VanSwap is an exchange protocol on Vision for exchanges between VRC20 tokens.
Conversion can happen easily between any 2 VRC20 tokens based on system price. All trading fees collected will directly go to liquidity providers of the protocol, rather than the protocol itself.
This ensures full decentralization and security.
HoW it works
VanSwap is a protocol for automated liquidity provision.There’s no need for making offers or matching orders, and there’s no intervention of any centralized institutions or facilities in transaction.Managed by smart contracts, each transaction pool supports token exchanges, adding liquidity etc. Essentially maintains the function x*y=k to ensure the legitimacy of transactions.
Both conversion between two VRC20 tokens and between VS and VRC20 token are supported.
Price is determined by the number of tokens in each pool.The smart contract maintains a constant function: x*y=k, in which x = token1, y = token2, k = a constant number. Each swap takes place by replacing some of the tokens with a certain number of the other token. As k remains unchanged, balances of the tokens will be updated accordingly, which leads to changes in prices.
You need to pay token liquidity providers a 0.3% trading fee. For example, when you are exchanging token 1 for VS, 0.3% of token 1 will be charged as the trading fee. 0.3% of VS will be charged as the trading fee when exchanging VS for token 2.
You don't need to register an account for using VanSwap. Simply use a decentralized wallet to log in and that's it.
When you enter VanSwap through the APP, you will be automatically connected to your current Vtimes account; if you want to switch to another account, simply return to the wallet management page in Vtimes APP to switch your current account.
Updated over 1 year ago