ecosystem. Due to the trading value of mainstream token pairs, they don’t need that much $NETT incentives for liquidity (refer to trading volume and transaction fees on Uniswap). Therefore, $NETT incentives will gradually move to support Metis native projects in the future. Netswap will open the 2xReward pool to maximize the incentives for native projects on Metis Andromeda, and our community will be able to enjoy those benefits. Based on this, $NETT rewards will be distributed to the community in more interesting ways in the future, and Netswap team will gradually build a set of quantifiable incentive mechanisms and announce them in proper time.
## Emission Reduction Details:
**$NETT Liquidity Mining Start Time: 2022-01-09 15:00 UTC**
**Initial Emission Reduction Time: 2022-02-14 15:00 UTC**
Before the initial emission reduction, $NETT Liquidity Mining has been successfully running for 36 days. The emission from Liquidity Mining is 36\*81,369=2,929,284 $NETT, the accordingly reserved 10% $NETT amount is around 292,928.4, thus, the total emission is around 2,929,284+292,928.4=3,222,212.4 $NETT, the circulation is around 1,000,000(Airdrop) + 3,222,212.4 = 4,222,212.4 $NETT.
The remaining $NETT amount that hasn’t been mined out is around 99,000,000-3,222,212.4=95,777,787.6.
Based on the above, Netswap team is modifying the $NETT liquidity mining distribution amount of the 1st year to 10% (of the 99M NETT), afterwards, the rate of emission will be modified according to the ecosystem developments.
**Old $NETT Liquidity Mining distribution chart:**
**New $NETT Liquidity Mining distribution chart:**
**New $NETT allocation ratio for existing pairs:**
# Stake
Staking in the NETT ecosystem
### **Staking pools**
Netswap provides users with different staking pools: Offering scope and depth of utility to the NETT token.
* Stake NETT into wNETT: Unlock the ability to participate in Launchpad V2: IDO events
* Stake NETT into StakingRewards: Earn different token rewards by StakingRewards(invented by Synthetix)
* Stake NETT into veNETT(upcoming): Receive boosted yield to NETT rewards in select Farms + Governance
# wNETT Staking
Stake NETT into wNETT and gain exclusive access to Netswap Launchpad V2.
## What is wNETT?
wNETT is an allocation token used to enter Netswap Launchpad.
## Participate in Netswap Launchpad V2
Netswap has a vision, which is to become a hub for new primitives. This vision entails the all-inclusive service to Launchpad, List, and Farm via a seamless and unique offering. Launchpad is a central piece of this ecosystem and for users who wish to access exclusive Launchpad, wNETT is the required ‘ticket to enter park’.
Accrue wNETT and use that wNETT to enter Netswap Launchpad.
## How to earn wNETT?
Users can accrue wNETT by staking their NETT into the wNETT staking pool. Depositing NETT will reward users with wNETT, wNETT accrue in real-time, just like a yield farm.
There are no limits or restrictions when staking wNETT. Any amount of NETT can be deposited, with no fee to deposit or withdraw. Users can accrue as many wNETT Tokens as they like.
## The wNETT
* Accrue as much wNETT as you want
* wNETT is stored in your wallet when you claim it
* wNETT can be used at any time, for any events of launchpad
* There is no value attached to wNETT
* wNETT is non-transferable and cannot be sent to other wallets
* You cannot buy wNETT on any platform, it must be accrued from Staking
* wNETT has an infinite supply and is burned on use when entering launchpad
## How much wNETT do I need?
wNETT carries no value, the sole purpose of wNETT is to unlock an allocation for Netswap Launchpad.
For now, only stablecoins is supported to be raised on Netswap Launchpad, therefore, we define:
* For every 100 wNETT you have, you can unlock an allocation of $600(This 1:6 ratio is for Dexpools IDO event, it might be changed for next project).
* Once you enter the launchpad by using wNETT you can then deposit the needed stablecoin.
## How much wNETT am I earning?
1. The emission rate for wNETT is controlled by the protocol and may change to control the supply.
2. To calculate your rate of accrual you need to understand your NETT share in the total wNETT pool.
3. You can find the total NETTs staked into wNETT on the contract address of wNETT.
4. Take the total NETTs you have staked, divided by the total NETTs in the wNETT Staking Pool.
5. Multiply that % against the total wNETT emitted per day, this will give you the volume of wNETT you are personally accruing each day.
# StakingRewards
Stake NETT to earn different incentives
### What is StakingRewards?
StakingRewards is a place where you stake NETT into it for a while and later you will be able to claim specific rewards from it.
### How to participate in StakingRewards?
* Head over to the Stake page from Earn menu
* Select the pools under 'Stake NETT to earn tokens'
* Deposit your NETT (you will need to confirm the transaction in your wallet)
* Select Unstake\&Claim when you wish to claim rewards and leave the pool
* Congratulations, you have now claimed other token rewards!
{% hint style="success" %}
There is a long-term StakingRewards pool where you can earn Metis rewards due to our Builder Mining Rewards Giveback plan. There will be Metis rewards deposited into this pool monthly!
{% endhint %}
# veNETT Staking
Stake NETT into veNETT to boost yield farming and participate in governance
{% hint style="info" %}
veNETT Staking is a modified version of [`veJOE Staking`](https://snowtrace.io/address/0x1bf56b7c132b5cc920236ae629c8a93d9e7831e7#code).
