# Introduction ## OpenSwap OpenSwap is a next generation DEX, offering innovative swapping and liquidity solutions to enable DeFi users to efficiently and effectively swap and provide liquidity in the growing multi-chain landscape. ### Who is Involved OpenSwap is introduced by a team of seasoned technology experts who are supported by IJS Technologies, with contracts reviewed by CertiK, Beosin, and Peckshield. OpenSwap is also part of the first cohort of Impossible Finance. ### **Summary** As the DeFi universe continues to expand, onchain liquidity becomes increasingly scattered and less efficient across multiple chains and the situation is poised to get increasingly worse as new chains emerge with individual DEXs on each chain. OpenSwap is envisioned as a next generation DEX that is composed of a basket of self-service DeFi technologies that can be freely mixed and matched like lego blocks and be structured for different needs and in different market conditions. OpenSwap’s technologies can cater to all ends of the decentralized funnel, protecting swappers from what previously were thought of as “must-haves” onchain and crosschain problems, allowing users to have access to the best yield and incentives, and enabling projects to establish funding and sustained token health, giving project teams the freedom and bandwidth to focus on what they do best - BUIDL. # Roadmap Here is our Roadmap of OpenSwap so far ![](/files/RD2CzD5Q0goQkt3KMUGJ) > **We will update our Roadmap quarterly and keep you up to date with our project.** # Tokenomics ![](/files/2cAiZc4jlsNodvg0iiU2) OSWAP token is the governance token of the OpenSwap ecosystem. The core purposes of OSWAP token are to: * Incentivize usage of the OpenSwap platform * Encourage users to get involved in governance * Enable a wide variety of platform privileges surrounding core technologies and ecosystem offerings Listed below are some of OSWAP token's generic utilities surrounding core technologies and ecosystem offerings. We will continue to update this section as the project develops. #### **OpenSwap Bridge** * Node Validators Bridge Troll NFT holders who wishes to become node validators (Bridge Trolls) for Open Interchain Protocol will need to stake OSWAP token as bond. #### Liquidity Queue * **Priority Queue**\ Liquidity Providers who wants to set up a Priority Queue will need OSWAP tokens for the setup fees. * **Range Queue**\ Liquidity Providers who wants to set up a Range Queue will need OSWAP tokens for the setup fees. * **Group Queue**\ Users who wants to set up a Group Queue will need OSWAP tokens for the setup fees. * **Booster Queue**\ Project Owners who wants to set up a Booster Queue will need OSWAP tokens for setup fees. * **Buyback Queue**\ Project Owners who wants to set up a Buyback Queue will need OSWAP tokens for setup fees. #### NFT Loyalty Program * **Troll Camp**\ Users who wants to participate in NFT Loyalty Program such as Troll Camp, will need OSWAP tokens for staking. #### **Staking and Farming** * **Fixed Staking Rewards**\ Users who wants to participate in Fixed Staking Rewards programs will need OSWAP for staking. * **Troll Farms**\ Users who wants to participate in Farming programs such as Troll Farms will need OSWAP for LP token creation. OSWAP token was established as an ERC20 token, and was bridged to Binance Smart Chain (BSC) to enable the governance of the BSC version of OpenSwap during the initial launch. OSWAP tokens have no financial value. OpenSwap has designed its tokenomics to support a sustainable long-term project ensuring that: * 95% of all tokens will be subjected to locking and gradual vesting schedules * Over 70% of all tokens will be subjected to vesting schedules of over 24 months * Core team allocations and related tokens are subjected to long-term vesting periods to ensure community member confidence #### OS Pro OSWAP token is an ERC20 token with a 1B hard-capped total token supply. OSWAP tokens was bridged to BSC during the initial rollout, and will continuously be bridged to other chains as the OpenSwap project matures and develops. # Liquidity Queue ### **Liquidity Queue** OpenSwap’s liquidity queues is a new approach to onchain liquidity that offers traders and market makers a novel and efficient mechanism for carrying out onchain trades. Onchain trades are growing exponentially since the introduction of Automated Market Maker (AMM) based DEXs due to the ease of listing new pairs and a straightforward pricing mechanism. However, all is not perfect with impermanent loss, lack of control for market makers and liquidity providers, and high transaction fees and price slippage for market takers. At the core of all DEX swaps are the pricing mechanism. AMM DEX’s base pricing off of predefined constant product formulas (i.e. x\*y=k) and arbitrage traders are incentivized to trade off the pool to keep it pegged to market prices. Although such a mechanism will reflect market pricing, it will only work for small volume trades due to the inherent slippage in the mechanism. As noted above, rather than simply refining AMM formulas for modest improvements, OpenSwap’s liquidity queue technology removes the one-size-fits-all approach of current DEXs. instead of a single pricing mechanism. OpenSwap believes that pricing should be based on individual use cases. As such, the liquidity queue base layer technologies can be shaped to create different queue types, with each queue type based on a different pricing mechanism. ### **Spot Price Queue** Spot Price Queue will enable trades to occur at spot-market prices obtained from decentralized oracles. This queue type uses a secure adaptor protocol that guards against many of the shortcomings of using oracles. The secure adaptor protocol includes a series of customizable circuit breakers that ensure that liquidity providers are protected against front-running or recent security exploits as trades that fail any of the circuit breakers will not be carried out. Spot Price Queue are designed for token pairs that have a well-established off-chain spot market price provided by oracles. Instead of using the oracles directly, OpenSwap has created a secure adaptor protocol to leverage oracle pricing in a controlled manner providing traders with the security of layered circuit breakers that guard against sudden price fluctuations, front-running, and compromised smart contracts. ![](/files/CCVNTbQqg9S4MPKOm0LP) The circuit breakers composes of but not limited to: Trade Value: Individual trades will be capped at a certain value, i.e. $10,000 at the initial phase of feature release. Secondary Pricing Variance: An additional reference price will be obtained from either another oracle source or exchange. If the oracle price exceeds a certain threshold (i.e. 1%) then the circuit break will not enable the trade. The secure adaptor protocol allows for an unlimited number of circuit breakers to be added in, and it is also possible for circuit breakers to leverage data passed from the DApp. New adaptors can be voted into place via the governance portal to support new token pairs and to support new strategies for providing spot price trades. There are currently two sub-types of Spot Price Queue: **Spot Priority Queue** A sub-type of Spot Price Queue is designed for traders seeking to exit out of a position quickly, and at spot market price. Priority can be achieved through staking OSWAP tokens. The order with the highest amount of OSWAP tokens staked will be sold first. Traders can also set an expiry date for their orders so that no more will be sold after a certain time (if not already sold). #### Spot Range Queue A sub-type of Spot Price Queue that will provide the ability for liquidity providers to set price brackets on which to make their liquidity available for sale. Trading DApps reading into the liquidity queues can initiate trades using the liquidity as long as the market price is within the range set by the liquidity provider. The transaction price will be based on the existing spot market price. In both sub-types, liquidity providers joining the queues have the option of canceling or withdrawing their liquidity as long as it has not been swapped against yet. ### Restricted Group Queue Restricted Group Queue is a type of liquidity queue that can enable liquidity providers to offer a token at a specific price that can only be accessed by a defined group of user addresses. Based on the liquidity queue technology, Restricted Group Queue is designed with additional features and capabilities on the contract governing the liquidity queues. Similar to Spot Price Queue, each new pair on Restricted Group Queue would need to be voted into place through the governance portal. After the queue is voted into place, liquidity providers can define their own queues within the queue pair. ![](/files/fiCi7A0p0Gsl8HrFx0dg) User can make use of OpenSwap Restricted Group Queues’ key features for their DeFi use cases: #### Group Whitelisting: Make liquidity only available for defined addresses to swap against. #### Liquidity Allocation: Trade size allocations can be defined for all or specific members of a group. #### Defined Validity Period: Enable liquidity to be only available for a defined duration. #### Restricted Withdrawals: An option to