🪙Swing Token
Last updated
Last updated
Positive slippage indicates when there is a price movement between the quote and the on-chain settlement of the trade in the user’s favor.
To further elaborate, see the following example:
1) Let's assume a trader on Swing makes a swap of 10 ETH for 10 DAI. During this swap, lets assume positive slippage occurs (10.2 DAI received)
2) In this instance, a positive slippage amount of 0.2 DAI is captured. Swing will split this in two: 50% will go to the DAO treasury and 50% will go to the slippage contract (in the form of DAI) to accumulate
3) Periodically, the slippage contract will swap all target tokens (ie. DAI) to Swing tokens
4) These Swing tokens will then be distributed to stakers and liquidity providers of the Swing protocol aligning interests for stakeholders and the ecosystem
Swing grants token holders the right to propose and vote on changes to the multi-chain liquidity protocol. Swing Governance is based on governance contracts and supports voting based on token holdings.
Proposals must pass a given threshold and percent of yes votes based on the type of proposal. Swing tokens can be used to make or vote on governance proposals, or be delegated to other Ethereum addresses.
Swing token holders will be able to vote on the following:
Allocating community treasury funds
New token listings on Swing's protocol
Adding new markets for staking
Governance contracts themselves
Determining rewards
More details to follow once governance portal is setup.