{% endhint %}
### What is veNETT?
veNETT is a staking option that rewards long-term stakers of NETT with boosted NETT farms as well as voting power for future governance.
* Stake NETT into veNETT to accrue veNETT over time
* veNETT is neither transferable nor tradable due to the design of the smart contract, i.e. they are locked in the private wallet of the user.
* The more veNETT you accrue in your wallet the higher your NETT in selected farms will likely be
* You can speed up your veNETT by engaging a speed up accrual rate
* veNETT will also provide voting power for future platform governance
{% hint style="success" %}
veNETT will incentivize farmers to stake their NETT instead of selling them
{% endhint %}
### Explanation - High Level
* Stake NETT into veNETT to earn veNETT over time
* You can withdraw your staked NETT any time. However, your accumulated veNETT will drop to 0 as soon as you unstake any amount
* You need to claim veNETT manually for applying a `Boost APR` to the farms marked with `Boost`
* `Boost APR` will increase your NETT rewards
* The higher your veNETT share the higher your share of the boost rewards
* Farmers are now incentivized to stake NETT so they can earn more NETT
### Boost your NETT farm rewards
Boosted farms have fixed NETT emissions, shared between `Based Rewards` and `veNETT Rewards` pools. Boosted farms have a `Boost Factor`, e.g. 1.5, which measures the total rewards available to veNETT holders vs non-holders.
* Split of veNETT vs Base Rewards are determined by a `veNETTShareBp` setting configured at a farm level and managed by Netswap team.
* The farm factor measures the proportion of total rewards vs the base rewards emitted to the farm. E.g. for a farm that rewards 50% Base + 50% veNETT pools, the farm factor = 100 / 50 = 1.5X. Base APR follows regular yield farming calculations.
{% hint style="success" %}
With veNETT you will unlock the access to 50% of the NETT rewards that are directed to a farm.
{% endhint %}
* Users receive a share of rewards proportional to their LP token share in the yield farm. veNETT APR is proportional to the `User Farm Factor,` which is the square-root of their LP balance multiplied by veNETT balance.
* `Farm Total Factor` is then the sum of all `User Farm Factor`. Full equation shown below:
### Breaking down the veNETT calculation
#### Top Section
* Base rewards accounts for 50% of the NETT rewards(or otherwise stated as **`1-veNETTShare`**)
* **`nettPerSec`** is set by the Netswap team and the same for all participants in the farm
* **`user.liquidity`** is the amount of LP tokens that a given user stakes
* **`pool.totalLiquidity`** is the sum of all **`user.liquidity`** for a given farm
* A participant's % of base rewards is then **`user.liquidity / pool.totalLiquidity`**
#### Bottom Section
* veNETT rewards accounts for 50% of the NETT rewards(**`veNETTShare = 50%`**)
* **`user.veNETT`** is the amount of veNETT that a given user has in the wallet
* `User Farm Factor` equal to **`sqrt(user.liquidity * user.veNETT)`**
* **`pool.totalFactor`** is the sum of all farm factors for everyone in a given farm
* A participant's % of veNETT rewards = their percentage of **`pool.totalFactor`**
* This incentivizes participants to accumulate more veNETT, as **`user.veNETT`** has an equal weight in the veNETT rewards as **`user.liquidity`**
### :thinking: veNETT Calculations
Let's say the `veNETTShareBp` is set to 50%.
#### Example **Ⅰ**
Let's say Alice has `1000 veNETT` in the wallet and deposits `1 LP token`, Bob has `100 veNETT` in the wallet and deposits `10 LP token`.
Thus Alice has only \~9.09% of LP tokens, but has a larger stake amount of veNETT and therefore receives \~29.5% of total rewards.
LP
veNETT
Factor
Base Rewards
veNETT Rewards
Total Rewards
Alice
1
1000
~31.62
~0.45
2.5
~2.95
Bob
10
100
~31.62
~4.55
2.5
~7.05
Total
11
1100
~63.25
5
5
10
#### Example **Ⅱ**
Let's say Alice has `1000 veNETT` in the wallet and deposits `10 LP token`, Bob has `100 veNETT` in the wallet and deposits `1 LP token`.
Thus both Alice and Bob have veNETT balance proportional to their LP tokens, and therefore receive a proportional share of total rewards.
| | LP | veNETT | Factor | Base Rewards | veNETT Rewards | Total Rewards |
| ----- | -- | ------ | ------ | ------------ | -------------- | ------------- |
| Alice | 10 | 1000 | 100 | \~4.55 | \~4.55 | \~9.1 |
| Bob | 1 | 100 | 10 | \~0.45 | \~0.45 | \~0.9 |
| Total | 11 | 1100 | 110 | 5 | 5 | 10 |
**Example Ⅲ**
Let's say Alice has `0 veNETT` in the wallet and deposits `10 LP token`, Bob has `100 veNETT` in the wallet and deposits `1 LP token`.