lock liquidity in Restricted Group Queue to demonstrate that the liquidity is committed and cannot be withdrawn unless there were no takers during the validity period. These key features can open the door to many unique to DeFi and onchain use cases, including but not limited to: #### Onchain Private Sale Post-IDO projects who seek additional funding but do not want to suffer from project token price fluctuation can opt to temporarily sell a portion of their token allocation through OSPro’s onchain private sale offering powered by Restricted Group Queue. #### Guarantee Token Buyback New projects can use Restricted Group Queue to whitelist private sale, strategic round, or public round IDO participants along with a specific allocation to offer a token buyback for a specific period of time providing price assurance and boost investors’ confidence. #### Special Group Trade Offers Liquidity providers or traders may elect to offer certain assets at a specific price but only for a targeted group of counterparties. This can be done via Restricted Group Queue. ### Pegged Queue Pegged Queue is another usage of the liquidity queue technology where users can enable digital assets to always be priced based on a fixed ratio to another asset. Unlike the conventional practices where a stablecoin project would list and open up different AMM pools on various DEXs as a means to attract utilization and gain popularity, OpenSwap’s Pegged Queue can prove to be a more efficient solution for stablecoin project owners because this feature can: * Facilitate the stablecoin to any token swaps with zero slippage and transactional fees * Opens up the stablecoin to swapping with the maximum number of tokens * Help the stablecoin maintain their target pegs through a stabilized environment and mechanism * Offer the enablement of having the stablecoin to easily be partnered with other projects In addition, OpenSwap will be introducing a new solution that will matchmake a combination of different liquidity queue types, and be armed with the Hybrid Smart Router, to create a bespoke and tailored solution for stablecoin projects. # Hybrid Smart Router ### AMM DEX Environment The usage of AMM pools for DEX swaps had became the de facto way of swapping onchain. These onchain swaps heavily rely on liquidity provisioning by liquidity providers into AMM pools that are incentivized by activities like farming. Through simply reviewing the farming incentives offered to different pairs provides clues on what the market wants. Swappers in this day and age want to be able to swap against stablecoins, however, such AMM pools are also the ones that would be subjected to the most impermanent loss and few liquidity providers are willing to fund such a pair. As such, majority of the chains will use their native token (i.e. BNB, AVAX, MATIC, FTM) as the main AMM pairing so there is a greater degree of correlation with the target tokens. On Binance Smart Chain, this token is BNB - thus, on BSC DEXs, the usual top pairs are often BTC/WBNB, ETH/WBNB, CAKE/WBNB, and a key pair which is also funded is WBNB/BUSD, which is a key pair to enabling users to buy a token using a stablecoin. The drawback is that such swaps would require 2 hops, which would incur doubling of the transaction fees. In most cases on Pancake, a 2-hop swap would incur a transaction fee of 0.5%, which can be quite significant for large size or frequent swappers. ### **How Does Hybrid Smart Router Work** With the introduction of liquidity queue technology, market makers and market takers have a mechanism to carry out efficient spot market transactions on selected pairs, notably pairs involving stablecoins. Currently, DEX routers only work with their own AMM pools. Thus, as the below diagram illustrates, a 2-hop swap on Pancake would incur a transaction fee of 0.5% in addition to price slippage on both pools. ![](/files/xvTiNkYk9T8Ky2P2Xtl3) OpenSwap’s Hybrid Smart Router can help take the liquidity queues to the next level, by enabling the coupling of swap trades from AMM pools with liquidity queues, which can provide a clear advantage over ‘AMM-only’ approaches. Hybrid Smart Router is a set of smart contracts that identify potential swap paths leveraging both AMM pool and liquidity queue smart contracts. Based on the potential paths, it will be possible to identify the most cost-efficient routing based on the availability of liquidity queues and AMM pools. If no liquidity is required from the queues for the swap, then only AMM pool paths will be presented, and similarly if a single liquidity queue is all that is required to complete the swap, then only liquidity queue paths will be presented and used. Since liquidity queues offer clear advantages on stablecoin pairs such as BNB/USDT, it is envisioned that OpenSwap Hybrid Smart Router will best demonstrate its ability when swaps based on stablecoins are requested. In such a scenario, whether a user wants to swap into a stable coin or out of one, the Hybrid Smart Router will set up a multi-hop swap leveraging both AMM pools and liquidity queues to provide the best possible and lowest possible options for the swapper. ### Integrating with Hybrid Smart Router It is envisioned that OpenSwap Hybrid Smart Router will serve as one of the key gateway to liquidity queues and AMM pools, as such, OpenSwap will continuously work to integrate with additional wallets and aggregators through partnerships, as a means to extend the reach of onchain liquidity options. ![](/files/EbA1IDdY1U0MTdIUF1RZ) # OpenSwap Bridge ### Crosschain Environment The goal of crosschain bridging and swapping is one of the longest ongoing topics of interest in the DeFi space. As we progress into the multichain landscape, the enablement of changing assets across different chains has become an important fundamental necessity. In the current crosschain environment, the most typical approaches that are being utilized are: Lock and Mint Synthetics - A method used by the likes of Binance Bridge and Multichain (Anyswap), where native tokens are given to a centralized custodian who in turn mints a synthetic version of the token on a target blockchain. The decentralized version requires usage of decentralized custodians that are properly incentivized to behave appropriately. Majority of crosschain bridges are of the Lock and Mint variety, the difference mostly lies on how true decentralization is actually achieved, and also the bridge operators’ approach on key security. Crosschain Liquidity Pair Pool - A method experimented and led by the likes of Throchain, whereby liquidity providers stake paris consisting of a native token with Thorchain’s RUNE token into pools, and Throchain routes swaps leveraging the common RUNE token to facilitate crosschain swaps. With this approach, swappers are able to receive native tokens on the target chain instead of synthetics. While these conventional approaches are moderately acceptable in the current nascent stage market, there are still many critical issues that need to be addressed, such as slow in speed, expensive costs, high complexity, and the proliferation of synthetics of the same underlying assets. ### **How Does Open Interchain Protocol Work** Open Interchain Protocol is introduced as a solution that offers more efficient crosschain swapping of chain-native assets through the usage of single asset vaults and a basket of decentralized mechanisms. With the incorporation of other OpenSwap technologies like liquidity queue and hybrid smart router, Open Interchain Protocol will form a fully transparent and capital efficient end-to-end crosschain swapping solution. ![](/files/VXz5GT0H4Ui3WoNLzjOm) Designed to be decentralized and easily extendable, Open Interchain Protocol along with all the key components can be quickly moved to additional EVM compatible chains through a simple deployment of the set of contracts onto the new chain. Initially, the protocol will support Binance Smart Chain and Ethereum, and will soon be followed by popular and trending EVM compatible chains such as Fantom, Polygon, and Avalanche. ![](/files/FC6eOSNVu0rbnRUyHlRS) The key concept that makes Open Interchain Protocol different and better than conventional crosschain bridging models is the use of Single Asset Vaults. These are vault smart contracts that exist on blockchains that are supported by OpenSwap. They enable liquidity providers the opportunity to put their digital assets to work without having to worry about impermanent loss. These vaults will be considered as 1:1 representatives of the bridge tokens on the different chains. ![](/files/jaEupFk2rQsnt4JH6JR5) Enabling Open Interchain Protocol to release a corresponding amount of the target chain’s version of the token once the source chain’s tokens are confirmed to be successfully deposited. ![](/files/rKSxW8CBg89sk84XHEOY) A key feature of these smart contracts is the dynamic multisig feature that governs the release of funds. Funds can only be transferred out of a vault if it is signed by a multiplicity of bridge trolls. A set of rules governs how transactions are signed based on the size of a transaction. Essentially, the number of signers required will be proportional to the swap transaction size ensuring that bonded staked sufficiently cover the