Blockchain networks allow for fast, secure, transfer, and creation of digital goods in addition to the storage and execution of tamper-proof programs that can manage digital assets. Once these programs are being deployed on-chain, they cannot be changed and are available to everyone with access to the chain, execute based on the defined parameters and interactions (transactions), and are verified by the blockchain’s consensus mechanism.
These characteristics allow anonymous parties to enter into binding digital agreements, called smart contracts. However, blockchains are isolated from other networks and have no direct access to real-world data. Unfortunately, for smart contracts to bring true utility and off-chain data are necessary. If smart contracts want to realize truly secure and censorship-resistant, off-chain data must be trustlessly provided.
One of the biggest hurdles limiting the potential applicability of smart contracts is a lack of a trustless source of off-chain data. LaserSwap aims to fill this gap with an on-chain data feed where data is inputted by a permissionless network of crypto-economically incentivized data providers.
How ShareSwap works
As a fairly launched liquidity mining project on Binance Smart Chain, ShareSwap aims to generate the maximum amount of return for investors using the mechanism called Share Conversion.
Share Conversion allows users to convert SHS to xSHS, an augmented token that will generate 10% more yields when staked. Additionally, investors are able to practice yield farming using xSHS for additional yields as well. This creates a subtle balance between the farmers and stakers for when farmers get extra yields via Share Conversion, the price of SHS will increase due to liquidity influx, thereby incentivizing investors to hold and stake even more xSHS. Users can swap SHS for xSHS at a 1:1 ratio and swap back xSHS for SHS at a higher ratio in the ShareSwap pool. When the rewards contract is called, all the transferred LP tokens are sold for SHS. The newly purchased SHS is then divided up proportionally between the xSHS holders in the ShareSwap pool, meaning their xSHS is now worth more SHS. Thus, users of SHS get the arbitrage opportunities and are more likely to hold SHS and stake at the ShareSwap pool rather than direct sell. The ShareSwap design also involves a buyback contract, enhancing the buying power and lifting momentum. xSHS stakers are eligible for sharing the dividend from the liquidity influx within the 24-hour interval paid twice per day. The specifics of dividend sharing will be elaborated in the Dividend section. This creates a positive cycle for the project as fly-by-night whales are less likely to occur and investors are more likely to stick with long-term portfolios.
Another source of liquidity influx comes from a 5% entrance fee and a 5% exit fee paid automatically by investors of ShareSwap by the moment of staking and unstaking, respectively. All the LP tokens will be converted automatically to SHS and go directly to the ShareSwap pool for dividend sharing. This mechanism will discourage, to some extent, the speculative act of trying to make quick gains through market volatility, i.e. day trading.
Token distribution and economics
Distribution
80% — Mining
20% — Initial Distribution
Total Supply: 10,000,000 $SHS
Distribution rate:
First 15 days: 200,000 $SHS per day
The rest: 20,000 $SHS per day
Distribution Duration: 265 days
Farm Start: 9 AM, March 26th (UTC)
Security
ShareSwap will deploy a liquidity lock and a 24h timelock for the safety of both users’ assets and assets held by ShareSwap.
Our timelock source code can be looked up on Github: https://github.com/ShareSwap/ShareSwapProtocol/blob/main/contract/timelock.sol
The team behind ShareSwap is taking security very seriously. We are cautious with our smart contracts since they are the core of our products. The team is excited to start the peer review period of our smart contracts, by releasing the first of three contracts to the public.
Source code
As you might be aware Pancake swap can take all your money within 6 hours. Although they might not do it, the code is still present in their contract and this code is exactly how some rug pulls were done.
Like Goose, we have removed the following migrator code from our contract which was forked out from Pancake swap. You can see the following code is still present in pancake swap’s contract and Github.
Link: https://github.com/pancakeswap/pancake-farm/blob/master/contracts/MasterChef.sol
Here is our version of the MasterChef code:
https://github.com/ShareSwap/ShareSwapProtocol/blob/main/contract/MasterChef.sol
Governance
Building a DAO community is a vital part of practicing DeFi activities, as giving users more freedom and credit on pushing proposals will create a more dynamic ecosystem. ShareSwap team is planning to use Snapshot as a voting platform to gather opinions for proposals and to put forward more proposals. This plan will be put into effect roughly 1 week into the project launch.
Trading SHS
SHS holders are able to trade SHS on PancakeSwap once the project launches. However, it is foreseeable that with the block lagging, the token information will not be updated on PancakeSwap info page until several days after the launch. So one way to do so is to enter our token contract manually on PancakeSwap trade page:
Then, add the token to the trade list to start trading.
Community Links
Telegram: https://t.me/ShareSwap
Twitter: https://twitter.com/Share_Swap
Github: https://github.com/ShareSwap
Medium: https://shareswap.medium.com