Thus without any veNETT in the wallet to stake, Alice will only receive `45.5%` of total rewards despite providing 90.9% of LP tokens.
| | LP | veNETT | Factor | Base Rewards | veNETT Rewards | Total Rewards |
| ----- | -- | ------ | ------ | ------------ | -------------- | ------------- |
| Alice | 10 | 0 | 0 | \~4.55 | 0 | 4.55 |
| Bob | 1 | 100 | 10 | \~0.45 | 5 | 5.45 |
| Total | 11 | 100 | 10 | 5 | 5 | 10 |
### Eligible Farms
Boost farms will be selected from current 6 regular farms. And more farms will likely be added at a later date.
### Benefits for NETT
veNETT will be an important part of utilizing NETT in Netswap eco. It will incentivizes farmers to not sell their NETT rewards as:
* The more NETT you stake into veNETT, the more veNETT you will earn over time
* The more veNETT you accrue in your wallet, the higher your NETT farming yields will be
* Your accumulated veNETT will drop to 0 as soon as you unstake any amount of NETT
* The more veNETT you have the more voting power you will receive in the future governance
### Staking into veNETT
To activate the boost for farming, you first must **accrue and claim** your veNETT through staking your NETT into veNETT staking pool. Once you have staked NETT you will start accrue veNETT over time and your can press the Claim button to yield any accrued veNETT.
* Harvested veNETT will act as a receipt and automatically apply a boost to selected farms
* veNETT is non-transferable, you cannot trade veNETT
{% hint style="danger" %}
If you unstake any amount of NETT from veNETT staking pool, you will lose all of your accrued veNETT
{% endhint %}
### Accrual Speed: Base Rate
veNETT Stakers will receive veNETT at a fixed rate, up to a cap of around 100x their staked NETT.
* The base rate for veNETT will be: **0.000003170979198376** veNETT per sec per NETT.
{% hint style="info" %}
It takes you around 365 days to hit the max amount of veNETT you can accrue.
{% endhint %}
### Accrual Speed: Speed Up
veNETT stakers can boost their veNETT accrual rate through a speed up mechanism:
* Speed up rate for veNETT will be: **0.000006341958396752** veNETT per sec per NETT.
* veNETT Speed Up doubles the Base Rate (2x)
* You can increase your veNETT accrual by 2x for every 15 days.
* You will need to top up at least 5% of your staked NETT in a single transaction every 15 days to activate the Speed Up
An example of veNETT accrual with the Speed Up:
### How to Activate the Speed Up
You need to top up more NETT to your existing staked NETT to activate a accrual boost of veNETT.
* Top up at least 5% of your existing staked NETT to activate this boost
* The Speed Up mechanic is there to allow for new users to catch up with existing veNETT stakers
* **Every veNETT Speed Up Booster will last for 15 days**
Your speed boost can be monitored on the veNETT staking page, there is a countdown timeline tracking the remaining speed boost you have until you need to top up 5% more.
### Governance
* veNETT holders will receive governance privileges, to be defined in future scope.
* 1 veNETT = 1 voting power
* Unstake from veNETT staking = lose all of your voting power
# Launchpad V2
Launchpad is where Netswap provides IDO opportunities for Metis Andromeda ecosystem projects.
## Overview
The whole process of Netswap Launchpad is simplified on V2 as below:
1. Stake NETT to get wNETT as the ticket to enter Netswap Launchpad(More details about [wNETT](https://medium.com/@netswapofficial/wnett-staking-ddec5ffe7056)), **100 wNETT unlocks $600 allocation**(This 1:6 ratio is for Dexpools IDO event, it will be changed for next project).
2. Use accrued wNETT to deposit equivalent stablecoins into the active event on launchpad.
3. Wait for the launch time to receive new tokens and refunds(if any).
## Event Process
There are only three phases for the whole process:
1. Prepare — This phase is used to notify users to accrue enough wNETTs to participate in advance.
2. Deposit — Users could use wNETT to enter an active event during this phase, the more wNETT tokens users have the more stablecoins users will be able to deposit.
3. Launch — This is the launch time for the new token, the issuer of new tokens could distribute new tokens to eligible users based on their deposit after the opening of this phase.
## Models
There are also two models for Netswap Launchpad V2: **Primary Tier** and **Unlimited Tier**. Projects launching with Netswap may choose to incorporate either or both models based on their needs.
## Primary Tier Details
For this tier, there are only two limitations for depositing:
1. Maximum deposit cap for each address.
2. Maximum deposit cap for total raised stablecoins.
> **Example**
An issuer offers 100,000 ABC tokens for the Primary Tier, and the price for ABC is set up to $1. Thus the target raised funds are $100,000, which is also the maximum deposit cap for total raised stablecoins.
Let’s say that the issuer wants to raise m.USDC, and sets up the maximum deposit cap for each address to $1,000.
As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.
* Alice accrued 10,000 wNETT from the wNETT staking.
* Alice can only spend up to \~167 wNETT and receive an allocation of $1,000 m.USDC.
* Alice deposits $1,000 m.USDC, up to the maximum deposit cap for each user.
* Bob spends \~83 wNETT and deposits $500 m.USDC.
* Assumed that the ABC launch event has raised 100% funds of the target.
* Alice in this example could receive 100,000 ABC \* $1,000 / $100,000 = 1,000 ABC tokens.
* Bob in this example could receive 100,000 ABC \* $500 / $100,000 = 500 ABC tokens.
