YaySwap

A hybrid DEX utilizing AMM and order book style methods of settling trades. Fees are charged at 0.25% and both ADA and babel fees are accepted.

Incorporating both order book and AMM styles of settling orders allows users to place their tokens for sale at a price higher than market price, or to place a buy order for tokens at a lower than market price and have them fulfilled by the protocol when the price reaches that level.

Fee Distribution

YaySwap charges 0.25% fees for trades and half of the fee goes to the Liquidity Providers, LPs, of the pool and are split proportional to their contribution to the liquidity reserves. The other half of the fee is split between those staking YAY LP tokens, again proportional to their contribution.


Babel Fees

The protocol also offers support for babel fees, meaning that a user can pay fees in the native token they’re trading and don’t need to be holding ADA to execute their trade. These fees go straight to the stake pool operators, SPOs.


Asset Listing

New and low market cap assets will not be listed in YaySwaps dropdown menu, and those who wish to trade them will need a custom link to do so. Once these assets have enough liquidity backing them then they will be listed in the dropdown menu.

Finally, wrapped tokens will be available in the future, allowing trading between tokens on Cardano and tokens on other blockchains.


RED FLAGS

It is worth noting that many influencers in the Cardano space are warning that YaySwap is a scam. So what can make them think that?

  • There is little-to-no information out there about the team working on the DEX

  • They have not been forthcoming with any updates on the progress of development.

  • They created a BETA version of an Ethereum cross-chain bridge, but there is no mention of a cross-chain bridge in their whitepaper.

  • Their website and whitepaper are basic yet comprehensive

  • They have also conducted their token sale and have been quiet on Twitter since early October 2021.

In their Telegram the Admin is still active and states that they should release their protocol by mid-January 2022 and then start ramping up marketing from there. Is it a scam? Many would tell you to tread carefully.

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Partnerships

YaySwap & Hard Blue

Hard Blue will be listed on YaySwap's cross-chain bridge.

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