[Rejected] Skaswap.finance

Grant Proposals DeFi
1

ATTN: DO NOT INTERACT WITH SKASWAP.

Proposal details

Project Name

Skaswap Finance

Project Type

Decentralized Finance

Proposal Description

Introducing brand new AMM on the IoTeX ecosystem

We aim to provide a universal one-stop platform for the cryptocurrency community.

We are launching on the mainnet with the following features:

Decentralized Exchange
Exchange tokens via your wallet, tokens never leaving your custody means it is 100% owned by you.
Users can provide liquidity and earn a 0.25% fee on all trades proportional to their share of the pool.

Yield Farming
Liquidity Providers can deposit SKA-LP Tokens and start earning $SKA. The token distribution follows a fixed supply and constant emission model.

Vaults
Users can lock $SKA tokens into the vaults for a determined period of time. The participants receive various benefits such as higher rewards according to lock duration, higher allocations in Launchpad, and more.

Launchpad

A launchpad enabling projects to raise capital on a decentralized and interoperable environment based on IoTeX. A launchpad will also serve as a $SKA burning mechanism.

We are ultimately launching SKA on our launchpad: a fair solution that serves as a proof of product for the Launchpad. Users will be able to deposit Wrapped IOTX in return of a share of the SKA allocated to the presale.

Milestones

number deliverable duration funding request
1. Faucet

We want to provide a small amount of $IOTX for users that used the bridge to start using the app.		 Contracts and frontend one week $10,000
2. Bridge

Integrate bridge on the inferface, to provide a more seamless experience for the DEX users. 		Frontend & Backend one month $10,000
3. Lending & Borrowing

A borrowing/lending product similar to Compound, expected to be launched on multiple chains.		 Contracts and frontend After ChainLink integration on the IoTeX mainnet $15,000
4. Form a DAO

Allowing skaswap to be genuinely driven by the community, a governance system will be implemented.		 Forming DAO with community three months $15,000

Total funds requested

[ $50,000 ]

Funds will be used for marketing & expanding the team.

About your Team

[We prefer to stay decentralized as a skaswap & talk in code, but we are willing to dox ourselves to the IoTeX team and would be excited to work with the team on future incentives #letsbuildtogether ]

Deployed & Verified contracts are on our GitHub repo - GitHub - skaswap/skaswap-contracts

Metrics

  • 15+ project launch via our launchpad
  • 10,000+ active users.
  • $5,000,000+ Total Value Locked.

=== Do not change this section ===

By posting a proposal, you accept the rules below:

https://community.iotex.io/t/grant-issuance-rules/3839

Community voting

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0 voters

=== Please add Milestone Reports below ===

5 Likes
3

Just registered to vote.
IoTeX needs high quality DEXes like ska. Big thumbs up :+1:

1 Like
4

Thanks for the feedback! Looking forward to BUIDL on the IoTeX!

1 Like
5

just registered to vote, hope the project is succesful.

1 Like
6

We need to start to compete with the likes of Harmony and one way is to add some DEX so people can purchase and stake without having to go to the CEX and having to go through all the KYC.

1 Like
7

Thanks for the feedback!

8

Nice project I hope the iotex grant your request.:blush:

2 Likes
9

Hope it’ll last. Quite good apr though

1 Like
11

they just ran with the money

1 Like
12

ATTN: DO NOT INTERACT WITH SKASWAP

Users that deposited funds into Skaswap have reported they are unable to withdraw - we are investigating this now. If you have any information, please contact an IoTeX core team member.

As a reminder, this community forum is for grant PROPOSALS - in this case, the grant was NOT approved by the IoTeX Foundation. Please be cautious when depositing tokens into any smart contract, apply best practices by only interacting with fully audited contracts, and always do your own research.

5 Likes
13

This skaswap site gone … i think forever!

1 Like