Over the years, we have seen many Automated Market Makers (AMMs) that revolutionized the decentralized finance (DeFi) world, with each one having its own means of attracting potential users.
But despite the growing number of AMMs that are rolled out, not even a single one featured having non-fungible token (NFT) mechanics, that is, until today – until EmiSwap entered the game.
What EmiSwap brings to the DeFi world
EmiSwap is a gamified, rewarding, and decentralized Automated Market Maker (AMM) exchange that is powered by ESW governance token and NFT Magic Cards that compensates for 100% Ethereum (ETH) gas fees.
One of its perks is the ESW token, which is used to pay for any operation on the exchange instead of Ethereum fees. Currently, there are 200,000,000 ESW tokens that are in circulation.
What’s even better is that ESW tokens are the owners of the EmiSwap. There will be no changes in the protocol unless there is a conducted voting procedure.
As for its NFT mechanics, Emiswap features what it calls Magic Cards that are playable, tradable, and yield-boosting. These are NFT collectibles.
As for the mechanics, EmiSwap divided the path to reach $100 million TVL (total value locked in = liquidity locked) into 1000 milestones, e.g. $100,000 TVL, $200,000 TVL, $300,000 TVL, etc., plus one extra milestone that will grant a Mythic Card. One hundred cards of different tiers will be issued every $10 million TVL and distributed among LPs who crossed the $100,000; $200,000 etc. milestones.
EmiSwap is an open-source, decentralized platform from Uniswap V2 and an automated market maker (AMM) exchange backed by the ESW governance token and yield-boosting non-fungible token (NFT) Magic Cards.
It is the first project in the EmiDAO ecosystem, an autonomous DAO that gives ESW holders rights to get a share of the protocol’s profits and make decisions on its future development.
Image courtesy of EmiSwap/YouTube