WOWswap is a 1-click leverage trading & lending protocol that runs on Ethereum, BNB Chain, Avalanche, IoTeX, Solana and Polygon. Traders can buy and sell your favorite tokens with 5x leverage and provide liquidity to earn interest.
WOWswap is expanding to Metis with a Joint Venture with Netswap protocol.
On Metis, WOWswap will be integrated straight into the Netswap UI, so users can easily trade with leverage, manage their positions and lend assets without going to WOWswap landing page.
WOWswap is a fully community-owned protocol based on a simple idea: liquidity providers can create a liquidity pool , and traders can borrow these funds to buy up to 5 times more tokens. Protocol fees, interest rates for lenders and borrowers, liquidation ratios and other settings are decided by holders of WOW tokens — our governance token.
Making a WOW swap is as easy as making a regular swap on Netswap — extra capital will be automatically borrowed from the liquidity pool.
- Long/short tokens that are liquid on a partner DEX.
- Stake WOW for protocol revenue and governance rewards.
- Stop loss/Take profit.
- Notifications for managing positions.
- Decentralized liquidation bot.
- Decentralized referral program.
- Insurance fund.
- WOWswap Pro.
In the example below we use BNB Chain as an example, but WOWswap on Netswap will work similarly.
With 1 BNB you would be able to buy your favorite token for 5 BNBs, so you will receive 5 times more tokens.
Instead of the original token you will receive a proxy-Token (for example, if you bought CAKE you will get prxCAKE tokens), which is pegged 1:1 to the original in WOWswap’s smart-contract. Proxy-Token will be converted back to the original token when you decide to close your trading position.
If the price of your token goes up, you can swap proxy-Tokens back to BNB and receive a multiplied profit. In this case a 5% fee (set by community) of your profit will go to back to the community via the insurance fund (2,5%) and token buy-back and burn (2,5%).
If the price of your token goes down below the liquidation threshold, then anyone can become a margin caller by triggering the liquidation of your trading position — in this case you will loose all collateral invested in the trade.
WOWswap is bring a new feature to the Metis ecosystem - leveraged swaps and single token staking for all liquid Metis ecosystem tokens.
Leverage increases trading volume for the underlying Netswap exchange, as users with 100 USD purchasing power can buy tokens with 500 USD - this way increasing transaction volume by 5 times.
Support for single token staking is attractive for all Metis ecosystem project tokens, as token holders can earn yield without suffering from Impermanent loss.
Users can vote on critical protocol parameters that define the protocol’s security and profitability. These parameters can be changed on-chain with permissionless governance, that counts every vote and adjusts the protocol’s parameters without any downtime.
The procedure is fully automated, and parameters are updated instantly. In order to vote, WOW token or WOW liquidity token holders will stake their tokens to receive xWOW - non-transferable governance tokens.
The scope of WOWswap DAO includes:
- WOWswap Financial Parameters- defines all major financial parameters of the protocol.
- Economic Parameters - defines how WOW protocol generates revenue and redistributes it.
WOW is a governance tokens for WOWswap ecosystem.
To participate in Governance users need votes, represented by non-transferable xWOW tokens, which users get in exchange of staking WOW tokens and/or LP tokens (WOW/METIS and WOW/BUSD) in the Governance smart contract.
xWOW token is used for voting and Governance reward distribution. Governance rewards are distributed proportionally among all xWOW holders. Staking by itself is sufficient to get Governance rewards, no actual voting is required.
Governance rewards in form of token inflation, and chain native assets (it will be BUSD and Metis on Andromeda).
SOON ON NETSWAP!