BC.Game

Netswap Unveils Roadmap to Improve Its Decentralized Marketplace

UTC by Benjamin Godfrey · 4 min read
Netswap Unveils Roadmap to Improve Its Decentralized Marketplace
Photo: Netswap

Netswap has been uptight in regard to following its detailed and ambitious roadmap, and it hopes to carve out a niche for itself in this decentralized finance ecosystem through its constant and reliant delivery of products.

Last December, Netswap made history as the first-ever Decentralized Exchange (DEX) to launch on a Layer 2 blockchain network: Metis Andromeda to be precise. Now, three months later, it’s set to roll out a tsunami of outstanding features never before seen on a DEX.

As a decentralized exchange with a growing community, the Netswap team is sharing its agenda with the public as it looks to build out its platform while giving its users even more value in relation to what becomes available as we move on.

The Decentralized Finance (DeFi) and particularly the DEX niche is somewhat saturated. Therefore, newcomers need to be more innovative in order to get a slice of the market share. Netswap has been uptight in regard to following its detailed and ambitious roadmap, and it hopes to carve out a niche for itself in this decentralized finance ecosystem through its constant and reliant delivery of products.

Netswap Roadmap for 2022

As detailed by Netswap, initiatives or programs that help bring its ecosystem together will be prioritized by the team this first quarter. If you think about it, that’s precisely why Netswap launched “Builder Mining Rewards Giveback Plan”, which is currently up and running. In this program, the Netswap team gives out rewards it earns from the Metis “Builder Mining Program” as a way to empower its fierce community (Netswap 4 the people).

According to the details of how rewards will be distributed:

  • 50% of the fees earned from the Builder Mining Program will be placed into the Netswap Staking program, with the community able to stake NETT tokens on the Netswap platform and earn METIS rewards
  • 40% of the METIS rewards are bound to be directed to the Netswap Farm
  • The remaining 10% will be kept as reserve assets and used for airdrop campaigns.

Although, the Builder Mining Rewards Giveback Plan isn’t all that is being prioritized; Netswap is prioritizing $NETT holders by cutting the emission rate of $NETT. By doing that, Netswap is partially reducing $NETT supply and therefore setting a Supply and Demand equilibrium at a higher price. In simpler terms, this emission cut should be highly beneficial for $NETT’s potential & holders.

Now, buckle up, because the news are just getting started: Netswap will start having trading competitions for its community. The first competition is taking place right now. It’s live during the whole month of March.

The second quarter of the year will be used essentially for upgrades. Blockchain technology and the protocols built on them are evolving at a fast rate and most protocol, specially Netswap, plans to keep up. In order to match the changing tech, the DEX will be completing both the Launchpad and the User Interface (UI) upgrades before the end of the second half.

The upgrades may not be immediate, but keep in mind that Netswap has this as its development priority for the second quarter, so users might get a very pleasant surprise before the end of it.

The third quarter will witness the introduction of Limit Orders and a push into the prediction markets. These two proposals will help Netswap users gain more value for their trading experiences and capital commitments, allowing them to maximize capital efficiency.

As if that wasn’t enough, they also have very good news for our NFT lovers: the introduction of the Non-Fungible Token (NFT) marketplace, lottery, leverage swap, and governance model for the platform, which will be the ultimate focus for the fourth quarter. These plans will position Netswap as a highly competitive decentralized marketplace with a mixture of proper focus on platform development and community building, respectively.

More on the Forthcoming Trading Competition

Having started on the 7th of this month, Netswap’s first trading competition will span a maximum of 30 days and will feature a total of $100,000 in prizes to be won by participants.

It’s not like you have to sign up for anything else, the address they use for the transactions will be automatically captured and enlisted. Netswap users will only need to swap any of the following token pairs within the set timeframe of 30 days to be eligible to win the designated prizes:

  • WBTC/METIS
  • WETH/METIS
  • NETT/METIS
  • METIS/m.USDT
  • METIS/m.USDC
  • METIS/Relay
  • METIS/MINES

For this 30-day period, all users who trade on these seven pairs will be ranked by the total effective trading volume featuring both: the buying and selling transactions completed by the user. The Top100 users will have the opportunity to share about $100,000 worth of METIS, NETT, RELAY, and MINES tokens.

Altcoin News, Blockchain News, Cryptocurrency news, News
Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Related Articles