KSwap Monthly Progress Report
After three months of launching our platform on the OKExChain network, we have managed to provide users with reliable DeFi services. While achieving this milestone, we have heard the community and understand users’ concerns about token price and developmental directions. Therefore, we have made a few critical updates during this month and hope to better position ourselves in future challenges. The first and foremost update is to halve emission reductions of the KSwap token. Secondly, we strive to excel in a rapidly changing DeFi world. Our team has done extensive research on the existing OKExChain ecosystem and acknowledges that the current ecosystem is still in its infancy stage. Thus, we will transform and update existing products in the near future, and an important update under development is a DEX aggregator. As the total value locked on the OKExChain is still somehow lower than that on other chains, Swap sites based on a single router may not perform efficiently. Yet, an aggregator applies optimized algorithms into identify the most cost-efficient router among a variety of candidates, thus benefiting those users with high frequency transactions. Another advantage of the aggregator is to increase TVL substantially and boost the token price accordingly.
Team KSwapFinance is deeply thankful for your steadfast support along the journey. We do foresee that upgrading from a Swap platform into a DEX aggregator may require a substantial amount of time and efforts. While in this month we are a little bit quite, our paramount focus is on the product development and testing. We sincerely thank you for your understanding and kind patience. With this being said, we have prepared a few updates for you about project deliverables, businesses development, and marketing, which are shown as follows.
📄 Project progress:
A. The block emissions reduction of KST (Kswap Token)
In order to address token inflation, we hear the community and decided to decrease the current emission rate from 80 to 40 KST per block, which was already implemented at 16:00 (HKT), 2021–10–15.
B. Beta testing of the DAO (Decentralized Autonomous Organization) frontend
C. The Validation of DAO smart contracts
D. The development of new single-asset pools and relevant smart contracts and the optimization of existing pools
E. The development of a DEX (decentralized exchange) and relevant smart contracts
With an evolving on-chain ecosystem, we have witnessed an increased number of new projects and tokens launched each day. Our aim is to build a first-class DeFi / DEX aggregator that provides users with the most liquidity and the best rates on the OKExChain network. In other words, potential users can swap tokens using the most optimized router identified by our smart contracts.
F. The optimization of mobile UI (User Interface)
G. The updating of official documentations
🤝 Business Development
A. DappRadar X KSwap collaboration
At DappRadar, users can easily find information and insights about all the major dapps (decentralized applications). Now KSwapFinance is listed at DappRadar as well!
B. KSwap X LOS (Land of Strife) dual mining pool
Users can farm both KST and LOS as rewards in the dual mining pool.
📢 Marketing and operations
We held a Halloween event that awarded a total of $2,000 prizes to participants.
Once again, we appreciate your support and we will keep building to benefit our community and attract potential DeFi players. In the upcoming month, we hope to launch critical updates about single asset pools and the above-mentioned DEX aggregator. We eagerly look forward to sharing more updates and events in the future.
👯 Social channels:
👉Telegram (🌎Global chat): https://t.me/kswap_finance
👉Telegram (🇨🇳Chinese): https://t.me/kswap_financeCN
👉Telegram (🇳🇱Dutch): https://t.me/kswapfinance_NL
👉Telegram (🇺🇸English): https://t.me/kswap_finance_EN
👉Telegram (🇵🇭Filipino): https://t.me/kswap_finance_PH
👉Telegram (🇫🇷French): https://t.me/kswap_finance_fr
👉Telegram (🇯🇵Japanese): https://t.me/kswap_finance_JP
👉Telegram (🇪🇸Spanish): https://t.me/Kswap_Finance_SP