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Golden Observation 丨 "Upgraded Uniswap"? Four reasons why Mooniswap deserves attention



Golden Finance Blockchain News, August 23  The demand for alternative trading solutions in the cryptocurrency market is growing, and atomic swaps and decentralized trading services have also attracted the attention of many people. On August 11, the decentralized exchange (DEX) aggregation protocol announced the launch of the automated market maker service Mooniswap, which supports the redistribution of part of the profits of arbitrageurs to the liquidity pool, which is equivalent to an "upgraded version of Uniswap". It is said that Mooniswap will bring 50-200% more income to liquidity providers than Uniswap V2.

Golden Noon News | May 17th at noon important news list: 7:00-12:00 Keywords: GBTC, Bitcoin plunge, CME BTC futures

1. Data: GBTC shares worth 16,513 bitcoins will be unlocked this week

2. "Bitcoin Plunge" ranks 25th on the Weibo hot search-ethexc list

3. Bank of Tokyo-Mitsubishi UFJ: The dollar will remain weak

4. Galaxy Digital report: Banking system consumes more than twice as much energy as Bitcoin

5. Vitalik Buterin destroyed 410 trillion pieces of SHIB, accounting for about 41% of the total supply of SHIB

6. CME BTC futures formed a "45295-49140 USD" gap this week [2021/5/17 22:10:30]

Just 24 hours after the launch of Mooniswap, the total value of locked positions on the platform exceeded $5.5 million. Let Jinse Finance and everyone take a look at the four reasons why this automated market maker launched by 1inch deserves attention:

Jinse Finance mining data broadcast | ETH’s network computing power dropped by 2.53% today: Jinse Finance reported that according to the data of the spider mining pool:

The computing power of the entire ETH network is 173.760TH/s, the mining difficulty is 2169.46T, the current block height is 9782888, and the theoretical income is 0.00802186/100MH/day.

The computing power of the BTC network is 100.916EH/s, the mining difficulty is 13.91T, the current block height is 623845, and the theoretical income is 0.00001807/T/day.

The computing power of BSV network is 2.514EH/s, the mining difficulty is 0.34T, the current block height is 628693, and the theoretical income is 0.00071611/T/day. [2020/4/1]

Reason 1: Different liquidity systems

Golden Morning News | Bitfury Considers Encryption IPO The British Government Refuses to Approve Encryption Currency: 1. The Japan Financial Services Agency proposes to limit the borrowing capacity of encrypted margin traders.

2. Steve Wozniak, co-founder of Apple, said that the blockchain is subversive but it is difficult to predict the future.

3. The National Bank of Canada adopts the JPMorgan Chase blockchain system.

4. Tether Treasury wallet holds nearly 30% USDT.

5. The Shenzhen Arbitration Commission case affirms the property attributes of Bitcoin.

6. The British government refuses to approve the Royal Mint's cryptocurrency.

7. Canada Border Services Agency pilots IBM-Maersk TradeLens blockchain platform.

8. Bitfury is considering Europe's first major crypto IPO.

9. 16 cryptocurrency and blockchain-related companies are listed in the top 100 fintech companies. [2018/10/26]

Any centralized exchange, trading platform or brokerage service provider can only be successful if there is sufficient liquidity, but sometimes these platforms struggle to attract liquidity, especially when altcoins and alternative assets are considered. For Mooniswap, liquidity can be obtained through the 1 inch protocol, which in turn can promote automatic market making.

Golden Relativity|Yu Jianing: National supervision is conducive to clearing the source of the industry: In this issue of Golden Relativity, the director of the editorial board of the "2018 China Blockchain Industry White Paper" and the deputy director of the China Communications Industry Association Blockchain Special Committee Yu Jianing said: For the innovation and application of blockchain technology, since the blockchain was included in the 13th Five-Year Informatization Plan, the basic support attitude has not changed. The key prevention and attack is "not really based on the blockchain". technology, but to speculate on the concept of blockchain to conduct illegal fund-raising, pyramid schemes, and fraud.” Illegal behavior. Those illegal acts are always "spotting", and the appearance is always changing, but the nature of the crime behind it remains unchanged. In particular, pyramid schemes and fraud are cancers of the industry, which have greatly disrupted the public's understanding of blockchain technology and the industry, and have had a serious negative impact on the development of technology and the industry. Therefore, this round of national supervision is conducive to rectifying the source of the industry and optimizing the allocation of innovative resources, which will have important significance in promoting blockchain technology and industrial progress. [2018/8/31]

By maintaining a liquidity pool of supported assets, users can easily switch between their favorite tokens. Except for the trader himself, no one can ask for fund custody, and liquidity providers can also get paid in the form of transaction fees. This is actually a very "interesting" source of passive income, and you will find that many DeFi projects have adopted it. similar business model.

It should be noted that Mooniswap is not the first automated market maker to try this model. The first DeFi project to explore this specific function is Bancor, and later Uniswap and Balancer have integrated similar functions. But the advantage of Mooniswap is that it enables liquidity providers to benefit from price drops, while other projects cannot benefit from price drops.

Reason 2: Increase income for liquidity providers

For automated market makers, liquidity providers are crucial, and the Mooniswap team is also spare no effort to reward these users. Through its improved version of an automated market maker, the Mooniswap platform can provide liquidity providers with up to 200% revenue from price slippage profits alone.

In this case, we found that Mooniswap not only "upgraded" the automated market maker, but also endowed end users with great capabilities. After all, contributing liquidity and getting rewards is a key element of the DeFi industry. Centralized exchanges usually grab their own profits, and Mooniswap has taken a completely different approach and brought new vitality to the DeFi industry, which is definitely a good thing.

Reason Three: Competitive Fee Structure

The profit model of the Mooniswap platform is to charge a transaction fee of 0.3%, which is not low, but it may be lowered in the future. According to the project team, the transaction fee rate will be reduced to 0% in the future, which in turn will also give the platform another fee competitive advantage - of course, this depends on the way this free fee structure is adopted.

However, Mooniswap will charge a referral fee (Referral Fee), which will not be charged to users, but will only be used to connect to other projects and solutions on Mooniswap, and only if a referral wallet is specified in the transaction Charged — No matter how much revenue a liquidity provider earns, the rate is always fixed at 5%.

Reason 4: Native Token Price Oracle

Whether it is now or in the future, the role of price oracles in the cryptocurrency industry cannot be ignored. Many platforms and services use decentralized oracles to obtain accurate price information, Mooniswap does not use ChainLink oracles (most decentralized exchanges have ChainLink integrated), but chooses to use its own price oracle solution .

Mooniswap uses an on-chain volume-weighted average price oracle system, and the data will be updated after each transaction to provide users with accurate and detailed price information. However, some people think that the price oracle mechanism of Mooniswap may be manipulated by malicious people (using their own oracles instead of a more impartial third party). Although the team clarified that this is not the case, it seems that only time will tell if their model Is it fair and just.

Part of this article is compiled from cryptomode


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