EmiSwap, a community-governed decentralized exchange (DEX) offering high rewards for liquidity providers (LPs), has announced the raise of USD $1.4 million in seed funding for its ESW token.
Offering 100% compensation for Ethereum’s transaction fees, EmiSwap is a decentralized autonomous organization (DAO) that incorporates a variety of solutions for decentralized finance (DeFi); allowing users to benefit from every single transaction in a few easy steps.
Transaction fees for an Ethereum-based DEX can cost more than $20 for each trade due to the design of Ethereum’s network and can fluctuate drastically depending on the level of congestion. Transaction fees have spiked so high that it has caused the market to question the viability of DEXs. To accommodate its community, EmiSwap has launched its DEX with full compensation for Ethereum transaction fees.
Designed to provide high rewards for LPs, EmiSwap offers:
- 100% Ethereum gas fee compensation for any activity (creating a pool, making a swap, or adding liquidity) in $ESW governance tokens.
- 30,000 $ESW for each 1 million DAI trading volume is distributed among LPs proportionally daily (which increases the basic reward for providing liquidity by two).
- Over 40,000 $ESW is allocated to LPs daily.
- 0.05% rewards from trading volume daily and vote on product developments.
- Limited-edition NFT cards will be allocated to LPs.
EmiSwap kicked off its private sale earlier this week to provide further opportunity for those who couldn’t participate in the overbooked seed round. EmiSwap will conclude the private sale at the end of May 2021
“We followed a strategic thinking process, detailed analysis of blockchain values and fees, and a variety of methods and formulas to make our offering valuable and unique. We created EmiSwap, not just for the sake of starting, but because we believe in its power. Today we rest assured that our product is unique and is ahead of the game.”
– Grigory Rybalchenko, Founder and CEO at EmiSwap
EmiSwap is the first project of the EmiDAO alliance and its members who are actively involved in managing and supporting the product.
The EmiDAO alliance includes:
- Alpha Sigma Capital – an investment fund focused on emerging blockchain companies.
- DigiFinex – a top cryptocurrency exchange by trading volume and liquidity.
- BitMart – an exchange with 2.1 million global users and over 300 cryptocurrencies listed.
- Emirex – a decentralized financial project that distributes all its revenue among stakeholders.
- HollaEx – an all-in-one and open-source white-label exchange solution that lets anyone run a complete crypto trading platform
- IDCM Exchange – a Hong Kong-based cryptocurrency exchange and financial services company working in areas including media, social, mining, digital asset management, markets, and research.
- Everest Group – a global banking platform that is integrating its services of eKYC, AML, whitelist-as-a-service, and fiat-in/out ramps.
Recently, EmiSwap passed an audit performed by blockchain security company Hacken. The audit helps to ensure the protection of user assets and data. The full report can be found here.