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Netswap (NETT) Releases Exciting 2022 Roadmap, $100k Trading Competition, and More (V2)

News
Netswap (NETT) Releases Exciting 2022 Roadmap, $100k Trading Competition, and More (V2)

Netswap (NETT) has released the details of its 2022 roadmap plus its upcoming $100,000 trading competition which went live on March 7. Netswap has described 2022 as a year of building and value construction for the project and as such, it plans to roll out a wave of exciting and valuable features.

Netswap Value Construction Roadmap

On December 6, 2021, the Netswap team made history by successfully launching the first-ever native decentralized exchange for a layer-2 blockchain network – Metis Andromeda.

During the Netswap fair launch, early participants received two rounds of NETT token airdrops based on the Netswap Scoring Plan. In an attempt to foster complete decentralization, community engagement, and efficient token distribution to early users, the Netswap team restrained itself from receiving any NETT token allocation during the events.

Since that time, Netswap has not looked back, delivering great yields to members of its ecosystem via the Netswap Liquidity Mining and NETT Staking Plan. Netswap and the Metis ecosystem have witnessed a significant surge in total value locked (TVL) that surpassed $800 million and the ecosystem recently surpassed the $2 billion trading volume threshold.

The recently launched Netswap Launchpad successfully completed the first initial decentralized offering (IDO) event with GameFi company, Metauce and the team says it’s looking forward to executing more exciting IDOs soon.

“We also view collaboration as a big part of our roadmap. With so many amazing dApps integration and building on Andromeda, Netswap is thrilled to connect with them. It’s a triple-win for Metis, Netswap, and all of those great new projects,” declared Netswap.

Netswap Trading Competition (Currently Live)

The first-ever Netswap trading competition went live on March 7, 2022, at exactly 15:00 (UTC) and it will end on April 6, 2022, at 15:00 UTC. 

To participate in the 30-day contest, Netswap users are simply required to swap any of the below trading pairs:

  • WBTC/METIS, 
  • WETH/METIS, 
  • NETT/METIS, 
  • METIS/m.USDT, 
  • METIS/m.USDC,  
  • METIS/Relay
  • METIS/MINES.

‘During the competition, users who trade on these seven pairs will be ranked by the total effective trading volume (buy+sell) completed by the user. The top 100 users will have the opportunity to share about $100,000 worth of METIS, NETT, RELAY, and MINES tokens,” declared Netswap.

The team says the traders that place first, second, third, fourth, and fifth according to trading volume, will get $15k, 10k, $8k, $6k, and $4k rewards respectively.

6th place to 20th place traders will share $20k, 21st place to 50th place will share $18,500 while 51st place to 100th place participants will also share $18,500.

Netswap Overview and 2022 Roadmap

Unlike Ethereum-based DEXs, Netswap offers users low-cost and lightspeed transactions powered by the Andromeda Layer-2 network.

The DEX comes with 16 yield farming pools with seven 2x Reward Farms, meaning that the LP token providers get dual rewards that allow users to earn rewards in both NETT and METIS tokens.

That’s not all, Netswap is already offering users: 

  • METIS rewards by single staking NETT in their platform
  • Access to the tokens of great Andromeda-based projects via IDOs
  • A super clear and easy-to-use UI

The Netswap Builder Mining Rewards Giveback Program, which Metis Andromeda uses to dish out 30 percent of its transaction revenue to its partner projects, is live now and Netswap says the entire rewards will be given to members of its ecosystem via three key steps:

Here we can explain the logic connection between our NETT token emission reduction plan, builder mining rewards giveback plan and trading competition:

  • First, NETT emission reduction is a start, NETT is transforming to a token with real value and utilities from a previous “farm token”
  • Second, by Builder Mining Reward Giveback plan, we’re already giving some utilities to NETT (staking and 2x reward farm)
  • Third, trading competition will boost trading volume. There is 0.25% transaction fee shared by LPs from each swap, with a rising trading volume, LPs will have higher APRs (even without farm rewards). And also with a higher trading volume, more gas fees will be costed on Netswap, which means more builder mining rewards we’ll receive from Metis team, more rewards we can giveback to the community

Other Netswap events that their users are already looking forward to include:

  • Launchpad Upgrade
  • UI upgrade
  • Introduction of limit orders
  • Prediction market launch
  • NFT marketplace launch
  • Lottery service
  • Leverage swap
  • NETT governance system launch.

2022 will be a year full of excitement and development for the Netswap community, as its native token transitions to a utility token that creates value, and its team unrolls a repertoire of exciting features.