WingSwap is a decentralized exchange (DEX) built on the Fantom Opera chain following the automated market-making model (AMM) popularized by UniSwap with creative improvements. that allows platform members to provide liquidity and create a market for others to exchange their original tokens. Apart from this, the platform is created with multiple unique features such as an exchange, and an NFT marketplace where users can buy and trade NFTs. With this, WingSwap is set to change the narrative and redefine the Defi industry.

What is WingSwap?

WingSwap is a dedicated Decentralized Exchange (DEX) and a staking platform where users can provide liquidity to the DEX, trade different types of assets in a decentralized way, and get rewarded for doing so. The platform is created without the flaws of existing approaches, enabling proper money markets to function, and creating a safe positive-yield approach to the liquidity provided by platform members.

WingSwap aims to provide a comprehensive decentralized financial service – DEX (Swap), Staking, and Liquidity pool using WingSwap token (WIS), the native token of the ecosystem in a decentralized, safe, environmentally friendly way with a low transaction fee.

Apart from this, the platform is created with multiple unique features such as DEX Smart Trading, NFT Integration, and DAO Governance.

Outstanding features

What is the project trying to achieve?

Their aims and products

WingSwap team referred to as the WingSquad understands that there is a need to put an end to the notoriously vague and abysmal trends in traditional finance and existing swap and DEX protocols. For instance, existing platforms charge high fees, transactions are slow because of the poor scalability of the blockchain they use, and cross-chain transactions cannot be carried out because they are not interoperable.

With WingSwap, there is no such thing. Exchange activities are automated, fast, and decentralized using the Automated Market Maker – AMM mechanism. Trades can be carried out automatically and users can stake their idle funds in the liquidity pool to gain a high return on their investment.

WingSwap offers several features that support decentralized trading:

• Decentralized Exchange
• Liquidity pools
• Yield Farming
• Stablecoin Pools
• NFT Integration
• DEX Smart Trading
• Staking

WingSwap’s Vision

They envision an ecosystem where fast, easy, and affordable decentralized finance products and services that meet the needs of users are delivered in a timely, responsible, and sustainable way. Apart from this, they project a platform that will be the forerunner of all Defi products and use cases in the nearest future and easily accessible assets with more use cases that will drive adoption, increase demand and value.

Below is a summary of the vision of WingSwap:

• To become the go-to decentralized exchange on the Fantom ecosystem with multifunction integration
• To be the first DEX to integrate NFT on Fantom, connecting NFT with Defi to create a new, better, and more useful yield farming model for users.
• To creatively develop and perfect its ecosystem, progress more projects including Launchpad, Bridge, NFT, Gamefi

What is the unique selling point?

Decentralized Exchange

WingSwap is the AMM-based Decentralized Exchange on the Fantom Opera network and it is designed to exchange one token for another directly, bypassing trading platforms and other intermediaries.

Process

To carry out exchange operations, the user does not need to create an account on the exchange, go through the KYC procedure and trust their funds to third parties. All the user needs to do is connect the browser wallet, select the exchange direction and make a transaction. Next, the smart contract will automatically send the corresponding amount of tokens to the user’s account.

WingSwap is an attempt to work around the performance restrictions of smart contract blockchains, especially Ethereum. Before AMMs came into prominence, decentralized exchanges attempted to use a classical order book mechanism.

Token Swaps

Token swaps on WingSwap are a simple way to trade one FTM-based token for another token through groups of AMM.

WingSwap charges a 0.25% transaction fee for every trade. The collected fees will be distributed in the following ways:

• 0.17% will be distributed to liquidity providers
• 0.03% will be distributed to Wingswap Treasury
• 0.05% will go to their buyback $WIS burn system

Liquidity Pools

Explained in clearer terms, when a user supplies an asset – that provides liquidity to the pool, it automatically becomes a fungible resource. The token deposited in the liquidity pool is denoted with a value or derivative. This gives the supplier ownership rights of the reward paid on the total amount supplied.

The assigned derivative is thus defined as an increasing percentage ownership claim of a portion of the liquidity pool supplied to the smart contract on the Fantom blockchain. With this, supplying liquidity to the pool is equal to having a derivative that represents the supplier’s contribution to the liquidity pool.

How does it work?

Whenever liquidity is deposited into a pool, special tokens known as liquidity tokens are minted to the provider’s address in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a liquidity provider’s contribution to a pool.

Whenever a trade occurs, the fee which is levied is distributed pro-rata to all LPs in the pool at the moment of the trade. To receive the underlying liquidity back, plus any fees that were accrued while their liquidity was locked, LPs must burn their liquidity tokens.

When a liquidity provider makes a deposit of their token into Liquidity Pools, they will receive an LP token and a share of the transaction fee.

The reward of Liquidity Providers

Providing liquidity gives you rewards in the form of trading fees when people use your liquidity pool.

