The DeFi journey continues for the IOST protocol. Uniswap is now officially launched, allowing seamless trading with liquidity between the largest tokens on the network.
The IOS foundation announced today that Uniswap is now live on the IOST blockchain network – giving a great push for the IOST DeFi ecosystem, in the race between the newer, more scalable blockchain protocols.
The DeFi application is developed by Powermine Group, going under the name of Powerdefi. This application is just the starting point when it comes to building the DeFi system on top of the IOST blockchain protocol. Powermine has plans to release several types of applications on the network.
Uniswap is automating the process for market makers through smart-contracts deployed on the blockchain, to guarantee liquidity for all trading pairs. Lack of liquidity is a normal problem within the token economy industry. Holders of Powerdefi’s token, PMINE, will receive trading fees that are collected through the Uniswap platform. PMINE tokens can be purchased on the Uniswap exchange.
The following pairs can now be traded on the new Uniswap exchange:
Initial Liquidity of 4.45 MM IOST and 500 PMINE.
Initial Liquidity of 440k IOST and 10 IMATCH.
Initial Liquidity of 100k IOST and 20k PLAYTOKEN
Initial Liquidity of 120k IOST and 200 IFRY
There’s some Liquidity for it but some OTBC is been unstaked which takes 3 days.
There’s some Liquidity for it but some TIX is been unstaked which takes 3 days.
DEX Fee Distribution:
- 0.3% Liquidity Providers
- 0.1% PMINE
- 0.1% Platform Fee
IOST is at the time of writing ranked as the #79 cryptocurrency according to CoinGecko. Currently holding a market cap of $81 million. The protocol is using a consensus algorithm called Proof-of-Believability (PoB), which is a combination of Delegated-Proof-of-Stake (DPOS) and a non-tradable reputation score which is called Servi.
New to IOST? Learn how to interact with the protocol here