Hi everybody,
I’ve returned to the DEX I used as one of the first here, I am also one of the people that left after the Airdrop as I missed it because I had withdrawn the necessary 0.05 (as I recall) BNB 2 days before the snapshot was taken, while swapped multiple times for thousands and brought two others in who also did.
Even contacted support to share my story, but never heard back while I would bring a lot of liquidity in.
Used 1inch for a while, but can’t deal with it anymore for obvious reasons. Now I’m back and mostly because the community in DAO is involved in in the right way and it’s one of the few I keep checking in on to see developments.
The thing I’ve been missing is something that I’ve only found recently in Rango, which is a DEX where you can swap cross chain and bridging is pre calculated.
The UI is a mess, slow and eats CPU, something which I really like about Paraswap as it runs smooth, just as its intuïtive layout.
In the first weeks I was drawn to Paraswap as it showed the value of tokens in dollars underneath the dropdown and made me hunt for the pair which caused the ticker to show a value which was higher than the average market price.
Something I haven’t seen elsewhere and I think would draw people in, but also more liquidity as people would keep swapping instead of just use this as a middle man to get from point A to B, is:
- The option to choose a token from the first dropdown menu and automatically searches for a token which has the highest value recalculated to the rate of a dollar at that particulair point.
There are already smart contracts doing this but people tend to keep this to themselves out of pure greed, but if there would be another option added to make this more lucrative for PSP stakers (etc) and to create more value for treasury and thus future additions/layers build on the DEX, is:
-
An additional fee, which is 15% in value ($) of the change between the swap which would be the lowest in dollar value, compared to the highest pair which is now given on a silver platter by the DEX.
The % is something that could be debated, but to clarify what I meant with lowest value of possible swap, that this must always be above the price of the average price of the token used for the swap, as given on for instance CMC, Binance or; etc.
[Shouldn’t be the Chainlink ticker as people could create their own tokens and abuse this, as I think there should be votes for which tokens can be used for this particulair function. -
There could be trading competitions, for instance: most swaps / most $ difference value accrued in (? hours/days etc) / Most liquidity used in (? hours/days etc) and so on.
Of each particulair group competing, we could award top (10/100 etc) with unique NFT’s which each stand for another share of % now given above as the 15% diff. feepool.
Another procentage could be spread amongst those who have used this function of Paraswap and had at least spend ?10/20/30k? etc. in the last 7 days.
This would bring people back and would give people a reason to start using this as point A instead of B to get to C.
[PAR]A-BC could be a name given for this particulair function, or CTM (Cut The Middleman)
There is enough to build on this, incentivise, or even a percentage of that extra fee could be used for PSP buy backs and burns, or even build in to start making PSP deflationary, which I think should be the future of every crypto asset and is something we have been debating about since 2011, which is when I myself came in and co-founded one of the first crypto blockchains ever to come in existence.
Just adding that as I could’ve been more elaborate and specific in this proposal, but it is late here and have another proposal which I will post after this.
Again: my respect to the community here.