Coinswap space official Takeoff recap

Entire team would like to thank you very much for the massive support which we received during the Takeoff event.

Let’s go through the process again, initially we encounter some technical issues around production servers, because of that we needed to delay the start.

We have successfully launched CSS/BUSD liquidity pool at price $0.25, allowing members to start swapping BUSD for CSS, than the next step was to add CSS/BNB liquidity, but we have encounter transaction delay on Binance Smart Chain, so initial CSS/BNB liquidity has been added by the community. We have made a strategic decision to move 199,034 CSS tokens (966 tokens used for creating farm pool) into the Multisig secure smart contract. Those CSS will be used for one of the following purposes, CEX Listing, Increase Liquidity, Burn or for boosting rewards for the community.

Issues which have been raised by our fantastic community:

  • At the referral menu, there is a display error, not showing the amount of referred friends. Most importantly CSSFriends smart contract is working fine and all rewards are being distributed. (team is working on resolving the issue)
  • At the farm menu, there is an APR display error, showing the higher readings than it should be, again CSS emission rate set in MasterCSS smart contract is working perfectly, as described in the official documentation. (fixing APR Display error is our top priority)

Lets focus on positive aspects:

  • CSS token price went from $0.25 to as much as $17.08, you do the math on the yield. Currently holding nicely in the $14-$16 range.
  • TVL (total value locked) is at $5.2 million mark
  • Treasury wallet which is collecting 75% of farm deposit fee, is holding more than $100k ready for incentivizing the community through staking model which we are going to launch soon
  • 0.17% of every transaction fee shared between liquidity providers is being distributed accordingly to the set up.
  • Owner rights has been moved to Timelock smart contracts

We are now just over 14h since we have launched the Coinswap.space protocol, we are very pleased from a technical point of view, of course the process didn’t go as smoothly as we expected, but from now on we can focus on improvements and development of new features.

Please go through CSS Road map

https://doc.coinswap.space/overview/roadmap

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