swap transactions so that malicious behavior can be mitigated. During the initial feature rollout, it is anticipated that the majority of the bridge vaults will be for stablecoins such as USDT, DAI, BUSD, and other native chain tokens such as BNB and ETH. # Bridge Trolls At the core of Open Interchain Protocol, is the concept of Bridge Trolls. Bridge Trolls are essentially node validators who perform the tasks of monitoring the protocol for transaction requests, verifying, and signing transactions to carry out the withdrawal of funds on different blockchains. In order to ensure that Bridge Trolls behave appropriately, they need to stake bonds in the form of the native OSWAP tokens which are put at risk if they carry out inappropriate actions. In return, Bridge Trolls will be compensated a portion of the bridge fees (transaction fees) for helping to carry out the crosschain activities. There are two types of Bridge Trolls in the Open Interchain ecosystem: ![Green Troll](/files/hbjmGtwgb5TMtNlNYNhd) ![Mean Troll](/files/HXszIQSrkIQZh5x7qHLD) #### Green Troll Anyone who holds an OpenSwap Bridge Troll NFT can become a Green Troll by running the Bridge Troll node software, and staking the qualifying OSWAP stake on the primary chain. The core duty of a Green Troll is to help verify and sign bridge transactions assigned to them. The number of Bridge Trolls involved in a particular transaction will depend on the size of the transaction. The larger the transaction, the more Green Trolls are needed to be assigned to validate the crosschain transaction. In return, the signing Green Trolls will receive a portion of the bridge fees. #### Mean Troll Mean Trolls are upgraded from Green Trolls. To become a Mean Troll, the user will be required to stake a large amount of OSWAP token as qualification stake, and in return for carrying out additional responsibilities, Mean Trolls will be eligible for a greater share of the bridge fees. TO be trusted to carry out these additional responsibilities, every Mean Troll needs to be voted into place by the bridge community, and may require a specific Bridge Troll NFT key to serve this role. In addition, Mean Trolls need to post a bond on each chain to be eligible to participate in withdrawal tasks, and their assigned transactions are based on their ability to cover the transaction amount with their bonds. # Dynamic Multisig Withdrawal Funds in bridge vaults are released based on a dynamic multisig arrangement whereby the following sets of rules needs to be satisfied before funds will be released: * The cumulative bond of the Mean Trolls that signed the transaction must exceed the value of the withdrawal transaction * All of the signers are active Bridge Trolls and in good standing * The number of Green Troll signers based on transaction size of signers. A set formula will define the number of Green Trolls that also need to sign as transaction sizes increase. Any malicious transactions created or signed will result in the loss of bonded OSWAP from the participating Bridge Trolls, and be immediately disqualified. # Primary Chain Open Interchain Protocol is designed to be easily extendable by simply replicating the smart contracts on new EVM compatible chains. However, there are certain functionalities that only need to be done once (i.e. the registration of a Bridge Troll), thus, the concept of a Primary Chain is established. A specific blockchain will be selected as the Primary Chain, meaning that for certain features, that chain’s smart contracts will behave as the master, and the other secondary chains will serve as replicates. This feature mainly applies to Bridge Troll registry, and Bridge Troll qualification stakes. During the initial feature rollout, the primary chain will be defined as the Binance Smart Chain, however - this can be transitioned as the bridge community deems fit. # Bridge Troll Selection Algorithm The Bridge Troll selection process is based on the two concepts: #### **Fuzzy Round Robin** Instead of enforcing a strict round-robin selection of Bridge Trolls for signing and transaction creator, a rule stating that a Mean troll must have a gap of at least X transactions before they can be transaction creators again serves as a fuzzy round-robin that provides flexibility for unavailable Bridge Trolls. (i.e. if the total number of Mean trolls was 10, this X could be set to 8 to enforce a type of fuzzy round-robin). #### **Lead Troll Election** Every cycle the Mean Trolls will carry out an internal election to identify a new Lead Troll. Each blockchain will have its own Lead Troll and it is possible for a Mean Troll to be simultaneously elected as a Lead Troll on multiple chains. Only Bridge Trolls available during the election will be able to be elected, and the Lead Troll has the responsibility of monitoring other chains for new transactions involving the chain that the Lead Troll is carrying the lead responsibilities for. # Staking & Farming Program ![](/files/CAMVbup3cWBzCMN4Iw1p) OpenSwap offers multiple staking and farming opportunities to our users periodically. Community members can stake your LP tokens and earn OSWAP tokens in return. We will continuously incentivize many liquidity pairs by offering our liquidity providers the chance to stake their LP tokens in our farms. Upon the launch of OS Pro, users can also participate in projects-driven staking and farming programs where there will be an opportunity to swap LPs to receive discounted project tokens. # NFT Loyalty Club ![](/files/y3GAFmIkYJCLDrBfiSt0) OpenSwap offers an innovative way for users to show their support and loyalty to their beloved projects through staking project tokens in the OpenSwap NFT Loyalty Club to mint unique NFTs that would represent the loyalty to the supported project. Projects may offer additional perks in the form of APR reward boost, community airdrops, periodic payouts, and customized NFT utilities, to ensure users and community members will continuously support them and their missions. Furthermore, these NFTs can be used in synergy with the project’s staking and farming campaigns held on OpenSwap, loyal project supporters who hold these project NFTs will get the maximized incentives. # What is OS Pro? The OS Pro is a specialized subdivision-operated portal under the greater OpenSwap ecosystem where the specialized team focuses on helping projects and protocols with end-to-end liquidity solutions. OS Pro’s basket of self-serviced offerings can help projects establish funding and sustainable token health. Many of these will have access points from the OpenSwap main platform for DeFi users to partake, contribute to, and benefit from these offerings. # OS Pro Roadmap ![](/files/hUEabRv6ajFBiNzv1Zui) # Current Liquidity Landscape In this day and age, it is a norm for projects to carve out a sizable portion of their token supply as a means to incentivize liquidity providers. The backlashes that come with this norm will harm the project’s sustainability in the following ways: #### Sell Pressure Inflationary token emission is an immediate and short-term approach that carries increased sell pressure on farm tokens as a bi-product. Liquidity providers (LPs) who are there only for the gains will more often than not sell the rewards as the most direct means to compensate for the investment. Conventional solutions such as the likes of time-locked staking are not the most optimal because it still doesn’t relieve the core pain points but is just kicking the can down the road. #### Miscoordination Liquidity providers are driven not by belief in the project but are incentivized by the lucrative rates. Therefore, more often than not, when LP rewards reach the point of exhaustion, they will simply eject their capital for another opportunity with a different project. #### Lack of ‘Buyer of Last Resort’ In traditional banking, the central banks are usually lenders of last resort, when there is a financial meltdown and a bank needs funds immediately and has no other options for funding, they would turn to the central banks. In crypto, when the market is bad, liquidity providers would rush to exit their position and pull out their liquidity. However, these moments are usually those when the project needs liquidity the most for price stabilization. In addition, the high trading volume would incur higher trading fees for the liquidity providers. #### IL for Liquidity Providers A project’s success would often mean an increase of project token value, which would result in creating a scenario of impermanent loss for the LPs. This kind of miscoordination can prove to be disincentivizing long-term liquidity providers, even if they are there for the long haul. They might be reluctant to provide liquidity if they think that providing liquidity is not as profitable as holding the token. ![](/files/VHZFJ7CuBzfj2mxy3hBS) # OS Pro Advantages for Token Projects #### Liquidity ownerships Projects will now own or have a trusted partner providing the liquidity. This mitigates the problems associated with retail, mercenary liquidity providers. #### **Realignment of goal between Protocol and liquidity providers** In traditional farming, liquidity providers can leave anytime after getting the reward. This is a problem because when the incentives