Atheneswap, named after Athene, the birthplace of the ancient Olympic Games and the first host of the modern Olympics, is the first decentralized finance platform of the Ground Chain.
The name Atheneswap signifies the establishment of a stadium for ecosystem participants and the creation of a genuine racing arena.
Atheneswap aims to specialize in a DEX tailored to the K STADIUM ecosystem while faithfully adhering to the AMM protocol. The AMM protocol, which replaces traditional order book-based trading with liquidity pools created by liquidity providers, is characterized by easy trading, fast speed, and high rewards. These characters are also inherited by Atheneswap. Atheneswap supports easy and fast swap for tokens which commonly used on the K STADIUM Ground Chain and rewards liquidity providers. Atheneswap fully aligns with the concept of a decentralized exchange. All activities on Atheneswap are recorded on the blockchain for transparent management. User assets, deposits and withdrawals, and transaction approvals are managed by individuals who have control over their private keys, rather than a separate administrator, and users can access all services by integrating with the K STADIUM Wallet.
Atheneswap focuses on the convenience of K STADIUM users and the growth of the ecosystem. Just as Ground Chain is the foundation for building its own ecosystem for K STADIUM users, the DEX of Ground Chain is also designed with K STADIUM users as a priority.
K STADIUM ecosystem follows a structure where newly funded projects are continually expanded into DApps through community governance voting. When project investments are decided and projects progress, newly distributed token are rewarded. These distributed tokens have independent value and can also be listed on exchanges of other networks. Atheneswap enables easy trading of these tokens all at once.
Atheneswap ensures user convenience and profitability. Users can become liquidity providers and supply their rewarded or held tokens to liquidity pools to earn additional income.
At the same time, new users can easily enter the ecosystem through Atheneswap. New projects in the Ground Chain ecosystem can now create liquidity pools and be traded on Atheneswap. Through Atheneswap, existing users can easily access new tokens, and in addition, the convenience of newly acquired users participating in new projects (DApps) is also increased. Users can now trade tokens based on the Ground Chain through Atheneswap without having to switch the network of the tokens to the Ground Chain using a bridge, even if they purchased the tokens from exchanges that only support other chains.
Through integration with the K STADIUM Bridge service, tokens based on other chains can also be traded on Atheneswap. The initial version of Atheneswap initially supports ETH and USDT. The range of tokens supported by Atheneswap will gradually expand.
Atheneswap participants are broadly classified into 3 categories.
1. Swap Users
Swap users exchange token pairs corresponding to the established liquidity pools. They pay a fee equivalent to 0.25% of the exchanged token amount.
2. Liquidity Provider
Liquidity providers supply liquidity to the exchangeable liquidity pools created on Atheneswap. Liquidity providers receive a reward of 0.17% of the swap volume by default. Additionally, they can deposit the LP tokens received from liquidity provision in the Pair Staking Pool to earn additional rewards.
3. Single Staking User
Users can utilize the single staking provided by Atheneswap, where they stake a single token for a certain period and receive rewards.
The participants in 3 categories can sometimes overlap. Participants engage in financial activities by utilizing one or more products offered by Atheneswap. The point is Atheneswap operates based on users’ interactions and voluntarily provided liquidity pools. All financial activities are transparently recorded on the blockchain without interference from a central authority.