DemodyFi

Due to Polakdot, the Demodyfi protocol has the capability to go beyond the limits of current Ethereum DEX’s with the opportunity to add tokens from the Polkadot ecosystem as well as from other blockchains to the exchange. Demodyfi is build on the Polkakdot Parachain with Substrate and embraces the use of the GRANDPA consensus algorithm to finalize blocks quickly, and as a result of which make transactions more scalable DeMody(FI) is a system designed to on ramp both entry-level and advanced users. A swap cross-chain exchange that allows its users to swap their local assets for other assets on the blockchain. In addition, any user can also become a liquidity provider, by supplying liquidity to the DeMody(FI) contract and start earning a share of the exchange fees. Its mechanism is predicated upon a digital token called DEMOD that allows its holders to participate in decisions affecting the parameters of the system. DEMOD token is distributed as a reward for contributions made to the platform and provides access to a variety of economic incentives. In addition to ERC-20 DEMOD token, DemodyFI also supports the Polkadot Protocol. In addition to trading, any user can become a liquidity provider, by supplying crypto to the DemodyFI contract and earning a share of the exchange fees. Our tokenomics is designed to incentivize the token holders and the users of DemodyFI Protocol. Here’s how DEMOD tokens will power the DemodyFI protocol: 1. Fee discounts — Nobody enjoys paying exorbitant fees to trade on Uniswap. In addition to the existing fee savings available to DemodyFI users, DEMOD token holders will get additional fees discount of up-to 10% to use DemodyFI. 2. Staking — A part of the fees collected from the DemodyFI protocol will be used to buy DEMOD tokens from the market. These tokens will be distributed to the DEMOD token staking holders. 3. Trading fees — We all know Uniswap liquidity providers earn 0.3% of the trading fees. DemodyFI protocol implements layer 2 settlements which will reduce slippage and save trading fees that goes to liquidity providers. A part of the trading fees saved by layer 2 settlements will be used to buy DEMOD from the market and distributed to DEMOD token staking holders. 4. Token burn — DEMOD is a deflationary token, 10% of the fees collected will be used to buy DEMO tokens from the market and burned. 5. Liquidity mining — Liquidity mining of DEMOD tokens when you trade on DemodyFI. Hold the tokens to get discounts, stake them to earn reward from the protocol. 6. Governance — Its mechanism for swap and governance is predicated upon a digital token called DEMOD that allows its holder to stake / participate in decisions affecting the parameters of the system. DEMOD token is distributed as a reward for contributions made to the platform and provides access to a variety of economics incentives. We are still building and coming close to our beta MVP before the end of Q4 like the roadmap states. Next to this project our intent is to support the Polkadot ecosystem and we have plans to release more based on our future ideas.