SumSwap: A DEX platform that truly embodies on-chain governance

Accumulate strength in the early stage, rise in the middle stage, and explode in the later stage. It seems that everything in this world is following a process of accumulation. The rise of all successful things has a long journey behind it. This is the case for NFT, Filecoin, and DeFi! DeFi is like a stone. Its rise has caused ripples in the blockchain. With the superposition of ripples, you can see the current turbulent waves in 2021. This wave consists of DEX, stable currency, lending, derivatives, payment, insurance and so on, and the biggest wave is DEX.

1. DEX is in a period of rapid development

According to data from Dune Analytics, the total transaction volume of decentralized exchanges (DEX) in the past 12 months has reached 355 billion US dollars. The total transaction volume in January, February, and March 2021 are: 67.1 billion US dollars and 76.7 billion US dollars. U.S. dollars, 71.3 billion U.S. dollars, of which the transaction volume as of April is 21 billion U.S. dollars. Compared with the data of the same period in 2019 and 2020, the same period in 2021 shows an exponential growth trend.

Announcement of Solana Summer Camp Hackathon Quadratic Voting Grant Results: On September 13th, SolanaSummerCamp Quadratic Voting Grant results were announced on the developer incentive platform DoraHacks.io on September 12th. According to the closed-source analysis of the voting results and Anti-Sybil Attack (Anti-SybilAttack) detection, 24 teams received a total of 1397.92SOL quadratic funding bonus and 235.2SOL community donation bonus. This quadratic voting Grant adopted an upgraded version of the progressive tax mechanism (Grant Fund Distribution Algorithm), which significantly reduced the frequency of sybil attacks during the voting process and improved the gap between the rich and the poor in bonus distribution. [2022/9/13 13:26:33]

SumSwap will recycle 4 member-customized NFT works at a price of 4,000 USD on opensea in the next two days: According to official news, the pre-sale of SumSwap members will end in about two days, and the NFT works customized by each member have been gradually distributed. In order to thank SumSwap members for their support, SumSwap officials will randomly recycle 2 SumSwap member-customized NFT works on opensea every day on July 2 and July 3. A total of 4 NFT works will be recycled in two days, and the recycling price is 4000 USD per piece.

In addition, with the development of the SumSwap platform, SumSwap will not buy back NFT works customized for members from the market. [2021/7/2 0:22:11]

The explosion of DEX stems from the continuous growth of the DeFi ecology, and also from the success of decentralized exchange models such as Uniswap and Sushiswap. The wealth effect it brings has impacted the status of CEX to a certain extent. The unique AMM automatically The success of the market maker mechanism and liquidity mining model proves the great value brought by its innovation.

SumSwap simulated staking is about to start, and the mining income can be converted into USDT withdrawal at any time: According to official news, the decentralized protocol SumSwap will start the simulated staking mining function in the past two days. As long as the nodes and members subscribe According to the rules, it is mapped to the simulated Staking idle area. Nodes and member users enter the simulated staking page and put the SUM in the idle area into the staking pool to mine SUM. The mined SUM is distributed every morning and can be directly exchanged into USDT for cash withdrawal. [2021/5/4 21:23:55]

DEX abandons the traditional order book model and improves the effective utilization of funds. The difference between it and CEX is mainly reflected in the two dimensions of technology and governance. From a technical point of view, a decentralized exchange is a DApp built on the blockchain. Through smart contracts, two modules of asset management and trading are realized. From the perspective of governance, a decentralized exchange is an open, community-driven decentralized organization with highly decentralized rights and obligations.

400 sumswap nodes completed the subscription ahead of schedule: According to data on the ETH chain, the 400 sumswap nodes were sold out on the morning of April 20. In just 24 hours, 162 people successfully purchased node quotas. The original planned subscription time was 60 days, but it was completed ahead of schedule in only 22 days. This reflects the market's recognition and affirmation of SumSwap.

At present, it has transferred to the member subscription stage, and everything is executed according to the smart contract. The number of members is limited to 3,000, and they can enjoy the right to deploy ecological staking early at a low price. [2021/4/20 20:39:10]

There are currently two types of decentralized exchanges: The first is an order-based exchange, which uses a bidding model to complete transactions. The second is an algorithmic exchange, an exchange based on a liquidity pool, which completes transactions through an automatic market maker (AMM).

Obviously our Sumswap is the latter. It also has the basic model of an algorithmic exchange (X*Y=Z constant product algorithm, AMM automatic market maker mechanism and liquidity mining model,) In addition to innovation, Sumswap is essentially a mathematical exchange. The mathematical innovation concept adopted in its model makes it bear the halo of "mathematical light". Its symbol adopts the mathematical integral symbol, that is, the integral from zero to infinity. It means that by integrating various excellent algorithms in the DeFi field, SumSwap realizes a real blockchain world where mathematics is law and code is law. It is a concept innovator in the current DEX.