exhaust, they can leave, draining the liquidity. With bonds and Liquidity as a Service(LaaS), these liquidity providers, the protocol and stable coin partner respectively, are much more reliable and want the project to be successful. #### Price stability With the help of bonding and LaaS, the liquidity of the protocol builds up and deepens. This allows bigger trades with lower slippages, making it more appealing to trade. #### **New Revenue Streams** If a protocol decides to use our bond market, it will then control its own LP. By depositing these LP tokens into an AMM pool, it will also earn trading fees. #### **Funding injection without immediate token price impact** If a protocol chooses to use our On-Chain Private Sales or the Bond Market, it can receive funding from different parties in exchange for its tokens. Even though such events can be considered inflationary, there are vesting periods varying from days to months, and in these periods, investors would have no incentive to dump the tokens. # OS Pro Advantages for DeFi Users #### More tokens at a lower price The tokens sold by On-Chain Private Sales are usually a lower price and guaranteed by a buy-back queue. Whereas in the case of bonding, a discount would be offered by the protocol in order to attract investing. In both cases, investors could often get more project tokens under the market price. #### No impermanent loss Same as 1), if investors choose to take part in Pn-Chain Private Sales, impermanent loss either does not exist and is borne solely by the protocol. #### Ensured liquidity If a protocol chooses to use our Bond Market or Liquidity as a Service (LaaS), the liquidity depth would be deepened by that service. Users can trade for those tokens more freely. #### Lower slippage Same as 3), protocols that use the mentioned services could build up its liquidity. With higher liquidity, the slippage of each transaction is lowered. # OS Pro Offerings # On-Chain Private Sales An end-to-end on-chain solution for projects to facilitate sales rounds. The offering targets private or whitelisted buyers. Projects can then choose to set different parameters for these sales rounds such as price, vesting, potential secondary market and buybacks. Projects using this offering can raise funds without immediate sell pressure. After the project decides to set up a round of On-Chain Private Sales, OS Pro would provide the values to enter to write a smart contract including a list of whitelisted addresses. Then, these whitelisted users can opt to deposit tokens to take part in these sales. If there is a buy-back guarantee, part of the deposit will go to our collateral escrow contract and rest, minus fees, will go to the project, otherwise, all of the proceeds, minus fees, would go to the project. ![](/files/F7sVQSaMPsosV64Bm2eL) # Liquidity as a Service Projects in the earlier stages often face difficulty securing funds to provide liquidity for their project token. The common method of relying on retail liquidity providers is proven to be costly and unsustainable due to the high amount of incentives required to attract them. Leveraging the connection of OpenSwap, a network of stablecoin partners is established. Projects teams are only required to provide project tokens for the AMM pair and our stablecoin partners would provide stablecoins for the other pair. This LP would then be deposited to (an) AMM pool(s), deepening the liquidity and earning trading fees. In the offering, stablecoins providers would earn fixed liquidity incentives provided by the project, shielded from impermaninment losses while the project side can have a vairing and higher yield than the stablecoin side. Retail investors can participate in this liquidity service on either or both sides if the projects wish so. The duration of the services varies from weeks to months. # Bond Marketplace As mentioned under the section 'Liquidity as a Service’, newer projects may have problems with their liquidity. This service is a different approach to solving this liquidity problem. Projects are to provide project tokens at a discounted rate where people or projects can get by bonding tokens, usually an LP token consisting the project token and a stable coin or a native chain token like ETH or AVAX. If this is an LP token then it is usually deposited into (an) AMM pool(s), bringing a new revenue stream for the project as well as deeping the liquidity. The vesting period of the bond varies, chosen by the project, usually 7 days. The vesting method can also be different with examples such as linear or cliff. The bond prices can be fixed or dynamic set determined by our algorithm. Projects can also choose to do this bond offering publicly or privately with partners. If a project is interested in this offering, it can contact the OS Pro team for guidance to set up the smart contract properly with the desired parameters. This can be used to ease selling pressure. # NFT Loyalty Club An innovative way for projects looking to increase community engagement. OS Pro will help the project setting up NFTs that can be redeemed after staking a certain amount of project tokens. These NFTs can be generated with Chainlink’s VRF to ensure the randomness. Projects can decide if these NFTs can provide additional perks and rewards to improve its desirability. An example of these NFTs would be OpenSwap’s very own Bridge Trolls NFTs. The perks of these NFTs include an APR boost in staking, occasional airdrops etc. And the utility of these NFTs would be that the holders can serve as a validator in our upcoming Open Interchain Protocol. # Staking & Farming Traditional staking is available on OpenSwap for projects to lock up tokens to control supply while offering rewards to stakers. OS Pro can help projects set up these vaults with tokens and potentially help projects depositing them into AMM pools if it is an LP token so as to help build up the liquidity. This can be used in conjunction with the NFT Loyalty Club to provide additional rewards for the loyalest of supporters. As with our other offerings, the parameters are very flexible. The projects can choose the reward rate, token types, where the token is deposited to, optional locking and vesting etc. # Governance Model Decentralized governance has always been part of the design of OpenSwap since its inception. From launch, a Governance Portal was available and still is to let token holders transparently govern the protocol. Upon day 1, the OpenSwap team have been serving as a ‘Transparent Guardians’, utilizing the Governance Portal to carry out all key decisions on the protocol. For this to happen, a defined 20,000,000 OSWAP tokens was minted and locked into the Governance contrac, enabling the OpenSwap team to carry out governance. These tokens will never be in circulation and its only purpose is to ensure an ample amount of tokens for protocol governance. The Emergency Administration council is also a part of the model. Community members can be voted into this council where they can take the following 3 actions: Emergency Pause or Shutdown of the part or all of the system. Emergency Restart Veto an Executive Proposal during the vote and the execution delay. This council has a simple voting system where they agree to an action if a majority of 50%+(out of all the tokens the councilors hold) is reached. # Proposals & Voting There are 2 types of proposals: Poll Proposals and Executive Proposals. These proposals are the backbone of OpenSwap’s decentralized governance, dictating the day-to-day operations and the overall direction of OpenSwap. **Poll Proposals:** They are proposals that OSWAP token holders can create to give guidance on the overall direction of OpenSwap. This kind of proposal is time-based and the option with the most votes wins. However, it should be noted that they are only for guidance. Actual changes would only take place after the OpenSwap Team implements it. An example of Poll Proposals would be the one taking place during January 2022, where the OpenSwap team started a poll asking our token holders which chain should the platform expand on next with the winner being Avalanche. In the weeks after the poll is over, OpenSwap team successfully deployed our DEX aggratetor on Avalanche and is planning to bring even more features on that chain. The minimum threshold of creating a Poll Proposal is 100,000 OSWAP token (subject to change). **Executive Proposal:** Compared to Poll Proposal, this type of proposals can incur actual changes to the Dapp. It is usually preceded by Poll Proposals. An Executive Proposal also needs to pass a quorum threshold (20,000,000 subject to changes) so as to make sure that the community agrees with the changes. The proposals would be aborted if the quorum is not reached and a majority is not reached. These proposals link to a smart contract when it passes the quorum thresholds. When the proposal passes, a minimum 24 hour delay period would take place, allowing the vetting of the code and giving the Emergency Administrator council to determine if the proposal is malicious. The council can execute an Emergency Pauses that is not subject to the 24 hour delay if it deems the proposal malicious. In the case where the council finds no issues, the contract would automatically