ERNEswap is going live on Matic network today!

ERNEswap is a decentralized exchange that will rely on swap feature to enable users to trade tokens and synthetic tokens seamlessly thanks to an automated market making mechanism. All orders will be market orders, i.e. they will be carried out instantly. The platform’s main mechanism resembles atomic swaps, which are smart contracts that allow the instant conversion of one cryptocurrency for another without the involvement of centralized exchanges or through fiat operations.

ERNEswap will be available on Matic Network soon; letting traders and liquidity providers utilise the full potential of layer 2 scaling mechanism of Matic and providing users with near instant transactions and gas fee reduced by order of magnitude.

Once live, users will be able to provide liquidity for the pairs listed on ERNEswap. Liquidity providers will become eligible to receive rewards in the form of ERNE tokens for liquidity mining. Another portion of rewards will come from the transaction fees.

For the first time in the DeFi space, users will be incentivized for providing liquidity for longer-term. Here is how:

- 1.1x reward on liquidity provided for one week.
- 1.25x reward on liquidity provided for one month.
- 2x reward on liquidity provided for three months.

Moreover, for ERNE liquidity pools — initially, ERNE/ETH and ERNE/MATIC — the reward size will be 2x. Consequently, the reward size for locking liquidity in ERNE pairs for longer-term will also double, such as 2.2x for one week, 2.5x for one month, and 4x for three months.

It’s worth mentioning that it is not mandatory to keep your liquidity locked for a predetermined period to take part in this liquidity reward scheme. You can get back your liquidity at any time, though you may not become eligible for the larger rewards. For example, if you decide to unlock your non-ERNE liquidity after 2 weeks, you get the 1.1x reward for the first week of liquidity mining, but you fail to obtain the 1.25x reward for the one-month locking.

Besides the ERNE token rewards, users will be given unique NFTs based on their participation and reward level. More details will be provided in the future.

Pools

Here is the initial set of available pools on ERNEswap:
Native DeFi: ERNE-ETH, ERNE-MATIC
CeFi Stablecoins: USDT-ETH, USDC-ETH
DeFi Stablecoins: DAI-ETH

ERNE swap is launching at 12:30 PM GMT on 6.11.2020.