SumSwap, an innovative mathematical protocol, has nearly 1,200 activated accounts: According to the official information of SumSwap, after the launch of the innovative mathematical protocol "SumSwap", "SumSwap" adheres to the design principle that mathematics is law and code is law. A mathematical expansion mechanism, for example, if you want to join "SumSwap", you must activate your account, and if you want to participate in the node pre-sale, you must invite ten people to activate.

Different from the traditional centralized design, all activations of "SumSwap" have to be on-chain and cost ETH handling fees. Therefore, the accounts that can be activated are all real users who have faith in the project. The current "SumSwap" ecology continues to grow. Nearly 1,200 accounts have been activated, and nearly 80 nodes have been pre-sold, and the node pre-sale is still in progress. [2021/4/6 19:51:37]

2. Node pre-sale is completely operated on the chain

SumSwap has innovated the development of DEX, while also retaining the distributed nodes in the blockchain. As we all know, the more nodes are distributed, the wider the blockchain network will be more decentralized, and the nodes of Sumswap are mainly to ensure the participation of users on the platform. Human rights fully embody the concept of decentralized governance

According to the governance plan of SumSwap, the number of nodes is only 400. These 400 nodes will become the backbone of the platform development and can enjoy the early development bonus of the platform. Since Sumswap is an protocol built on Ethereum, all of it is in It is carried out on the chain, including node application, node subscription, activation invitation, etc. Every step of the agreement is on the chain, and everything is as transparent and clear as the public ledger, fair and just, and there is no possibility of fraud.

SumSwap was officially launched on March 29 (UTC+8). A few days before the launch of SumSwap, on the one hand, because it has not penetrated into the market, on the other hand, users have a certain adaptation period, and the node application rule requires recommending ten people to activate in the early stage In order to participate in the node pre-sale, it can only be carried out on the chain, not only requires a handling fee, but also has an operational threshold, so the project progress is relatively slow in the early stage.

With the continuous expansion of the market and people's continuous research on the project, more and more people realize the ecological value of the project. From the data we broadcast before, we can see that the number of nodes has been rising and is now in a state of rapid expansion. At present, there are more than 110 official nodes and more than 1700 activations. For more information and progress, please add WeChat: btc664

The current Sumswap node subscription is as follows:

(1) Get SUM

Enter through the Ethereum wallet: app.sumswap.org, enter the SumSwap homepage, click Get SUM, then call the contract to transfer 0.1ETH and return 5SUM to the user address.

(2) Account activation

Find the activated address through the SumSwap community, paste the activation address into the text box above the activation, and click Activate. Then the contract call transfers 0.01SUM to the activation address, and your address will be activated after completion

(3) Invitation contest

When your address is activated, you can invite others to join your ecology. When ten people activate through your address, you will be able to participate in the node pre-sale.

(4) Subscription Node

After completing the invitation competition, enter the node pre-sale page, and transfer 10,000 USDT as required to successfully become a node.

Facts have proved that even though Sumswap’s node application process is more complicated than the centralized process, users have maintained a high degree of enthusiasm for subscription, because they can indeed distinguish what is a potential project. Sumswap, as a project completely built on Ethereum, has behind it The huge ecology of Ethereum, now that Ethereum 2.0 has been launched, the scalability has been greatly improved. As a new generation of innovative integration protocol, Sumswap's future development direction is not limited to the DEX field. With the help of Ethereum's high scalability, Sumswap multi-party agreement Will get a good development environment.

3. Fleeting wealth opportunities

Sumswap is now in a period of high-speed explosion. Estimated by the market value of traditional centralized exchanges, Sumswap is still in the early stages of development. Participating in the liquidity investment of the project as soon as possible can obtain more stable and continuous returns than cryptocurrency investment, which fully meets the needs of investors. Income demand, participating in Sumswap’s node pre-sale is to get such an opportunity. As soon as you become a node, you can occupy a favorable position early. If you miss UNI and SuShi, then you can’t miss SUM again.

The current node pre-sale is hot, the number of official nodes has exceeded 110, and the number of node activations has exceeded 1,800. According to this screening speed, there are not many opportunities left for us.

As a node participating in the SumSwap ecological layout, you will get:

1. Participation rights; the participation weight of a node must be higher than that of ordinary users, and the node has its own halo, which makes it have a heavier weight in the community.

2. Decision-making power; in determining the future direction of community development, it will also have a higher voice, and can participate in the early stage development of the project more deeply.

3. Income rights; early nodes can obtain more bonus opportunities brought by project development and enjoy the benefits brought by project development.

Sumswap is a decentralized financial infrastructure product that has been proven to be highly compatible with the market. When Sumswap’s daily transaction and daily activity can be compared with Uniswap, then the early 400 people can imagine how many times their return on investment will be multiplied, so the website In the turmoil of DeFi, it is still too late to get on the car, start with the lowest price Sum, the next chain circle myth is you! For more detailed information, please add WeChat: btc664

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