For example:

1. There are 10 LP tokens representing 10 WIS and 10 FTM tokens and they have: 1 LP token = 1 WIS + 1 FTM

2. Someone trades 10 WIS for 10 FTM and someone also trades 10 FTM for 10 WIS.

3. WIS/FTM liquidity pool now has 10,017 WIS and 10,017 FTM.

Yield Farming

Yield farming is one of the core features of WingSwap. It allows users to earn WIS while supporting WingSwap by farming LP tokens.

The farming rewards will be very attractive in the early stages to attract liquidity to the project, however, will decrease over time and stablize.

WingSwap will have a suitable lock and unlock mechanism to keep the token price and ensure the benefit of users.

Staking

Staking serves a couple of crucial purposes. It keeps the network safe since the platform uses a proof of stake consensus and it allows users to earn passive income. Interestingly, the more they stake, the more they earn.

Staking Details

You can earn free tokens on WingSwap by staking WIS tokens at Stake Section. That’s right, stake WIS for high yields. It’s just that simple.

There will be two stake pool types:

• Regular Stakes: Stake WIS to get rewarded as a WIS token
• VIP Stake: Your WIS token will be locked within 3/6/9/12 months… To get more rewards than the usual stake. You can also get an additional Ship Booster NFT reward when you stake to a certain level.

Stablecoin Pools

In order to minimize Impermanent Loss while keeping an attractive return for users, WingSwap offers Stablecoin Pools – where users can minimize the risk of participating in farming activities.

Learn more about Impermanent Loss  https://academy.binance.com/en/articles/impermanent-loss-explained

At launch, WingSwap will provide the following Stablecoin pools:

• USDC – FUSDT
• USDC – DAI

AirPools

Airpools are the easiest place to earn more tokens. Here, users will stake 1 type of token (usually WIS) to be rewarded.

In the near future, they will be working with a number of partners to launch Airpools which allows WIS tokens to be set to receive the token rewards of other projects.

NFT Integration

They have designed WingSwap with NFT functionalities to create a novel, better, and more appealing competitive advantage for their users. There are two types of NFTs in the WingSwap collection:

• Wings NFTs

Wings NFTs are the exclusive and highest valued NFT in Wingswap’s NFT collection. Wings NFT will be sold in limited quantities. There will only be one collection of Wings NFTs.

Wings NFT holders will be able to participate in DAO Governance.

Here are their NFTs:

• Ship Booster NFTs

Ship Booster NFTs allow you to achieve higher APR% on your liquidity positions. Users can stake with ship booster NFT into the farming pool to get more rewards from farming.

When the Ship Booster NFT is staked along with the LP tokens, it provides a percentage boost on the rewards earned from that pool/vault.

Here are their NFTs

Bonus Rewards Program

To incentivize users to join and use their service, WingSwap will initiate the Bonus Rewards Program. 

Bonus Rewards Program will take place at the same time as opening Farming, Staking, and Wings NFT Stake. Within this period, by using their service: staking, and farming, users will get a bonus rewards rate for their participation. Staking Wings NFTs after buying one will also be eligible to earn the bonus. 

40% of Rewards will be unlocked immediately during the Bonus period, 60% will be locked for 3 months after the period ends, and linearly distributed in 6 months. 

At the end of the program, rewards from farming, staking, and Wings NFT staking will be unlocked 100% when all locking and unlocking periods pass.

Here’s the timeline for the bonus period so you can get the picture of it.

VIP Staking

This is the feature that allows users to stake an amount of token, either WIS, or LP Token in a flexible set of time from 1 month up to 5 years. 

Rewards earned from VIP Staking will be much higher than normal Staking.

With high rewards from VIP Staking, xWIS earned will also be higher. The reward will be based on the APR of normal Staking. Different lock periods provide different reward rates.

Users won’t be able to unstake before the Staking period ends. However, users can still claim Rewards linearly.

When the lock periods end and users have yet to unstake, they will receive rewards with a normal staking rate apart from the rewards of VIP Staking.

DEX Smart Trading

WingSwap believes that all traders, whether rookie, expert or institutional, are entitled to a smooth trading experience on a great platform. There’s no consideration for the problems with centralized exchanges or the inefficiency of decentralized exchanges; all that matters is making a profit and having fun with the trading process.

In the present time, many countries around the world still have barriers to crypto investors, WingSwap DEX Smart Trading will solve that problem. They provide a secure, permissionless, and unrestricted trading platform that allows investors to access the cryptocurrency and Defi markets in the most convenient way.

To serve the trading needs of users, DEX Smart Trading on WingSwap platform offers a convenient trading experience like CEX with an Order list, Price chart, and Limit order. Now, users can trade like a traditional exchange on a decentralized exchange (DEX).