implement the changes on the Dapp. The minimum threshold of creating an Executive Proposal is 1,000,000 OSWAP token (subject to change). The list of possible actions for the Executive Proposal is ever expanding. Here we would be listing a couple of them: Modify Oracle (for the queues) Modify System Parameter Add/Remove Admin Modify Security Oracle Score Set Whitelist Set Voting Executor Register Protocol Modify restricted oracle ### **Voting Guide** **Step 0:** If you don’t already have some OSWAP, get some now. OSWAP tokens are currently traded at PancakeSwap, IF Swap, MEXC, and OpenSwap. **Step 1:** Go to [**https://openswap.xyz/#/governance**](https://openswap.xyz/#/governance) ![](/files/FRcZCKrI2xdpiZeyxgxS) **Step 2:** Click the “Manage” button to manage your voting balance ![](https://lh6.googleusercontent.com/PfIbtctecYeO79oZwSregIfbG4J3VQukCMHlB_aH8LYGi13qs3qPVSBLIZp7pgoCNK4kZph8jGIgrQLD-IeVQlctr537t-jo2lcgqgikH1ecOnjPKlSh0ckvtYTiP3QIf0L4zWMi) **Step 3:** Approve OSWAP ![](https://lh6.googleusercontent.com/xTufae-BBHVaPvvFqiEZhVwTf-q8YfuAL-xFXxz1p4Krp3XhyNWDL7zLl_Kgn4KO-HZRKcMC_AKNdCbqelvbCyNg77HMS2rvOvs3w1Eh-QKzvaVn7YVWy0BXeOA2hu1dgWH3AETM) **Step 4:** Add the amount you want to stake to the contract You do this by clicking “Add Stake” then enter the amount and press “Confirm”. Please be reminded that you have to stake the balance for 7 days before you can vote. ![](https://lh6.googleusercontent.com/BQY4kuQG3HbcUsG7s6ti-jYHMgwNloQd-O3PMRDdTQVvx6zO1WO_xaerzrF7FX4P6gzHlpp3RfHVMFf2T07sZ_HeDgSTfVsPRhjd85biQ72oICN7zeXCqwAJHt4dKBcCXG94-_FS) **Step 5:** Click the Manage button again when your stake is available (7 days after staking). ![](https://lh5.googleusercontent.com/KD6ohoog8ECMZAqIJ0avWDt6rAmgJhaIaQV9uhJHJaN3SsG8b5uiP59HL4ZxlquVR1zklkgFvy5d-ysoziDhQV8vykGlChZdqlQ9kokh5R9ldxd2oREcMZYMUlA1TRTKGUu73UUA) **Step 6:** Unlock your voting balance. ![](https://lh4.googleusercontent.com/IUNEwZl611WCbqkDj-swLzgJ0j8eTkbKoiUawSnja6dP0VguhSkDfouy38kLdeKLX8V5AzVkhV-ZFUm2AY90-6OJHCNn7Rb5mXw3XsLCQMtIq4_Z2WarlUoX2cO-8VmulHQm-Scl) **Step 7:** Visit the Poll details (when it is available). ![](https://lh5.googleusercontent.com/rPoxH7PORCwlmjD-fPXzYosWNv37D5BflTMu541HhWIjAy-nwQPVB1zD_v27fta4LaaqiCfj7GtYJF0o7qKI2IXuiCd_40_e8rHLiyVWXGv5VEGAbnbHozZ_upUHjhQpcmsowJqc) **Step 8:** Cast your vote! ![](https://lh4.googleusercontent.com/FCCIX3ZktF5BAJt2GolYCWGHIgtH_b_U8t4JJWPEdoK_-T_Mh15mosM3sKQqYBVELXiqwUZ3US79m5IARlfC-i9wL8vsDn9BUCPUj4ECyu4HNuBcH2wG7YNbPsDXwMGcQlC9Cl0J) # Contract Most things that happen on-chain are powered by smart contracts. It would, ideally, make sure that every action is going according to plan. For example, staking or swapping are actions that would require “using”(writing) smart contracts. OpenSwap happens to be an OpenSourced platform. This means that our end-goal is to have all of our deployed smart contracts are available on Github and BSC scan. Right now, our core contracts can be viewed on github with this link: [**https://github.com/openswapdex/openswap-core/tree/master/contracts**](https://github.com/openswapdex/openswap-core/tree/master/contracts) # Framework # BSC Framework **Smart contracts - OAXDEX\_Governance** [https://bscscan.com/address/0x510a179AA399672e26e54Ed8Ce0e822cc9D0a98D](https://bscscan.com/address/0x510a179AA399672e26e54Ed8Ce0e822cc9D0a98D) **Smart Contract - OAXDEX\_VotingRegistry** [https://bscscan.com/address/0x845308010C3B699150Cdd54dCf0E7C4b8653e6B2](https://bscscan.com/address/0x845308010C3B699150Cdd54dCf0E7C4b8653e6B2) **Smart Contract - OAXDEX\_Factory** [https://bscscan.com/address/0x0625468f8F56995Ff1C27EB6FD44ac90E96C5D22](https://bscscan.com/address/0x0625468f8F56995Ff1C27EB6FD44ac90E96C5D22) **Smart Contract - OAXDEX\_Administrator** [https://bscscan.com/address/0x667AE7A348610d42d9955d1b43868683A34b1AAb](https://bscscan.com/address/0x667AE7A348610d42d9955d1b43868683A34b1AAb) **Smart Contract - OAXDEX\_VotingExecutor** [https://bscscan.com/address/0x61dD8885F8adA39ba61f04EBe3aD540bbE670d4b](https://bscscan.com/address/0x61dD8885F8adA39ba61f04EBe3aD540bbE670d4b) **Smart Contract - OAXDEX\_VotingExecutor1** [https://bscscan.com/address/0x308c0bDD77EaBcdbDE5bd5EfDf5a97Bc9b3237DC](https://bscscan.com/address/0x308c0bDD77EaBcdbDE5bd5EfDf5a97Bc9b3237DC) **Smart Contract - OAXDEX\_Router** [https://bscscan.com/address/0x50f5679F0CeF71287bD9C7e619960fF9C579661C](https://bscscan.com/address/0x50f5679F0CeF71287bD9C7e619960fF9C579661C) **Smart Contract - OSWAP\_HybridRouterRegistry** [https://bscscan.com/address/0x04b7f0cE9FE9Fe4c6ad2a887a8dc6b04f35BBFfa](https://bscscan.com/address/0x04b7f0cE9FE9Fe4c6ad2a887a8dc6b04f35BBFfa) **Smart Contract - OSWAP\_HybridRouter2** [https://bscscan.com/address/0x26CF1291c6DBd4F1023e24c68044FAaC7f4F184E](https://bscscan.com/address/0x26CF1291c6DBd4F1023e24c68044FAaC7f4F184E) **Smart Contract - OSWAP\_OracleFactory** [https://bscscan.com/address/0x8CB1fEE69f7F8f00efd5d47067eb75C19cd40017](https://bscscan.com/address/0x8CB1fEE69f7F8f00efd5d47067eb75C19cd40017) **Smart Contract - OSWAP\_OracleRouter** [https://bscscan.com/address/0x8Af3e8596acE65D9c1EDE6d5356a34eAb46a46f5](https://bscscan.com/address/0x8Af3e8596acE65D9c1EDE6d5356a34eAb46a46f5) **Smart Contract - OSWAP\_OracleLiquidityProvider** **Smart Contract - OSWAP\_VotingExecutor2** [https://bscscan.com/address/0xfA9f979e05A0E5A2F6eF08Bb8B7C36616a86c154](https://bscscan.com/address/0xfA9f979e05A0E5A2F6eF08Bb8B7C36616a86c154) **Smart Contract - OSWAP\_RangeFactory** [https://bscscan.com/address/0xE31e10f0f3f65a4aFe510C460Cda0f9392Fb0e99](https://bscscan.com/address/0xE31e10f0f3f65a4aFe510C460Cda0f9392Fb0e99) **Smart Contract - OSWAP\_RangeLiquidityProvider** [https://bscscan.com/address/0xd9C031db7D613E4977237Bd681Dd1941A36Cdb98](https://bscscan.com/address/0xd9C031db7D613E4977237Bd681Dd1941A36Cdb98) **Smart Contract - OSWAP\_VotingExecutor3** [https://bscscan.com/address/0x22937e50C09fcb59532a379472Ab78Dc556afA3b](https://bscscan.com/address/0x22937e50C09fcb59532a379472Ab78Dc556afA3b) # AVAX Framework **Smart contracts - OAXDEX\_Governance** [https://snowtrace.io/address/0x845308010c3b699150cdd54dcf0e7c4b8653e6b2](https://snowtrace.io/address/0x845308010c3b699150cdd54dcf0e7c4b8653e6b2) **Smart Contract - OAXDEX\_VotingRegistry** [https://snowtrace.io/address/0x0625468f8F56995Ff1C27EB6FD44ac90E96C5D22](https://snowtrace.io/address/0x0625468f8F56995Ff1C27EB6FD44ac90E96C5D22) **Smart Contract - OAXDEX\_Factory** [https://snowtrace.io/address/0x667AE7A348610d42d9955d1b43868683A34b1AAb](https://snowtrace.io/address/0x667AE7A348610d42d9955d1b43868683A34b1AAb) **Smart Contract - OAXDEX\_Administrator** [https://snowtrace.io/address/0x88087c1528fFDfF0567261cF688c7123765a5beF](https://snowtrace.io/address/0x88087c1528fFDfF0567261cF688c7123765a5beF) **Smart Contract - OAXDEX\_VotingExecutor** [https://snowtrace.io/address/0x61dD8885F8adA39ba61f04EBe3aD540bbE670d4b](https://snowtrace.io/address/0x61dD8885F8adA39ba61f04EBe3aD540bbE670d4b) **Smart Contract - OAXDEX\_VotingExecutor1** [https://snowtrace.io/address/0xD88Bd19D64d832Cd691F19e002cc6BA081bA4768](https://snowtrace.io/address/0xD88Bd19D64d832Cd691F19e002cc6BA081bA4768) **Smart Contract - OAXDEX\_Router** [https://snowtrace.io/address/0x56131021109f14E766E96a5E7c1294D351e9dFc5](https://snowtrace.io/address/0x56131021109f14E766E96a5E7c1294D351e9dFc5) **Smart Contract - OSWAP\_HybridRouterRegistry** [https://snowtrace.io/address/0x77B34ceDe3214769F7A50db12F8489766E9F741c](https://snowtrace.io/address/0x77B34ceDe3214769F7A50db12F8489766E9F741c#code) **Smart Contract - OSWAP\_HybridRouter2** [https://snowtrace.io/address/0xcD2A608Ec4B6526407D2830543dC944CF22cc663](https://snowtrace.io/address/0xcD2A608Ec4B6526407D2830543dC944CF22cc663) **Smart Contract - OSWAP\_OracleFactory** [https://snowtrace.io/address/0x67c314DC938049150F4c162032bb9645c202Ba71](https://snowtrace.io/address/0x67c314DC938049150F4c162032bb9645c202Ba71) **Smart Contract - OSWAP\_OracleRouter** [https://snowtrace.io/address/0xca62Dc811D78B6760637A5E97A6021282863F0B6](https://snowtrace.io/address/0xca62Dc811D78B6760637A5E97A6021282863F0B6) **Smart Contract - OSWAP\_OracleLiquidityProvider** [https://snowtrace.io/address/0x26C04EadD7913e681693a42CC881536622eB4317](https://snowtrace.io/address/0x26C04EadD7913e681693a42CC881536622eB4317) **Smart Contract - OSWAP\_VotingExecutor2** [https://snowtrace.io/address/0xb696B08893c862832a6cA1e5a4C9004deb4069A2](https://snowtrace.io/address/0xb696B08893c862832a6cA1e5a4C9004deb4069A2) **Smart Contract - OSWAP\_RangeFactory** [https://snowtrace.io/address/0xEfeAD058e3a16272FD61D978e54D6c7039ae828E](https://snowtrace.io/address/0xEfeAD058e3a16272FD61D978e54D6c7039ae828E) **Smart Contract - OSWAP\_RangeLiquidityProvider** [https://snowtrace.io/address/0xaDDD8F7aAd6a847e547C56Af19e9d6b443c2f403](https://snowtrace.io/address/0xaDDD8F7aAd6a847e547C56Af19e9d6b443c2f403) **Smart Contract - OSWAP\_VotingExecutor3** [https://snowtrace.io/address/0xcd3e984cdE988C24d5009296e4eDE14b89aE6e29](https://snowtrace.io/address/0xcd3e984cdE988C24d5009296e4eDE14b89aE6e29) # Bug Bounty In order to provide extra incentives for our community to review and protect the integrity of our smart contracts, OpenSwap has partnered up with Immunefi to provide this Bug Bounty. White and grey hat hackers