## Primary Tier Details
For this tier, there are only two limitations for depositing:
1. Maximum deposit cap for each address.
2. Maximum deposit cap for total raised stablecoins.
> **Example**
An issuer offers 100,000 ABC tokens for the Primary Tier, and the price for ABC is set up to $1. Thus the target raised funds are $100,000, which is also the maximum deposit cap for total raised stablecoins.
Let’s say that the issuer wants to raise m.USDC, and sets up the maximum deposit cap for each address to $1,000.
As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.
* Alice accrued 10,000 wNETT from the wNETT staking.
* Alice can only spend up to \~167 wNETT and receive an allocation of $1,000 m.USDC.
* Alice deposits $1,000 m.USDC, up to the maximum deposit cap for each user.
* Bob spends \~83 wNETT and deposits $500 m.USDC.
* Assumed that the ABC launch event has raised 100% funds of the target.
* Alice in this example could receive 100,000 ABC \* $1,000 / $100,000 = 1,000 ABC tokens.
* Bob in this example could receive 100,000 ABC \* $500 / $100,000 = 500 ABC tokens.
### **Over-subscription**
There won’t be an over-subscription by using the Primary Tier.
### **Under-subscription**
In the case that ABC launch events do not raise the target funds, which means the issuer could only receive m.USDC less than $100,000 and unsold tokens.
Let’s say that the ABC launch event has only raised 90% funds of the target, Alice and Bob are assuming the same as the above situation.
## Unlimited Tier Details
For this tier, there are no limitations for depositing. The issuer only needs to set up a target amount of raised funds, which is also used to calculate the overflow multiplier of the target.
*Note: The participation fees are charged for this tier, the calculation method shown below:*
> **Example**
An issuer offers 100,000 ABC tokens for the Unlimited Tier, and price for ABC is set up to $1. Thus the target raised funds is $100,000.
Let’s say that the issuer wants to raise m.USDC.
As we mentioned above, the requirement for depositing $100 m.USDC into the ABC launch event is 100 wNETT tokens.
* Alice accrued 10,000 wNETT from the wNETT staking.
* Alice can spend all 10,000 wNETT and receive an allocation of $10,000 m.USDC.
* Alice deposits $10,000 m.USDC.
* Bob spends 5,000 wNETT and deposits $5,000 m.USDC.
* Assumed that the ABC launch event has raised 100% funds of the target, which is $100,000 m.USDC. Then the multiplier will be 1x, there will be 1% participation fees charged by Netswap. Therefore, there are $1,000 m.USDC tokens distributed to Netswap, and the remaining $99,000 m.USDC tokens distributed to the issuer.
* There are only 100,000 ABC \* $99,000 / $100,000 = 99,000 ABC tokens will be distributed.
* Alice in this example could receive 99,000 ABC \* $10,000 / $100,000 = 9,900 ABC tokens.
* Bob in this example could receive 99,000 ABC \* $5,000 / $100,000 = 5,000 ABC tokens
### **Over-subscription**
Highly anticipated token offerings may have strong demand for their tokens. Users may deposit more stablecoins(and spend more wNETT) in order to receive a large share of the ABC tokens.
Let’s say that the ABC launch event has raised 110% funds of target, which is $110,000 m.USDC. And Alice and Bob are assuming the same as the above situation.
* The multiplier will be 1.1x, there will be 0.5% participation fees charged by Netswap. Therefore, there are $500 m.USDC tokens distributed to Netswap, $100,000 m.USDC tokens distributed to the issuer, and the remaining $9,500 will be refunded to users.
* Alice in this example could receive 100,000 ABC \* $10,000 / $110,000 = \~9,091 ABC tokens and $9,500 \* $10,000 / $110,000 = \~864 m.USDC tokens.
* Bob in this example could receive 100,000 ABC \* $5,000 / $110,000 = \~4,545 ABC tokens and $9,500 \* $5,000 / $110,000 = \~432 m.USDC tokens.
### **Under-subscription**
In the case that ABC launch events do not raise the target funds, which means the issuer could only receive m.USDC less than $100,000 and unsold tokens.
Let’s say that the ABC launch event has only raised 90% funds of target, which is $90,000 m.USDC. And Alice and Bob are assuming the same as the above situation.
* The multiplier will be 0.9x, there will be 1% participation fees charged by Netswap. Therefore, there are $900 m.USDC tokens distributed to Netswap, and the remaining $89,100 m.USDC tokens distributed to the issuer.
* There are only 100,000 ABC \* $89,100 / $100,000 = 89,100 ABC tokens will be distributed.
* Alice in this example could receive 89,100 ABC \* $10,000 / $90,000 = 9,900 ABC tokens.
* Bob in this example could receive 89,100 ABC \* $5,000 / $90,000 = 4,950 ABC tokens.
# Step by Step Introduction
## Overview
The whole process of Netswap Launchpad is simplified on V2 as below:
1. Stake NETT to get wNETT as the ticket to enter Netswap Launchpad(More details about [wNETT](/use-guide/stake/wnett-staking)), 100 wNETT unlocks $600 allocation for the first IDO, and 100 wNETT will only unlock $100 allocation after that.