DAO Governance

WingSwap DAO enables holders of WIS to vote on proposals submitted by both users and the WingSwap team. They aim to build a fully decentralized project, which involves the DAO (i.e. decentralized autonomous organization) votes and decides on proposals shaping the platform’s future; which could range from implementing new strategies to changing rewards parameters.

Any user of WingSwap that holds WIS can have a part in shaping the future of the platform by creating a signal vote to gauge interest in an idea. If a signal vote passes, a proposal can then be created in which the DAO will vote to make it official, truly exercising the power of their decentralized community.

Roadmap 

Technical data

Key metrics 

WIS is WingSwap’s governance token issued on Fantom. Its total supply is 1,000,000,000 (1 Billion). Through their cross-chain bridge, it can be swapped for other public chain-based assets and can be circulated within the financial ecosystem of different public chains. 

• Token Name: WingSwap
• Ticker: WIS
• Blockchain: Fantom Smart Chain
• Token Standard: ERC-20
• Contract:  0xF24be6c063Bee7c7844dD90a21fdf7d783d41a94
• Token type: Utility, governance
• Total Supply: 1.000.000.000
• Circulating Supply: 47.341.360 WIS

Token allocation

Token release schedule

• Liquidity Mining: 55%; Used for early-stage liquidity mining incentives. The program will be extended for 48 months.
• NFT Mining: 10%; Used to reward users who stake Wings NFT.
• Seed Sale: 2%; Strategic round funding. 5% released at TGE, 5% for the second month, and the remaining 10% released monthly over 9 months.
• Private Sale: 9%; Private round funding. 10% were released at TGE, remaining 10% were released monthly over 9 months.
• Core Team: 8%; Used for incentives to the founding team, including community operators and smart contract developers. Tokens locked in 12 months, vesting linearly over 36 months.
• Development ecosystem funds: 8%; Used for sustainable community incentives and ecosystem development, vesting linearly over 24 months.
• Partners & Advisor: 3%; Incentives to those early and core advisors that assist WingSwap’s development. Tokens locked in 6 months, vesting linearly over 12 months.
• Public Sale/IDO: 2%; Initial Dex Offering. 50% released at TGE, remaining 10% monthly over 5 months.
• Referral program: 1.5%; Vesting linearly over 12 months, the remaining portion will be burned.
• Airdrop: 1.5%

Token use case

The WIS token is a deflationary token that uses a Proof of Stake consensus algorithm and it is regulated by a token burn and buyback strategy. The success of major protocols depends on how valuable the features they offer are and how much users are attracted to the liquidity of their protocol.

Here is a summary of some of the utilities of the token:

• Pay a 0.25% fee on every transaction
• Participate in the liquidity pools
• Participate in staking, yield farming, and NFT exchange
• Cast votes and participate in the governance of the platform

Token sale

How to own the token?

You can buy $WIS after listing on WingSwap at https://app.wingswap.io/swap

How to buy:

1. Add Fantom Opera network on https://chainlist.org/ in your Metamask (chainID 250)

2. Swap your USDC / USDT from ETH/BSC network to Fantom Opera network https://cbridge.celer.network/#/transfer

3. Go to https://app.wingswap.io/swap

4. Switch network in your Metamask to Fantom

5. Add $WIS official contract 0xF24be6c063Bee7c7844dD90a21fdf7d783d41a94 in APP

6. Now you can swap your USDT / USDC to WIS

Liquidity providers on WingSwap receive WIS for providing liquidity or user can farm LP tokens to earn WIS. This ensures the protocol continues offering low fees and extremely low slippage.

Market and Community

Market

According to The Block data, Decentralized exchanges have so far recorded nearly $100 billion in trading volume in November 2021.

Uniswap V3 and V2 were the main contributors to November’s trading volume, with $47.37 billion and $24.07 billion, respectively.

Since the launch of IDEX in 2018, until the advent of Uniswap on the Ethereum network, and later similar AMMs on other EVM networks, Decentralized Exchanges have attracted huge volumes of transactions and users.

Crypto investment market participants who were previously only familiar with centralized exchanges such as Huobi, Binance, Coinbase… now have an attractive choice of using Decentralized exchanges with advantages such as:

• No KYC and identity disclosure required.
• Full ownership of assets on personal wallet address
• Access to potential tokens that have not been listed on a major exchange

Community

WingSwap has crossed the mark of 98.800 Followers on Twitter

Backers

Team/ Founders

Advisor

Partners & Investors

Verdict

The platform is created without the flaws of existing approaches, enabling proper money markets to function, and creating a safe positive-yield approach to the liquidity provided by platform members. Besides offering comprehensive decentralized financial service, WingSwap is also created with multiple unique features such as DEX Smart Trading, NFT Integration & DAO Governance.

Find more information about WingSwap:

Website: https://app.wingswap.io/

Twitter: https://twitter.com/WingSwapFTM

Telegram: https://t.me/WingSwapFTM

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Elise

Coincu Ventures