What Is SWERVE Protocol (SWERVE)?
SWERVE Protocol (SWERVE) is a decentralised asset provider enabling users to access alternative non-USD stable coins through staking of collateral. The SWERVE protocol also is a decentralized on-chain liquidation engine system powering derivatives markets on trading and lending platforms on Solana. Right now, there are no major non-USD stable coins leading to a dependency on the dollar.
SWERVE Protocol (SWERVE) are enabling users to gain onchain exposure to other currencies like KRW, JPY, etc. This enables additional market pairs to enter the Serum ecosystem as a new base is introduced. The liquidation engine aspect of the protocol plays a key role in keeping a healthy Solana ecosystem. By managing liquidations and providing capital across several different derivatives and lending platforms, the overall usability and health of the platforms are substantially increased, which helps further advance the ecosystem.
SWERVE Protocol (SWERVE) Token Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | SWERVE Protocol |
| Short Name | SWERVE |
| Maxx Supply | 100,000,000 |
| Total Supply | 100,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Solana’s First Alternative to USD Stable Coins
SWERVE Protocol (SWERVE) is bringing Solana’s first Forex-focused synthetic assets where you can supply collateral to borrow Forex assets. Swerve provides an alternative to USD denominated stable coins. It allows liquidity providers exposure to currencies such as EUR, KRW, GBP, CHF, AUD, and JPY.
Liquidation Engine
SWERVE Protocol (SWERVE) will also serve as a backbone to the Solana ecosystem running a number of supporting liquidators for protocols and using any profit to buy back SWERVE and either 1) burn or 2) distribute to LPs.
Powered by Solana
SWERVE Protocol (SWERVE) works via Proof of History (PoH), which is a concept that allows for validators and individuals alike to prove that a message has occurred before or after a specific event. Proof of History operates through sequential functions; these sequential steps coincide with a concept known as a “Verifiable Delay Function.” These sequential steps are a vital component of the Verifiable Delay Function and produces timestamps and transactions that can be easily verified. Solana is able to currently handle over 50,000 transactions per second with near-zero latency, and has a theoretical maximum of over 700,000 transactions per second.
Summary of Utility
The SWERVE protocol holds the following utility:
- Enables alternatives to USD stable coins
- Rewards from the SWERVE protocol and liquidating engine distributed to liquidity providers
- Contributing to the backbone of the Solana ecosystem supporting protocol liquidations, advancing the ecosystem health and accruing liquidation fees
- Governanace model (DAO) where token holders can vote on protocol direction, integrations and supported protocols
Tokenomics
Allocation Amount Liquidity emissions50%Partnerships15%Community Airdrop10%Team and development25%
- Liquidity emissions will be reserved for liquidity mining
- SWERVE tokens are bought off the open market
- All partnerships tokens are vested on-chain (6 month cliff, 3 year linear vesting)
- Future emissions schedules will be announced at the time of the farm release
Goal Make DEXs the Best way to Trade
SWERVE Protocol (SWERVE) Despite the decentralized nature of crypto, centralized derivatives exchanges still remain dominant – they’re already fast, familiar and reliable. So far, the DEX trading experience hasn’t met that standard. Slippage is high for large orders, transferring funds between platforms is subject to massive gas fees, and low liquidity leads to poor pricing.
SWERVE Protocol (SWERVE) Drift’s goal is to bring a state-of-the-art trader-centric experience from centralized exchanges on-chain. We’re a team of experienced traders and builders from DeFi and traditional finance working together to make this a reality.
- A fast, responsive trading experience. Powered by Solana’s low latency blockchain.
- Full cross-margin trading support. Take multiple positions using a single pool of collateral.
- vAMM liquidity from day 1. Immediate liquidity from listing. Trade instantly.
- Permissionless by design. Anyone can trade anything, anytime.
- Transparent pricing. When you trade against Drift’s DAMM, you know exactly the price you transact at.
- With our Dynamic AMM, exchange fees are used to make the exchange more liquid and benefit traders who are in positions.