2. Use accrued wNETT to deposit equivalent stablecoins into the active event on launchpad
3. Wait for the launch time to receive new tokens and refunds(if any)
### Step 1: Buy NETT on netswap.io
Go to netswap.io, click Trade - Swap, select the tokens and the amount you want to swap, then click Swap.
### Step 2: Stake NETT to get wNETT
Go to Netswap Launchpad page and find NETT staking, enter the amount of NETT you’d like to stake, then click stake and confirm it on your Metamask wallet.
### Step 3: Use your wNETT to deposit equivalent stablecoins
Select the IDO event you want to participate in, click Deposit, enter the amount of stablecoins you want to deposit (equivalent wNETT will be burned at the same time), click approve and confirm the transaction on your Metamask wallet.
### Step 4: Receive your tokens and refunds (if any)
Wait for the project token launch time to receive your new tokens, if there’s an over-subscription, you’ll also get refunds (read refunds details from the Launchpad V2 introduction article)
# Chart
Netswap Protocol Analytics
### Overview
Search tokens and pairs on Netswap, check statistics like daily Transactions and Fees, listed pairs and historical charts for Liquidity and Volume, Top-Tokens, Top-Pairs and a detailed Transactions list.
### Top Tokens
Top tokens on Netswap
### Top Pairs
Top pairs on Netswap
### Accounts
Wallet Analytics - view and track any wallet address, lookup positions, earned fees, liquidity, transactions, other wallet stats and the Top Liquidity Positions.
# Bridge Tokens
Before enjoying the lightspeed and low-cost transactions on NetSwap, you need to Bridge your assets to Metis Andromeda Layer 2 network first.
Available bridge services:
**Metis Bridge, BoringDAO, Celer Network, Relay Chain, Poly Network, Synapse Bridge, O3Swap, Multichain**
you can now **bridge to/from Metis Andromeda and BSC, Ethereum, Avalanche, Fantom, Harmony, Optimism, Arbitrum, Polygon, and GnosisChain and many more chains.**
## Step 1: Select Bridge
Click "Bridge more tokens" on the swap panel
Select the bridge you want to use
## Step 2: Visit the external bridge services and follow their tutorials to use
### Metis Bridge
How to use [Metis Bridge](https://bridge.metis.io/home) to get your Metis/m.USDC/m.USDT/m.WOW/m.LINK/WETH bridged to Metis Andromeda Layer 2 network.
### Relay Bridge
Watch Relay Bridge [video user-guide](https://www.youtube.com/watch?v=XI4KqVjFRJs\&utm_source=Twitter).
### PolyNetwork
How to use [Poly Bridge](https://medium.com/poly-network/poly-bridge-personal-computer-user-manual-1d093350e9ac) to get your Metis(BSC)/CAKE/BNB/BUSD bridged to Metis Andromeda Layer 2 network.
### BoringDAO
Watch this video:
### Synapse Bridge
Watch this video:
### O3Swap
How to bridge on O3Swap:
### Multichain
Check here:
### Celer Network
# Roadmap
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.
## Q1 2022
* [x] **Builder Mining Rewards Giveback Plan (Live Now)**
One of the core elements of our partner Metis’ business model is its[ Builder Mining program](https://metisdao.medium.com/metis-builder-mining-rewarding-our-ecosystem-partners-2e0708f49c80), 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 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!
* [x] **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.
## Q2 2022
* [x] **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.
* [x] **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.
## Within next 18 months from Jul 2022
* [ ] **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.
* [ ] **Lottery**
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!
* [ ] **Governance**
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.
# Security Audits
Netswap is a Uniswap V2 protocol fork
{% file src="/files/sFpfOWpgzvU2sC4qwBxE" %}
{% file src="/files/g0uXqrIhkOf36lmFFUdq" %}
# NETT Governance Model
A big part of the value proposition of NETT’s governance is that it is highly community-driven. Because there are no insiders, such as investors, team members, or other such stakeholders, the development of Netswap remains entirely up to the wider community. Netswap governance will be live three months after launch and will enable several key actions, including but not limited to:
* **Modifications to the liquidity pools**
Initially, the distribution of tokens will be entirely through the liquidity mining pools listed in the previous section. The liquidity mining period will remain active until the pools are altered or another community initiative is accepted as a formal governance proposal. Proposals may add and subtract liquidity mining pools or may allocate NETT directly to a user or a smart contract such as a community treasury.
* **Activating the swap mining program**
Initially, the 99% of tokens, or 99 million tokens, can only be mined by the liquidity mining program. But we still keep a swap mining switch in our router contract. A proposal of activating swap mining is decided by the community.
* **Stake to participate in the launchpad**
We will launch the functionality of a launchpad in the near future. NETT and Metis Token holders have the right of participation. More details of launchpad and more supported tokens will be announced in the future.
* **Proposals for more use cases**
As a native asset on the Metis layer2, we believe that the NETT token still has a lot of potential to be used. Therefore, the community is encouraged to make proposals for using NETT tokens in the future.
# Get Started with Metis Andromeda
**1. How to bridge my tokens to Metis Andromeda Layer 2 Network?**
Check Metis Bridge and third party bridge partners, and what tokens they support on this chart:
**2. How do I add Andromeda to Metamask?**
Chain ID 1088(Andromeda)
RPC URL ;
Block Explorer
**3. Does Netswap only run on Metis Andromeda?**
Yes, we're the first native DEX on Metis Andromeda, and we're not working on other networks for now.
