Launching the 1st Moonbeam Stablecoin DEX
Dear Moonbeamers and ecosystem partners, the 1Swap team is excited to announce the launch of 1Beam!
What? > Stablecoin DEX
Where? >Moonbeam Ecosystem
When? > Thursday, Feb 10 2022 @ 2pm GMT
We have launched 1Swap, the stablecoin DEX on Moonriver network in Q3 2021 and since day 1 we have provided users with *the best* stablecoin swap rates and lowest swap fees. Meanwhile, Moonbeam has already surpassed Moonriver in TVL and number of announced projects.
Such sentiment, combined with strategic decisions by other Moonriver projects to deploy on Moonbeam leads us to expand our stablecoin DEX to Moonbeam too! We are thrilled to present our Moonbeam expansion plan in this article.
The Launch Plan
> Moonriver → 1swap.fi and $1SWAP token, no changes
> Moonbeam → 1beam.io and new $1BEAM token (UI up soon)
We believe that launching a new token is the ideal decision and in line with other Moonriver projects that came to Moonbeam recently (Solarbeam: $SOLAR and $FLARE, for example).
1Beam DEX highlights:
> Swapping of the popular stablecoins: USDT, USDC, DAI, BUSD and other pegged tokens
> Only 0.04% swap fee and no slippage for large stablecoin swaps
> Swap fees will be distributed as profit for 1Beam stakers
> All our existing 1Swap social channels stay (Twitter, Telegram, Medium)
> Rebrand all existing social channels to 1Beam. This way, our 1Beam and 1Swap community members can easily keep track of project news and updates on both chains in parallel
We’re launching 1BEAM as the value-capturing token within the protocol. In comparison to 1SWAP, we’re totally overhauling the 1BEAM tokenomics to create a very attractive, sustainable and profitable economic design in the coming years.
> Total supply: 1 billion $1BEAM
> No presale, no ICO, fair launch
> Liquidity Mining: 60% (duration 36 months)
> Team: 20% (vesting 24 months + 3 months cliff)
> Treasury: 10% (vesting 36 months)
> Ecosystem 5%
> Airdrop for 1SWAP holders
> Decaying emission model
> This means that 1BEAM will be emitted at a progressively decreasing inflation rate (thus decaying emissions). Such approach rewards early liquidity providers and provides price stability via cutting inflation rates later on.
1BEAM Profit Model:
All details around token emission and the reward model will be presented ahead of launch in our next article.
> Ellipsis Finance and Geist Finance-inspired model
> Users who stake 1BEAM will receive income from swap fees generated when users perform swaps on the DEX
See tokenomics article for more details.
Audit and Security
Our stablecoin DEX product has already been audited by Obelisk and there is no change to the code for 1Beam. This is extremely helpful and positive because it implies that 1Beam is inheriting 1Swap’s code security.
We look forward to many new partnerships and growing together on Moonbeam!