among us can report vulnerabilities in the protocol in exchange for the rewards. This program will offer up to $50,000 to anyone who can find viable and actionable vulnerabilities in OpenSwap’s code. The submission of a bug can be done by going to OpenSwap’s tab on Immunefi here, Examples of issues would be the ones related but not limited to: * Thefts and freezing of digital assets or unclaimed digital assets * Theft of governance funds * Governance disruption More details can be found in the page linked above. # Risks As OpenSwap is in Beta, please use it at your own discretion. Remember to DYOR (do your own research). OpenSwap establishes trust with the community through 3rd party audited smart contracts and have protocol parameters transparently managed through a governance portal from launch. Learn more about OpenSwap before you connect to your Metamask. As always, don’t put more than you can afford to lose. # Audit Report Even though OpenSwap is still in beta, we want our contacts to be as solid as possible. This is why our contracts are audited by Certik, a leading blockchain security audit firm that combines manual testing, static analysis, and formal verification for the most robust smart contract security in the industry. You can access the audit report here: The current coverage includes OpenSwap’s contract vulnerabilities for Liquidity Queues deployed on BSC. Exploits resulting in asset loss would qualify for a valid claim. As OpenSwap expands onto other chains and releases more features, we would continue looking into insurance options so as to safeguard our users’ funds. For more details, please refer to Tidal Finance’s website, . # Insurance OpenSwap has partnered with Tidal Finance to cover our users fund. We have purchased $1 million USD worth of coverage through Tidal to cover our protocol’s safety. In the case of payout, the amount will be paid directly to the OpenSwap Team and after that, the team will distribute that amount to affected users. The current coverage includes OpenSwap’s contract vulnerabilities for Liquidity Queues deployed on BSC. Exploits resulting in asset loss would qualify for a valid claim. As OpenSwap expands onto other chains and releases more features, we would continue looking into insurance options so as to safeguard our users’ funds. For more details, please refer to Tidal Finance’s website, . # Open Interchain Protocol #### What is the Open Interchain Protocol? The Open Interchain protocol is introduced as a solution that offers more efficient inter-blockchain swapping of chain-native digital assets through the usage of single-asset vaults and decentralized mechanisms. It is a single-asset cross chain bridge. #### How is Open Interchain Protocol different from other crosschain bridges? Typical crosschain bridging approaches that are being experimented with are “Lock & Mint Synthetic” and “Crosschain Liquidity Pair Pool Model”. By far the easiest to implement is the centralized version of the “Lock & Mint” where native tokens are given to a centralized custodian who in turn mints a synthetic version of the token on a target blockchain. The decentralized version requires the usage of decentralized custodians that are properly incentivized to behave appropriately. The majority of conventional crosschain bridges are of the “Lock & Mint” variety, the difference mostly lies on the different way in achieving true decentralization and the approach of key security. The crosschain liquidity pool model involves liquidity providers stake pairs consisting of a native token and platform token into pools, and the platform routes swaps leveraging the common platform token to facilitate crosschain swaps. In this approach, swappers are able to receive native tokens on target chain instead of synthetics. These conventional crosschain bridging approaches are moderately acceptable but face issues such as being slow in speed, involve high costs, complexity, and the proliferation of synthetics of the same underlying asset. With Open Interchain Protocol, we ofer more efficient crosschain swapping of chain-native digital assets through the usage of single-asset vaults and decentralized mechanisms. # Liquidity Queue #### Who audited the contracts for the liquidity queue technology? OpenSwap’s initial set of smart contracts have been audited by CertiK and our secure adaptors are also audited and running under the “CertiK Shield” program. In addition, the smart contracts have also been successfully peer-reviewed by seasoned industry experts. As new features and contracts are added, we will continue to ensure that audits are carried out. #### **For Spot Price Queue, are all Oracles from Chainlink?** OpenSwap’s secure adaptors (SAs) can connect with any oracle provider. Our initial set of secure adaptors will pull pricing data from ChainLink; however, new (SAs) can be created and as long as they pass a security audit and receive a security score, they will be eligible for the community to vote them into place. #### **How can front-running be prevented on the Spot Price Queue?** Circuit breakers within the SAs will focus on preventing front-running. A key approach OpenSwap will initially use, is to do a check that the oracle price is within a certain threshold of a secondary pricing source that will be more real-time (i.e. Pricing from a leading DEX or CEX). In events of sharp market rises or drops, trades will not be consummated. #### **How can I know how much OSWAP I need to stake to obtain priority on Priority Queue?** When creating a queue order on the OpenSwap DApp, you will be provided information on your queue position based on the # of OSWAP that you propose to stake into the order. #### Can other projects use the Secure Adaptors? Yes. The secure adaptors are part of a larger framework called the secure adaptor protocol which provides a structured way to package up oracles into a safe building block for DeFi projects. #### Can other projects access the OpenSwap liquidity queue? Yes, it is possible. For security reasons, only whitelisted contracts will be able to interact with the liquidity queues. The whitelisting is managed through community governance, so any project can stake OSWAP and propose to add themselves into the whitelist. #### How does the liquidity queue concept compare to order books? Order books by their nature facilitate price discovery through bid and ask orders and the exchange uses order matching technology to consummate trades. In the case of our Spot-Priced Liquidity queues, they behave more like a decentralized OTC desk. The Spot-Priced queues do not do price discovery and rely on a secure adaptor mechanism that uses either oracle provided spot prices or market-maker-defined offers to enable trades. In the case of pegged queues and group queues, it can be said that they can be considered a ‘flat priced’ order book. In the case of Offer-Priced queues, the ‘offers’ have a resemblance to order books, but the matching mechanism more resembles an OTC RFQ process. #### Can Priority Queue be visualized as FIFO OTC order books? Yes, this is a way to look at it. Essentially, market makers are providing their liquidity to be sold at the current market price but it may take some time for the trade to occur based on the demand from the taker-side and position on the queue. #### Can I “mine” liquidity queues by participating on both sides of the queue to earn transaction fees? Yes, it is possible and in fact, our protocol allows liquidity providers to have their trade proceeds enter into the opposite queue so that the provider’s liquidity can cycle back & forth between the 2 sides of a pair’s queues with the primary goal of earning transaction fees. Our platform supports this, but it is up to the risk tolerance of the liquidity provider whether they want to use this feature as it may result in impermanent loss. #### What happens to Spot Price Queues when there is extreme volatility in the market? For all the ‘spot market’ queues, the secure adaptors are expected to have circuit breakers in place to stop trades when the Oracle price goes beyond a certain threshold of other reference prices (i.e. price found on pancake swap or other real-time references). Our initial secure adaptors will all have these circuit breakers in place and thus in times of pricing volatility, queue-based trades will likely be offline until the market pricing settles down. Note that this will not apply to ‘pegged queues’ as those queues will always operate as long as tokens are available in the queue. Likewise, ‘offer priced’ queues will depend on the offer prices. #### What utilities does the OSWAP token have with respect to the liquidity queue technology? OSWAP tokens can be staked to gain priority on the spot-priced queues. More importantly, OSWAP tokens need to be staked to propose and add new queues and secure adaptors to the platform. It is envisioned that user communities will design their own queues to fit their needs both in terms of logic and in terms of tokens supported, and thus will require OSWAP tokens to onboard the queues. # Hybrid Smart Router #### **What happens if liquidity queues are empty?