LuaSwap (LUA)

 Basics

• Announced on: 25-9-2020
• Mainnet release:
• Based in:
• From the announcement (25-9-2020):

"Multi-chain liquidity protocol for emerging token projects with no seed investment, founder’s fees, or pre-mining."

Token

Launch

• From the announcement (25-9-2020):

"LUA’s token economics is re-designed with a vesting schedule to not only reward early adopters but also incentivize them to stay and participate in governance for a longer period of time. The protocol will have a fair launch with no seed investment, founder’s fees, or pre-mine."

Token allocation

• From the announcement (25-9-2020):

"LUA hard-cap is at 500 million LUA. The base reward is 10 LUA per block divided across all existing LuaSwap pools. LUA farming features a short-term hyper inflationary period of 8 weeks in which block rewards have a 128 times multiplier in the first two weeks, and are halved every week afterward. 25 percent of tokens farmed in this period will be released immediately, while the 75 percent remaining will have a one year vesting period starting approximately at 17th week. The vesting period ensures token farmers have incentives to stay with the protocol over the long-term."

Utility

• From the announcement (25-9-2020):

"The LUA token will be given to Liquidity Providers (LPs) to incentivize them to stay with the protocol. Holding the LUA token means holding a share in the governance of the protocol. All LUA token holders can decide the subsequent chains to implement LuaSwap on, how much LUA to distribute to LPs in the new chain, which new token projects LuaSwap should support, etc."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed here.
• Built on: Ethereum

Liquidity Mining

• From the announcement (25-9-2020):

"Farming LUA on LuaSwap will start by staking Uniswap LP tokens from our Uniswap Pools. The swapping facility will be launched approximately 4 weeks afterward. When that happens, we will run migration contracts that migrate staked pools from Uniswap and SushiSwap to LuaSwap automatically. Users and liquidity providers won’t need to do anything if they want to stay with LuaSwap."

Governance

• From the announcement (25-9-2020):

"LUA token holders can exercise governance immediately by voting for the next pools in LuaSwap. Subsequently, new pools will be listed approximately every 3 days after staking starts using LP tokens from Uniswap and SushiSwap pools."

However:

"Governance, migration and swap contracts will be implemented in the later phases."

Treasury

• From the announcement (25-9-2020):

"An additional 10% of all LUA distributions will be set aside for the LUA treasury. The LUA treasury will be spent on auditing, development, rewarding contributors, and supporting new token projects by providing liquidity to LUA/new token pool. All spending proposals will be submitted via LUA governance platform. Similar to the Uniswap’s current setup, all the trading fees (0.3% of swap values) will be shared with the pool’s liquidity providers.

Later on, governance can trigger the smart-contract to impose a withdrawal fee of 0.5% or a time decaying fee on liquidity provider withdrawals and direct that revenue to LUA token holders. This proposal will reward token holders at the expense of short-term liquidity providers while keeping the fee share of loyal liquidity providers relatively stable."

Roadmap

• Can be found [Insert link here].

• From the announcement (25-9-2020):

"LuaSwap will improve with several additions planned for implementation. The first one is to port LuaSwap to other low cost, more performant public chains which will increase brand awareness, number of users, and increase the cash-flow to the protocol. The second is to work on a version of the AMM swap that can support leveraged trading which will potentially collect a larger share of fees than spot trading. The third is to improve the constant function algorithm to support new features, such as having more than a single pair of coins in one pool, or reducing impermanent losses."

Audits

• Bug bounty program can be found [insert here].
• From the announcement (25-9-2020):

"All contracts written have reasonable test coverages and subject to internal auditing. We will continue to do more testing, and invite professional third parties to audit the codes."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Seems to have been created by TomoChain since the announcement (25-9-2020) was published through their Medium account and most of the trading pairs are with TOMOE.