# Farming FAQ
**1. How to start farming?**
Read tutorial here:
**2. What is the APR with (LP)?**
This is the APR for the transaction rewards of your LP.
**3. How do I check my LP transaction fee rewards after staking LP token?**
After staking LP token to the farm, your liquidity won't show on the pool page, and you're still getting LP transaction fee rewards, but you cannot check them directly.
If you want to check your LP details or remove liquidity, you need to unstake LP token first.
**4. Why my NETT rewards become 0 after I staked more LP token into the farm?**
After staking more LP token into the same farm, your previous NETT rewards will be harvested automatically, check your wallet and you'll find those NETT.
**5. How to get LP token (NLP)?**
After providing liquidity into the pool, you'll get NLP (LP token) of this pair automatically.
**6. What is the "2x Reward Farm" on farm page?**
Double rewards farm with both NETT and ?token rewards.
# General FAQ
**1. How do I buy $NETT?**
Read the tutorial here:
**2. Where can I see NETT price chart?**
Find NETT price chart on Dexscreener:
Coingecko:
Geckoterminal:
**3. Where can I see the APR for Liquidity Pairs?**
Go to Chart Page - Pairs:
Click the specific pair you want to check, then you'll get the current APR.
**4. Where can I see my LP transaction fee rewards? And how can I claim it?**
Go to , enter your wallet address and click "Load Account Details", then you'll be able to check your LP transaction fee rewards.
LP transaction fee rewards are split between both assets equally, and they are distributed when you remove liquidity. For example when you remove 50% of your liquidity, you get 50% of your rewards. When you remove 100% of your liquidity, you get 100% of your rewards.
Also your LP transaction fee rewards are added to your liquidity position automatically.
**5. Why am I getting an error when I try to stake/claim saying I have wrong RPC?**
This should be an incompatibility problem caused by Chrome versions, operating systems, or other plug-ins factors, you can try it again on another browser.
**6. Why does my swap failed?**
Usually failed swap transactions are caused by insufficient gas fees or large price movement. If you have enough $METIS for gas fee, set the slippage tolerance to 1% or higher.
Also be aware of the local time of you desktop, which must equal the actual time of your location.
# Stake FAQ
**1. How do I stake $NETT to earn $METIS rewards?**
Read the tutorial here:
**2. Is there a minimum amount for Staking?**
No, we don't set a minimum amount.
**3. Can I unstake and withdraw my rewards anytime?**
Yes, click "Unstake\&Claim" to withdraw your NETT token and claim the token rewards.
# Github Repos
Netswap Org:
Netswap exchange contracts:
Netswap governance:
Netswap sdk:
Netswap token lists:
Netswap tokens assets:
Netswap LaunchpadV2:
# Smart Contracts
Smart contracts of Netswap
### Exchange Contracts
Multicall: [0x0071DDb5a2e80B6b22317594a0307599836621CD](https://andromeda-explorer.metis.io/address/0x0071DDb5a2e80B6b22317594a0307599836621CD/contracts)
NetswapFactory: [0x70f51d68D16e8f9e418441280342BD43AC9Dff9f](https://andromeda-explorer.metis.io/address/0x70f51d68D16e8f9e418441280342BD43AC9Dff9f/contracts)
NetswapRouter: [0x1E876cCe41B7b844FDe09E38Fa1cf00f213bFf56](https://andromeda-explorer.metis.io/address/0x1E876cCe41B7b844FDe09E38Fa1cf00f213bFf56/contracts)
InitCodeHash: 0x966d65068a6a30f10fd1fa814258637a34e059081d79daa94f3e2b6cec48e810
### Governance
NETT: [0x90fE084F877C65e1b577c7b2eA64B8D8dd1AB278](https://andromeda-explorer.metis.io/address/0x90fE084F877C65e1b577c7b2eA64B8D8dd1AB278/contracts)
CommunityTreasury: [0x2Dc348972dF99DFf6716007d19368EaAa6e75ED7](https://andromeda-explorer.metis.io/address/0x2Dc348972dF99DFf6716007d19368EaAa6e75ED7/contracts)
MerkleDistributor(Phase1 Airdrop): [0x12Cd499009EB443eF8F378E271aCc97D0543C0A7](https://andromeda-explorer.metis.io/address/0x12Cd499009EB443eF8F378E271aCc97D0543C0A7/tokens)
MerkleDistributor(Phase2 Airdrop): [0x142f0F56A1C9600e7B2B034648134850C93e7238](https://andromeda-explorer.metis.io/address/0x142f0F56A1C9600e7B2B034648134850C93e7238/tokens)
StakingRewards(Stake NETT to earn Metis): [0x4d2F0f5409B51172dc229b3c8dCaa1365a9C9C27](https://andromeda-explorer.metis.io/address/0x4d2F0f5409B51172dc229b3c8dCaa1365a9C9C27/contracts)
