What Is SalmonSwap (SAL)?
SalmonSwap is a decentralized exchange launched by the TronFi where users can forever earn the TRON tokens (the native token of the TronFi network). TronFi is a blockchain and smart contract development platform. Smart contracts are just like regular contracts, but instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
SalmonSwap aims to balance the short-term and long-term interests of liquidity providers and communities by giving out rewards to liquidity providers even if they pull away from their stake from the pool.
SalmonSwap aims to give liquidity providers a proportionate share of trading fees generated by each liquidity pool. The trading fee is 0.3%, and a part of the fee gets converted into a SAL token, the native token of the SalmonSwap platform. A portion is then distributed among past and existing liquidity providers. Out of the 0.3%, 0.25% is distributed among active liquidity providers, and the remaining 0.05% is distributed among SAL holders.
To become eligible to receive the 0.05% of the fee, SAL holders need to stake their tokens. The rewards they receive are directly proportional to the amount of SAL tokens staked and total SAL tokens staked.
Further, 5% of all the minted SAL rewards are allotted to the development fund to ensure the product's long-term practicality and maintain regular updates. The development fund was created to reserve funds for implementing all upgraded features and developments needed to meet the ever-changing needs of users that the community members select through voting. Another 5% of the minted SAL rewards is allocated for the upcoming Pearl Vault.
Lastly, to ensure the security of the token's contract in the future, the owners of the contract can become eligible to a timelock contract once the project gains stability. The aim of the timelock contract is to publish and delay all actions 48 hours before the actual execution of those actions.
History of SalmonSwap
The maximum total supply of SAL tokens is 500,000,000,000 tokens.