Following the successful launch of the OneSwap public beta since September 8, the already booming DeFi project is preparing the initial trade offering for its native ONES governance token.
CoinEx, a leading global crypto exchange, will be the first global exchange to list ONES on Sep 18 and conduct the “Initial Trade Offering” (ITO) Event from 19 Sep – 8 Oct.
Here’s why the ONES governance token offers an unmatched value in the DeFi space and what it means for token holders who buy it during this week’s debut.
Introduction To ONES, OneSwap, And What It Means To The DeFi Space
ONES, formally called the OneSwap DAO Token, is an Ethereum-based ERC-20 token like many DeFi tokens dominating the crypto market. But that’s about where the line is drawn for comparison’s sake.
After the official launch of OneSwap on September 19, ONES will offer both yield farming and a new feature called order mining, adding yet another financial incentive for token holders. The step pioneered by OneSwap can provide DeFi investors with a more robust investment method. It does not sacrifice any liquidity at all, and users can cancel transactions at any time without incurring losses due to market changes.
ONES tokens are designed to be deflationary. The project’s white paper outlines how this is achieved through the repurchase and buyback token burning process. According to the methodology, fees generated by transaction “swaps” are split up so that 60% goes to the liquidity provider, while 40% is used to repurchase and burn ONES tokens.
Over time, this will result in ONES effectively reaching a far lower supply, and thus a much higher valuation through supply and demand dynamics, ensuring that holders are rewarded for their early participation.
The token also provides holders with on-chain governance over OneSwap through community voting and change proposals. Only users who possess above 1% of the total token supply can create proposals, while any user holding any amount of ONES tokens allows them to vote for or against any proposals.
After the explosive growth of other swap platforms that lack vital features, OneSwap stands to experience enormous expansion. Those interested in learning more about ONES and the initial trade offering are advised to keep on eye on CoinEx till September 19, 2020, when the token offering goes live.
How OneSwap Ups The Ante Over Uniswap And Other AMM Crypto Market Competitors
Uniswap and other DeFi automated market makers have stoked new interest in the crypto space and have acted as a launchpad for innovative new projects and applications.
OneSwap builds off of where Uniswap lacks in foundation, providing basic trading tools like market and limit orders and candlesticks, and enhanced wallet experience. Traders can make more informed decisions and manage smart contracts directly from the same interface and platform.
The OneSwap public beta launched earlier on Sep 8, and already is one of the most sought-after projects in the DeFi space. The ONES token has listed on CoinEx on September 18. After this, the DeFi space has yet another significant participant to boost its use case and adoption.
CoinEx Lists ONES Worldwide and An Initial Trade Offering Event will Soon Begin
Today, CoinEx has listed ONES and the opening time for ONES trading was at 2 am (UTC). The ITO Event from September 19 through October 8. During this time, users will earn a corresponding miner award from conducting and completing a transaction.
A user can get ONES also as a reward for trading on CoinEx, with no limits on tokens pairs, markets, or otherwise. The total daily reward distributed over 25,000 ONES, with 20,000 going to spot trading and making trading, while 5,000 ONES going to perpetual swaps.
OneSwap Unveils Yield Farming And Order Mining Rules
Along with OneSwap’s launch on September 19, its initial mining event will commence and will run for 20 days until October 8. The upcoming decentralized exchange protocol announced rules for the mining today which can be found on this link.
Learn more about OneSwap and ONES – http://www.oneswap.net/
Learn more about CoinEx ONES ITO – (https://announcement.coinex.com/hc/en-us/articles/360049820311）
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