StakingRewards(Stake NETT to earn Relay): [0x7fe9f01dba45ae94c5fEA8F448c1db1a9bF08300](https://andromeda-explorer.metis.io/address/0x7fe9f01dba45ae94c5fEA8F448c1db1a9bF08300/contracts)
StakingRewards(Stake NETT to earn DXP): [0x54f683CdA2843a3bB55ab2D8ca97E2Aaa784532b](https://andromeda-explorer.metis.io/address/0x54f683CdA2843a3bB55ab2D8ca97E2Aaa784532b/transactions)
StakingRewards(Stake NETT to earn Hera): [0xb434526B76DD1C12eF4e93Fe8be3cD58E9460329](https://andromeda-explorer.metis.io/address/0xb434526B76DD1C12eF4e93Fe8be3cD58E9460329/transactions)
NETTFarm: [0x9d1dbB49b2744A1555EDbF1708D64dC71B0CB052](https://andromeda-explorer.metis.io/address/0x9d1dbB49b2744A1555EDbF1708D64dC71B0CB052/contracts)
VeNETT: [0x6535Db9e8ba2C4304fE45B25D866B37346cC2BD5](https://andromeda-explorer.metis.io/address/0x6535Db9e8ba2C4304fE45B25D866B37346cC2BD5/contracts)
VeNETTStaking Proxy: [0x3c13674aE82dAc9FFfe5D7f6E9eE555536Bc9961](https://andromeda-explorer.metis.io/address/0x3c13674aE82dAc9FFfe5D7f6E9eE555536Bc9961/transactions)
VeNETTStaking Implementation: [0xa9D6748D1c3831A87c08a702D73AdF4b306b31A3](https://andromeda-explorer.metis.io/address/0xa9D6748D1c3831A87c08a702D73AdF4b306b31A3/contracts)
BoostedNETTFarm Proxy: [0x5E1f9Cd1B9635506af6Bc3B2414AC9C8b2840EFa](https://andromeda-explorer.metis.io/address/0x5E1f9Cd1B9635506af6Bc3B2414AC9C8b2840EFa/transactions)
BoostedNETTFarm Implementation: [0x0ecdc3d1747dc0ba37c9f7a0711501657136f553](https://andromeda-explorer.metis.io/address/0x0ecdc3d1747dc0ba37c9f7a0711501657136f553)
FarmLens: [0x8D8be2B72515680F6C31dc5D9a3fB30f1366Df60](https://andromeda-explorer.metis.io/address/0x8D8be2B72515680F6C31dc5D9a3fB30f1366Df60/transactions)
### Launchpad V2
wNETT: [0x8738E9E9a8263065b07aD460beB66815Dd7B81a5](https://andromeda-explorer.metis.io/address/0x8738E9E9a8263065b07aD460beB66815Dd7B81a5/contracts)
wNETTStaking Proxy: [0x276164cDe2607ce3E45Dd76fE7f4f31511D9DB9D](https://andromeda-explorer.metis.io/address/0x276164cDe2607ce3E45Dd76fE7f4f31511D9DB9D/contracts)
wNETTStaking Implementation: [0x794a5108085Fe5ee26aDD48181bCe1a0CECD07CC](https://andromeda-explorer.metis.io/address/0x794a5108085Fe5ee26aDD48181bCe1a0CECD07CC/contracts)
PadFactoryProxy: [0xD365E36086f70d187E4F5b83c912E555E57110fA](https://andromeda-explorer.metis.io/address/0xD365E36086f70d187E4F5b83c912E555E57110fA/transactions)
PadFactory Implementation: [0x587e879e48ae1753d44d9f33603141c6afb87f76](https://andromeda-explorer.metis.io/address/0x587e879e48ae1753d44d9f33603141c6afb87f76)
Unlimited Implementation: [0x0f21D33F6F4fCAB61E6C21539280C90a140Def34](https://andromeda-explorer.metis.io/address/0x0f21D33F6F4fCAB61E6C21539280C90a140Def34/transactions)
# API
Useful API for Netswap
Analytics Subgraph:[ ](https://api.netswap.io/microservice/api/graphql)
Circulating Supply: [https://api.netswap.io/microservice/api/info/nett/circulating\_supply](< https://api.netswap.io/microservice/api/info/nett/circulating_supply>)
Total Supply:
4\. Once you have selected tokens to swap, enter the quantity to trade and press 'Swap'.
{% hint style="info" %}
If the token you are trading has a reflect element, you may need to increase slippage.
{% endhint %}
5\. Your wallet will pop up asking for confirmation to swap, press confirm.
6\. Once confirmed in your wallet, you will see a 'Transaction Submitted' pop up and after a few seconds, your trade should be completed!
### Increasing slippage to swap
Some tokens may have a 'Reflect' element to them. This simply means there is a type of transaction tax when trading those tokens. That is part of the token design and not a feature of the Netswap.
Reflects on a token typically range between 5% to 20%. Some even higher.
To swap these kind of tokens, you need to increase your slippage, do this by clicking this button.
### Transactions Getting Stuck?
Metis Andromeda moves too fast... and MetaMask can often get stuck because of it.
Follow this simple guide so you can get back to trading: [Reset Metamask](https://metamask.zendesk.com/hc/en-us/articles/4556918516763-How-to-reset-your-wallet#h_01FXJ8P07CG8H4A8A9GK0X0EKA)
# Pool
Liquidity pools
### How does a liquidity pool work?
Netswap charges 0.3% fee for all trades, of which **0.25%** is added to the **liquidity pool** of the token pair that was traded on.
