AMM DEXes have caused an evolution in the Defi world, since they are changing the way users trade their cryptocurrencies. The creation of the liquidity pool enables traders to easily swap in a fully decentralized and non-custodial way. By utilizing the innovation of AMM, Uniswap becomes one of the most successful Defi projects. And we notice that lots of projects are attempting to improve AMM design with their own implementations.
Sushiswap, a Uniswap fork, brings us an AMM with the SUSHI token, which is a governance token. Unfortunately, Sushiswap didn’t do any improvement to the case of impermanent loss.
Inspired by Uniswap and Sushiswap, SakeSwap aims to improve the design of AMM in terms of price curves and contributor rewards. Let us explain more about our unique design.
The SAKE token has two functions, which are entitling SAKE holders to governance rights and a portion of the fees paid to the protocol. Eventually, SAKE holders will own the protocol. SAKE tokens can entitle liquidity providers and traders to continue earning the benefit of the protocol development, which means the early adopters will be significant stakeholders of SakeSwap. Meanwhile, SakeSwap involves tokenomics of deflation to support the token price from a structural perspective.
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