Swap
Last updated
Last updated
As the name suggests, the core component of Openswap is the swap function, and the currently live version uses the traditional x*y=z bonding curve. we are also working intensively on a new version of the range liquidity additions.
Openswap is a permissionless DEX, anyone can create a liquidity pool for any asset on RSS3 VSL. Currently, most of trading pairs on Openswap's router will through WRSS3, which is a wrapped asset of RSS3 on VSL. Don't worry, it's automatic, and will not require users execute any additional transactions onchain. Current trading pairs could make you better understand.
Although RSS3 will be automatically wrapped into WRSS3 when executing a swap transaction for trading users. When you create a liquidity pool or add liquidity associated with an RSS3 token, you will need to convert the RSS3 to WRSS3 in the swap interface first, a step that will execute an on-chain transaction, and therefore will be paid for to the VSL network.
Other than that, adding the liquidity part is no different from most major DEXs.
Each time a transaction is made through Openswap, a transaction fee of 0.25% will be charged, which is not adjustable in the current live version, but will be customizable by the liquidity provider in the near future when we release the next version.