** In a scenario where the liquidity queues are empty, the hybrid smart router will simply involve only AMM pools to carry out a swap. This would only be the case if no liquidity queues are available or if the liquidity queues are insufficiently funded. #### Which chains and DEXs are supported? OpenSwap has initially launched on Binance Smart Chain (BSC) supporting PancakeSwap, Biswap, Impossible Swap, and BakerySwap. OpenSwap will soon integrate to Avalanche, and will support Trader Joe, Pangolin, and SushiSwap. As the project continues to develop, we envision to also extend to other EVM compatible blockchains such as Polygon and Fantom. #### Is the Hybrid Smart Router audited? The initial set of hybrid smart router associated smart contracts were audited by Peckshield. As with other OpenSwap smart contracts, further improvements made to our smart contracts will continuously be audited by reputable 3rd party security auditors and peer reviewers before they are released to the mainnet. #### Will the Hybrid Smart Router use more gas than current routing approaches? If the hybrid smart router uses a hybrid multi-hop path involving the usage of liquidity queue and AMM pool, it is expected that due to the more efficient queue hop, the overall gas required would be lower than if a multi-hop AMM swap was conducted. In the event of an AMM pool-only approach, user can expect that gas fees would be comparable industry standards. #### Can other DEXs create their own Hybrid Smart Router to tap into OpenSwap’s liquidity queues? Yes, it is possible. For security reasons, only whitelisted contracts will be able to interact with our liquidity queue smart contracts. The whitelisting is managed through community governance, so any project who wishes to create their own hybrid smart router to tap into OpenSwap’s liquidity queues, they can do so by staking OSWAP in our governance portal and propose to add themselves into the whitelist. #### Will there be a scenario where a multi-hop swap using liquidity queues and AMM pool results in only part of the swap taking place? It is not possible. The swaps will be all or nothing. # Staking and Farming #### How can I see the active staking and farming campaigns on OpenSwap? Users seeking access to active staking and farming campaigns can do so by connecting to the OpenSwap DApp. Active staking and farming campaigns will be shown under the Earn section. #### How are the earning cycles calculated? Every campaign’s earning cycles will be different, users are advised to pay attention to campaign information posted by the OpenSwap team prior to participating in these programs. For immediate questions, users can seek assistance from community managers at the Official OpenSwap Community on Telegram. #### How long do I need to lock up my funds to participate in staking and farming campaigns on OpenSwap? Depending on the conditions of the farming campaigns. Each campaign mught have different locking periods. #### Can I unlock my tokens from the staking and farming contracts prior to the campaign end date? Yes it is possible. If users wishes to pull out from participating in our staking and farming campaigns, they will always have the freedom to unlock tokens from the staking and farming contracts prior to campaign end date. #### If I unstake during the campaign period, can I still earn part of the rewards? No, if you unstake before the campaign period ends, you will not receive any rewards. # NFT Loyalty Program #### What is OpenSwap’s NFT Loyalty Program? OpenSwap’s NFT Loyalty Program gives projects a fun and engaging way to interact with their community members. Projects can reward their loyal supporters with NFTs generated by Chainlink’s VRF. These are usually given to token holders by asking them to stake a certain amount of tokens. Projects can also increase the desirability of these NFTs by giving additional perks such as APR boosts. #### How can I participate in NFT Loyalty Programs on OpenSwap? Projects can start your own NFT Loyalty Programs by reaching out to us on Telegram. Token holders are advised to stay tuned to our social media as we will periodically rollout new NFT Loyalty Programs. #### Where can I sell the NFT minted on OpenSwap? The OpenSwap team is actively and will continuously collaborate with different NFT marketplaces, users are advised to follow us closely on our partnership announcements to see which NFT marketplaces the minted NFT are available to be traded or transferred on. It is in our plans to eventually launch an NFT marketplace on the OpenSwap DApp. #### How do I determine the resale value? The OpenSwap team will never comment on topics related to secondary market conditions or resale value. DYOR and beware of scams. # OS Pro #### How can a retail investor take part in it? OS Pro is position as a project-focused subdivision of the greater OpenSwap ecosystem. However, this doesn’t mean that retail investors are barred from participating. Whenever a project wants to use a service that would involve the community, a portal would be set up on the OpenSwap DApp enabling access for retail investors to participate. For example, in the scenario that a project wants to start bonding with our OS Pro’s Bond Market, retail investors could choose to bond with their LP tokens. #### How can a token project apply to be part of OS Pro? Interested projects can directly reach out to the OS Pro team in the OpenSwap Official Community on Telegram. #### How would this bring utility to OSWAP token? The OS Pro team is actively exploring ways to give utility to OSWAP tokens with OS pro’s services. Some of the examples would be revenue sharing with the revenue generated from OS Pro’s services. Alternatively, the team is also considering ways to charge other projects for our services in the form of OSWAP tokens. More updates will be given as the rollout approaches. #### Why should a project consider using OS Pro services? 1. **Tech** \ With our experienced team of engineers, contracts are carefully created and modified before the deployment. Projects can save on time and resources by relying on OS Pro’s services. 2. **Exposure** \ By partnering up with OS Pro, projects would be exposed to our other projects that are currently using or used our services in the past. They can also network with some of our reputable backers such as Coin 98 and Impossible Finance. 3. **Experience** \ The OS Pro team are battle-hardened veterans at DeFi. We will be able to sort out different parameters to get you the best results. #### When will these services be available? Already available: (Fixed) Farming & Staking, On-chain Private Sales.\ Bond Market: Q2-Q3 of 2022\ Liquidity as a Service: Q3-Q4 of 2022 #### Projects on which chain can use these services? Currently, OS Pro’s service supports BSC and Avalanche. Support for more chains is coming in the near future. # OpenSwap Bridge Tutorial (testnet) ### Introduction This tutorial will walk you through the steps on how to acquire tokens on the different testnet chains to be used for your trial and testing purposes. We appreciate your support during this exciting pre-alpha phase of the highly anticipated OpenSwap CrossChain Bridge as our team prepares for a release candidate for mainnet. Should you encounter any issues or bugs, please report them to us by filling out our issue reporting form below. Our team will review all reports and any issue reported that may lead us to securing the bridge even further may be eligible for rewards! ### Key Features The OpenSwap CrossChain Bridge is powered by a network of bridge trolls (validators) to provide the following: * Single Asset Bridge Vaults on each chain offering **impermanent loss free return**s to liquidity providers * Users **receive native tokens** instead of synthetic ones provided by other bridge offerings. You get the token you want without the hassle of figuring out how to convert a synthetic token into the native one. * True **any-to-any** cross chain swaps from one native token to another. * Enable projects to leverage our network of bridge trolls to manage bridging services for multichain projects. ### **Prerequisite** #### a. Add Testnet on MetaMask The tesnet rollout will support Kovan, BSC Testnet and Avalanche Fuji C-Chain. Before testing on the bridge function, it is recommended to add the network to Metamask first. You may simply go to “” and click the network button on the top-right corner. Select the network and it will be added to your metamask automatically. ![](https://lh3.googleusercontent.com/4CnX43McmwXTgh4hKA9pn-frwTQSkLY2x2KENoToQh2tTAHaMJF-UtF7f5y6vF5heu3tq3e3v6zDnJVOX86NoHOM5p8Qoo1TFQFk83YyN5vyTPrs2LzSGX7Huba5plyGeRH_ztev) #### b. Get Native Tokens on Testnet from Faucet
Native Token Faucet
ETHhttps://faucets.chain.link/
https://gitter.im/kovan-testnet/faucet
AVAXhttps://faucet.avax-test.network/
BNBhttps://testnet.binance.org/faucet-smart