A **liquidity pool** (LP) is a pool of two tokens, e.g. Metis and NETT tokens. This pool is what allows users to exchange between the two tokens automatically.
Users can earn a share of the trading fees by depositing a pair of tokens into the LP (also known as "adding liquidity"). Users will receive an LP token, representing their share of the LP.
### Pool APR
Pool APR is the yield you accrue by adding liquidity to a Pool. You earn **0.25%** of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed when you withdraw your Liquidity.
{% hint style="success" %}
Your share of the Trading Fees will be accrued in real-time and will be paid on top of your existing position when you exit the liquidity pool
{% endhint %}
Providing liquidity is not without risk, as you may be exposed to *impermanent loss (IL).*
[“Simply put, impermanent loss is the difference between holding tokens in an AMM and holding them in your wallet.” - Nate Hindman](https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22?gi=d20ff5b44e52)
If the prices of the two tokens revert back to the same prices when you added liquidity, you won't suffer any IL.
### Tutorial: How to add liquidity to a pool?
1. Grab your tokens and head to the Pool page
2. Find the desired pool by using the page filters and/or typing in the tokens you wish to deposit, eg 'NETT' or 'Metis'.
3\. Once you have selected the correct pool, you will see the Pool page.
4\. Here, you can add tokens and also amend slippage if necessary.
5\. Once you add in tokens, you'll have to approve in your Metamask + then deposit the tokens.
6\. Done, you are now earning your share of trading fees generated by the pool!
{% hint style="success" %}
In return for depositing tokens to a tool, you will receive a 'NLP Token' you might be able to use this token in one of our farms to earn extra yield (on top of the trading fees) in the form of $NETT Tokens.
{% endhint %}
### Impermanent Loss (IL)
Providing liquidity to a pool, does come with the risk of impermanent loss.
#### So what is Impermanent Loss?
Impermanent Loss occurs when the price ratio of the supplied token pair changes. As a simple rule, the more volatile the assets are in the pool, the more likely it is that you can be exposed to impermanent loss. As the AMM dictates that the total liquidity must remain the same, the ratio is readjusted in order to establish an equilibrium.
The 'impermanent' part of IL is an apt description, as the value of the token may yet return to its initial price if it is left in the pool. If the price realigns, then the IL no longer exists, however, if the investor withdraws their funds from the liquidity pool, then the loss is realized fully.
* Impermanent loss is caused by a bidirectional change in value of either one or both tokens within a pair.
* The more volatile the underlying tokens are in the pool, the more likely you are to experience Impermanent Loss
* Impermanent Loss is not permanent and is only realized when you withdraw from a Liquidity Pool.
# Farm
Yield farming
### What is yield farming?
Yield Farming is the process of using DeFi protocols to generate interest on your cryptocurrency assets. There are various forms of yield farming, such as providing liquidity, staking or lending and each option comes with different user considerations before participating. For the purposes of this page, we will focus on yield farming via providing liquidity.
### Benefits of Yield Farming
* Yield farming can be a lucrative way to earn extra rewards, such as trading fees or tokens
* Improve your assets capital efficiency by utilizing idle tokens sitting in your wallet
* By yield farming you are also supporting the DeFi ecosystem you are participating in
### Farm Rewards
| Farm | Rewards |
| -------------------- | ------------------------------------------- |
| Normal farms | Single: NETT |
| Double rewards farms | Double rewards: NETT + Token x |
| Boost farms | Extra NETT Rewards if you stake into veNETT |
{% hint style="info" %}
Direct to "[How to migrate LP to Boost Farms](/use-guide/farm/how-to-migrate-lp-to-boost-farms)".
{% endhint %}
### How to earn NETT token rewards through yield farming
* Connect and confirm your wallet
* Locate the farm you wish to deposit your LP
* You are now viewing the 'Farm' page
* This contains the Farm details including Liquidity, Pool APR, NETT APR, and bonus APR
* If you don’t have LP tokens yet, select 'Get xxx - xxx NLP'
* This will take you to the token-pair’s liquidity pool eg (Metis+NETT)
* Once you have supplied tokens into the pool and received your LP tokens, return to the farm
* On the middle section of expanded panel, enter the amount of LP tokens you wish to stake
* Press Approve or Stake (or both) and confirm the transaction in your wallet
* Congratulations, you are now earning Farm rewards!
### **How to Harvest Rewards**
* You can harvest farm rewards at anytime
* Simply press the Harvest button and any pending rewards will be added to your wallet.
* Any bonus rewards accrued, will be held in the smart contract waiting for you to harvest
### Types of Rewards
* LP APR: Fees collected by liquidity pools, paid on top of your position when you withdraw
* NETT APR: NETT Tokens that can be collected by pressing harvest
* Bonus APR: Bonus reward tokens that can also be claimed by pressing harvest
# How to migrate LP to Boost Farms
A tutorial for users who staked their LP in normal farms
If you have staked your LP tokens into normal farms, after you claim some veNETT into your wallet, it only takes few steps to migrate LP tokens to Boost Farms to get a better yield farming.
Step 1: Select the non-boost farm you staked
