Authoritative cryptocurrency navigation to safely master BTC, ETH and other mainstream digital assets.

Honeyswap

https://app.honeyswap.org

About Honeyswap

What is Honeyswap?

Honeyswap is a replica of Uniswap (V2) deployed on the xDai blockchain. xDai is a sidechain of Ether with the same properties as Ether, but it uses a proof-of-stake consensus mechanism. UniSwap is the most popular decentralized exchange (DEX) on Ether. It pioneered the use of the Automated Market Maker (AMM) mechanism. The exchange is governed by the 1hive community using HNY tokens. Its role is to form an automated liquidity protocol through the "constant product" equation. At UniSwap, anyone who deposits tokens in the liquidity pool can become a liquidity provider and receive LP tokens in return. Traders can exchange tokens on the platform, while developers can use smart contracts as so-called "money Lego blocks" to build integrated systems. The community is divided into several different "subgroups" to build separate projects. The decentralized exchange (DEX) itself offers lightning loans, prophecy machines and token exchange services. To use the exchange, users must bridge their ERC-20 tokens from ethereum to xDai.

Who are the founders of Honeyswap?

Honeyswap is governed by a DAO in a decentralized and censorship-resistant manner. Honey tokens are used to vote on governance proposals. The decentralized exchange is based on the 1Hive protocol, which is based on software built with Aragon. Developed by the Swiss nonprofit Aragon Association, Aragon makes its open source architecture available to DAOs.

When will Honeyswap be available?

Honeyswap launches in September 2020.

Where is Honeyswap located?

Because it is a decentralized exchange governed by a DAO, it is managed in a decentralized manner and does not have a central location.

Countries that restrict access to Honeyswap

There are no formal restrictions on access to decentralized exchanges like Honeyswap. However, users from countries that are sanctioned by the US government may be subject to sanctions. These countries include Cuba, Iran, Zimbabwe, Iraq, Crimea, Syria, Sudan, Belarus, and the Democratic Republic of Congo.

List of tokens supported by Honeyswap

As an offshoot of UniSwap (V2), Honeyswap supports a variety of ERC-20 tokens.

What are the fees for Honeyswap?

Honeyswap charges a 0.3% handling fee for token conversions. Of this, 0.25% is redistributed to liquidity providers and based on their pledges in the liquidity pool; the other 0.05% is an agreed fee charged by the exchange itself.

Can I trade with leverage or margin on Honeyswap?

The exchange does not offer leveraged or margin trading.