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.
Open Interchain Protocol
Crosschain Bridge Fees
Upon feature release, users who utilize Open Interchain Protocol as their crosschain solution will need OSWAP tokens as transaction fees for the crosschain activities.
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 Providers who wants to set up a Priority Queue will need OSWAP tokens for the setup fees.
Liquidity Providers who wants to set up a Range Queue will need OSWAP tokens for the setup fees.
Users who wants to set up a Group Queue will need OSWAP tokens for the setup fees.
Project Owners who wants to set up a Booster Queue will need OSWAP tokens for setup fees.
Project Owners who wants to set up a Buyback Queue will need OSWAP tokens for setup fees.
NFT Loyalty Program
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.
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
Project Owners will need OSWAP tokens for access to OS Pro offerings upon feature release. Further information on exact OSWAP token utility for this category will be elaborated closer to feature release date.
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.