*We recommend getting some BNB* #### ***c.***** Get Testnet USDT from OSWAP** Native token can be swapped into testnet USDT from our swap page. The Pegged Queue option will allow you to obtain testnet USDT with a small amount of native tokens. ![](https://lh3.googleusercontent.com/V6PWfG1EQlq89_KeLltf_47ZTeWyobElcnpItNBxj7_RRRWWbiGGk5SWi7bJ0hb0HN0eX3HKw0I_O_uUQBrxJICi5pq7SVtxdYz-uQTh9PJ87JCHTVt0B1-xowiUwnBA85NR1XF4) ### **Tutorial** #### 1. Create Swap You may create a order on “” by selecting the source chain, destination chain, input amount and the desired token on the destination chain. ![](https://lh6.googleusercontent.com/SLBe_QiR3Bno98an6HwPF7vHRxGLOQW9rGTLDJNShNAOMZycNk7gwe4eGQzNBAz2QUnUfNmP9-9fl86RN7nmBLUzRHekv7kU2jvnXOTHypON9nBRULgSoi1NWimL-5mLN8lvU6WR) After clicking “Create Order”, you may review the order details, such as the expected amount out on the destination chain and the transaction fee. ![](https://lh4.googleusercontent.com/359A55vXB5JMzNlBi1RUhaed_vNOFTNO51tFOn2-Djmw2Oh-awoykdwlRkU3a84yziMKNehkzLj0X_pXwT_QniF3mgVViEaIepj2oSKoNkA7iSRNIMcvBeeeXNZ1_Ozm7PFkhkOp) You may click the view record to check the order status. ![](https://lh6.googleusercontent.com/whlgN35oIbusPPFt0P5I2mpYfgh0yNtElbYCqA_QRAXGCgK8hHvL7G759fVDWj53rqqnCagblwrmE2GXXMn1mk4GB6fGzQ4OdKzS50tQ-J7vKLvwsMnrw4FSms8YMUhYPKeqveGh) #### 2. View Record Click the “Bridge” on the menu bar to access the record page. ![](https://lh3.googleusercontent.com/O9jJ31WR2v1YyAIbZjMhkKmwL0jfXglfGrUAq48soutnuof8WZ9vtbwub8qwd1rJDw59LLgZlbswLAMInUDd40UT5BQJBWjclOCrb2KL2HyeqovmikIEdJxjZTXebfwyc75c27It) Your record will be shown as “Pending” when it is still waiting for verification on our trolls and you could verify the creation transaction on explorer. ![](https://lh4.googleusercontent.com/n6GwOfUy-OBzndop4zZkquZSkuZXsuJuny__vXgmGpiLUAp1g159_qGAXI5Bk7SoT5jC0-eB_uqNYP7_s1pwO2_P-jBZbdd52m10d7K1kgQE5htyz9Hcp53vj_-q0v3ttkzTaufb) After the trolls have confirmed your transaction, the order status would be changed to “Executed” and you can verify it on the explorer to see how many tokens you receive. ![](https://lh4.googleusercontent.com/x3VdQeEE2piFW_cTlMVHhFlt1xHmyuuNHbSY0ay-O7HMgO0ts_vOxQSZeF4Df0H6csXMaF9SloDAiWGWfdU-KR8JLBQ_mDFpPOjClvaic0D9Hl4m_dAt5bnfaPKn6wg6pcARFrgx) #### 3. Cancel Record Some orders might be rejected by the Bridge Trolls due to different reasons, such as a high price change on the destination chain, or insufficient liquidity in the bridge vault. You May then cancel your order to receive the token back in stablecoins. (It might be slightly less than your original amount as the gas fee is deducted automatically. You may first click the “Request Cancel” button ![](https://lh5.googleusercontent.com/yxXyna2ir-Www7SF665PxXRdWjnG3ZlD8FBYfb-hAG_F3p-swQh7uSaKteCeZ0mtQr70DwmZDjqZXe3DCs0u-g5i1XQWsFZLa68HWoXL152YOXTZxB-GCzVv3e4SUbAQ7d8cslmC) Confirm the request and you will see the order status changed to “Cancel Requested” ![](https://lh4.googleusercontent.com/o5h6dZjCuxnxIjD8Ces6h0tY9elhWR-Aj159mZ6_7_Sb_cgukyiC9MjbNOn_MARzCenfrWRKiI0-oP5NRRMSW0Aad_a-1QfUBF0ZX9lJOzV-7iTXd63lUNjQMsgxnYdXDjnVV1eO) ![](https://lh4.googleusercontent.com/4S801D0ftazi5ubk2YO7Vg1ssNlWz1Nu4grF9YFT2MWv7nwgsyEA-SVVx8oDnMDeXWdoggqTCiH5PErWGRjaFbXhLiW98ce-tlcErefeLPke0hnnTOOqsGRgNeKrb8w96Z8N2rrR) It will be changed to “Cancel Approved” after the trolls have confirmed it and you can withdraw the tokens from the source chain. ![](https://lh6.googleusercontent.com/qX8VjxNq_od0zgFngOKzGzZ-3xx8J6MUqkWQIThITE1QKO_b70bDL_E0snKHpnuEzjeNbF2MbpN7OKTE9zIrolcI8MiYH44OdSWWaexDfkoIZ_7iSAviKQFVzmXlIbo_KQ_uizMW) ![](https://lh4.googleusercontent.com/kgxyd0UpLN_KFdhWmN0F0Q4dk2clhAZE6DrKd4kGhLqmjBA5n0JIaK8_t_gxkVqoxs6OrlTpm7aI6-5sntua3BKRG_hPdXRqXg99Y0BN8OijwHTh4lzM4jZHQ54Fg7HLCszbQWxF) ![](https://lh4.googleusercontent.com/arVqsSy4png9_k1nDzIZ5j3tbb0lkRQ3c7h1pRn0s9xgt0aEfkHWAvZB-jZXaiApV-_l9X4cuVuMma7N_34H-HPhp0lxPc7FA8KfETMlnYmZCHjKCA2yxYXo9nwM-5g3iMklSzap) ### On-chain Verification #### a. Creation Transaction You may verify the order on-chain by the explorer. ![](https://lh5.googleusercontent.com/8FKiOmBmm6s1PNs71MmJNo67oF90uL9vIn7Ar1Cz_nNt3U-ZfFW_zBQnVTeaByO4Whq04RMZHKBFhShADPL2klKFVM_i4Oox_z981EXIpyxxRl8OaT_NnxDIctsThZTDrcZuU15u) The first thing you could notice is that 10 USDT has been sent to our bridge vault contract. ![](https://lh4.googleusercontent.com/WLr7_bQiYPlwshvbBUrh19o5WdJa1NFQWiXJfRHVWUgU-nfoCqzsRn6AFlUWC55ErqrfQHqjcH1uUaxqdKr5SIIdhh--EfmRiaFPLBZ1rsRXVZbMSd_fFAKNFecEyxFxcX_ljqLg) #### b. **Executed Transaction** From the Execution transaction, you may notice that only 8.97 USDT.e is used to trade on the destination chain. It is because the bridge fee is deducted from the input amount 10 USDT. The 8.97 USDT.e is then further used to swap to OSWAP which is 30.09 in the end. ![](https://lh6.googleusercontent.com/q8pfF_eHQGa_-K6aDhnD7r7_MIf3zOoW8sPXZlpH9bzylY-8_qoDF-IXtlt3cHnLkh6oAQZkhya8hrskHt9Uz1pktrtEt0ZYWLmewEQwlXDyoVJmrOjGX2l_Lrn3VfHcdrXMHmOT) ![](https://lh4.googleusercontent.com/MGGoMfePC0Zvq-_8vEGRQNmlJbH_VpEkrnCYGmoCBG9AIRRxBQnRCUMuuRDgYzUmbZnQSHKC5A9sJWPZdRm-7mrLro6UvdFLKgBPqZLVM6N5t5ye-20U0y2g2GSuV80OYSQ1GZpH) #### **c.** Canceled Transaction From the Cancelation transaction, you may notice that only 1998.999996 USDT is returned to you given that your original amount is 2000 USDT. The difference is caused by the automatic deduction on gas fee when the trolls try to swap tokens on the destination chains. ![](https://lh4.googleusercontent.com/0wYKP_rFPsY4dCFE4LYiKP5NtoJSlZM1DK_IF-TEEKZOVaBMvAJemisaFOR_QrR80KFguYgzMM4sZ6TfKT-4bgYMMA8cDvxfeRve3Sc4h05HcagbVbTYSoSWG0uRCMxecTCT-ezm) ![](https://lh6.googleusercontent.com/DTvuXlOgCzYzYD6q2s3vQUx7lhAI-lCThh7i4Cu2v0L-DmHl4fI6Gju3VeehfLTxmsIbEmyLo_G0HKGEDJEqipMtMJwaLqHG913u2oD1PVRrxTcW77usvXbk4zrb5mlRlRryt7b7) ### **Supported Dexes**
ChainDex
1BSC Testnet

OpenSwap

PancakeSwap

BakerySwap

BurgerSwap

2Kovan TestnetOpenSwap
UniSwap
SushiSwap
3Avalanche FUJI C-ChainOpenSwap
Pangolin
SushiSwap
# OpenSwap Project Token Bridging & Bridge Vault Tutorial (testnet) **Introduction** This tutorial will walk you through the steps of bridging project tokens on OpenSwap testnet across different chains and participating in Bridge Vault single asset staking. ### **Project Token Bridging Across Different Chains** 1. Select different source chain and destination chain ![](https://lh5.googleusercontent.com/SdGym352X2FrZYFJ3z_obfgVORgiiHIH0m4qmb-NTytsZVUNiWMoB8pL_ZKa9gblRPivvlwOuzueeO0oXNU_KJ0S2PitVxW7LmkyGx733zfSD6A30uHy19tWvn08TbCKu6sSc04Q) 2\. Select OSWAP as token input and insert the amount ![](https://lh5.googleusercontent.com/ygB3at7co3L-ZLfMxQa5TWwVCvPl2VVg-oBOYGACcdpUHhfpzK3coAZtL6QA_fSZt_WHg9Q1bJE_NJSxrtGiq6oEdy6t4_2_m5Bjpvm-jlwb8VqqMfTXiDZWcA5NlBlDeMz5heUU) 3\. (Approve the token &) Create the order ![](https://lh6.googleusercontent.com/j_q2kinfw6wn9481xkMTMK84TTb0nJPj3bBNymX7NIEfeRDX_viNBGNctt0PUM9xg-zSfFIQpw4YaB0VdBaj9Z4Xmd_1mRT4QZSAEY7bVPJkigJ8VE0K88YYAvctPOgVUniuXFPc) 4\. Review the order on the “Record” page ![](https://lh5.googleusercontent.com/m7RG5ZGfeUPhTGmU6DLhonDrJ_tTHMbO6wHzW005tIBSPqx9RcxQ8TPK20ijrRsDZvrPZjT2uo-Z1wVSYo7Z4VZI4bM1RNzQHWvzsH2FpAxAnXxDf8cEUOfEKbn2GXajGwec3cMJ) ### Bridge Vault Single Asset Staking 1. (Approve &)Click the “Add” button ![](https://lh6.googleusercontent.com/T8ro85dc3JNwZXxRAjdNPzRUULN7Jn03soBIE3jB77z-_RVqglnASrRFcPleTQwLTzNLJvL7Kcdfu98fnkgYGX-0_5mAbHxy_o8nSLpjBBTCOWU_vt0Qoru5EwxgISZ7lhuDN49l) 2\. Insert the Amount and Confirm it ![](https://lh6.googleusercontent.com/C27Wemr8Ot_QhH83Rg8t5m8dn2JzXWn2aq6uWbdtoyiYE_Gz0RA9EcvK9Mi6NsshGhVot_Xr1qwqmXEG7aHOxiYPWgUZsbUQGNaTlWNdrE0xYymxNt0f9ooX3vv1FdSwo90pAUSB) 3\. Review the updated Vault Info ![](https://lh3.googleusercontent.com/dFtjPV21UV1FBPumZUEmwIXY4JoGhw5Cg8KMTSpoT7UNsSVMXOU7S9aCxjGbukt45lJrO9vm8kJ1reTJzWSabhsC_0e-C89Up7AW3HZYyTMabSH6gWMFH7uPvNGuP45ZntfmNcps) 4\. Receive transaction fee when other people swap ![](https://lh6.googleusercontent.com/2fqD0P7PnIGvEI9QExEEXKWbwaRUbqe3EqDEcFhyG6z94u3HWpeMuHoBYGGPBXz1oGQH0dPnSY3YIHDfzgr6DkGaL5QdhTDg_jl8KyXXFiEEfolynoJBCx6FaBb26zhMoZOSa7Vp) 5\. Remove Liquidity to withdraw deposited tokens ![](https://lh3.googleusercontent.com/YfNCUT6KD154rgcTp_wy5t8Fc4_dg1dP2JRl0Aa2GVyhnXJV86ktazdWViQO5U84SnytJecIUZpKPK_oB065P-qC1PPxqf21lyP7qNgVIzAFYuaUBEZdbnQ0mcgMvPNMnl4yYnbr) 6\. Review the amount received on explorer ![](https://lh3.googleusercontent.com/T1bxrt31alMHoRoYVrw88O143238tnyUn7cM_occXS79HERjefGx4DsRzhcGOglAnfw06nVKRSksVUladzzSM1PPZiskrxk1nHHd6YcxSJ_rLzKAP2sBBzb3M7cTfQSktETMY4xZ) # Brand Guidelines ### About the banners To keep consistency across publications, OpenSwap branded banners almost always follow the same layout. **Banner guidelines** ![](/files/XE7nBcx6Ysx1PUvaU7fV) ### **Creating your own banner** In order to create your own banner, we put together a series of templates that you can download or use. ![](/files/bSUNlW7TavPnUpzLqccY) **Adobe Illustrator file** If you or your team uses Adobe Illustrator, this template will help you create the banner. The template includes all the elements divided in layers and a guide on the colors for the **OpenSwap** logo in case you need to adjust the contrast based on your background. {% file src="/files/LuAT6FbRnVOQCvBXELI2" %} #### Canva Alternatively, you can use the Canva template to create the banner. Canva is an online image editor, and you will only need to create an account in order to access and edit the banner template. In the file, you will find 2 different pages, one for the dark scheme, and one for the light scheme. {% embed url="" %} #### Brand assets and examples Additional OpenSwap logos that can be used to create a banner can be found at {% embed url="" %} We also included two banner examples below: ![](/files/K4auh6mmtBBpin2sTsOR) ![](/files/EjFbJx3OXKFyMPlIHAjb)