SparkleSwap — Launching in less than 48 hrs, but what is it?
SparkleSwap — Launching in less than 48 hrs, but what is it?
SparkleSwap is a new decentralized exchange powered by Uniswap! Most people have heard of Uniswap and Mooniswap as the DEFI continues to gain popularity!
Since SparkleSwap is essentially a fork of Uniswap, we have decided to continue broadcasting all transactions through Uniswaps Uni-V2 Router. This means you’ll still have direct access to all the best liquidity pools and token prices listed on Uniswap.
Why Does SparkleSwap Use Uniswap For Transactions?
After a discussion with team members, Sparkle decided it was better to reduce the chances of unnecessary price slippage when executing trades on SparkleSwap. This also ensures all token prices are listed at fair market value with no chances of price arbitrage between our parent exchange.
Do I Need To Migrate Liquidity To SparkleSwap?
No, we see no value in encouraging users to take unnecessary risks or face impermanent loss by migrating liquidity away from one of the largest exchanges in DEFI.
So Why Use SparkleSwap?
Using SparkleSwap will allow users to receive all the advantages of both platforms.
- All SparkleSwap transactions are routed through → Uniswap
- All Liquidity and Token pairs are also routed through → Uniswap
- Earn trading incentives for token swaps routed through → Uniswap
The Sparkle team has two primary phases of development which aims to provide a unique experience when using SparkleSwap:
Development Phase One — SparkleSwap LP Staking Pools
Following the success of Uniswap’s liquidity staking pools, SparkleSwap’s liquidity staking program will go live on December 4th, 2020 12:00 am UTC. The liquidity pools will remain open until March 5th, 2021 12:00 am UTC, and target the following seven pools on Uniswap v2:
Bonus Pair SparkleSwap Rewards Token!
Staking Pool Rewards Distribution
1,000,000 SPRKL will be designated per pool to LPs in proportional to liquidity, which roughly translates to:
- 8,333.33 SPRKL per pool per day
- 1.27968878 SPRKL per pool per block (14s block times)
These reward rates are not subject to vesting or lock up.
Development Phase Two — SparkleSwap Rewards Token ERC20✨
Basic Tokenomics ✨
Token Name: Sparkleswap Rewards Token
Token Symbol: ✨
Max Supply: 20,000
Uniswap Pool Supply: 10,000
LP Farm Supply: 1,000
Swap Incentives: 7,000
Team Supply: 2,000
Development Phase Three — SparkleSwap Transaction Rewards
SparkleSwap is currently developing a unique smart contract interface that will communicate with Uniswap’s V2 Router. Our primary goal with this is to add additional incentives for using SparkleSwap.
SparkleSwap → SPRKL-V1 Reward Router → Uniswap v2 Router
The SPRKL-V1 Rewards Router will have two primary jobs:
- Reward users for every token swap made through our platform. (Rewarded in ✨)
- Provide reliable and accurate on-chain communication between SparkleSwap → UniSwap
7,000 ✨ will be designated for additional trading incentives, with a rough estimate of up to 1% of the total trade value.
Join our telegram and find out the latest information on phase two development for SparkleSwap.
Additional Resources
Website: https://sparkleswap.finance/
Github: https://github.com/Sparkleloyalty
Staking Factory Contract: StakingRewardsFactory.sol
Staking Rewards Contract: StakingRewards.sol
Token Contract: Sparkle.sol
