FAQ

Explain WanSwap

Wanswap is a new decentralized exchange built with automated market making (AMM) modeled after the explosively popular Uniswap, and built on Wanchain blockchain. In addition to the standard swapping and liquidity providing features common to all AMM DEXes, WanSwap also features liquidity farming inspired by related projects such as Sushiswap. WanSwap takes full advantage of Wanchain’s cross-chain features in order to power trading between assets from multiple blockchains using Wanchain’s cross-chain wanTokens including: wanEOS, wanETH, wanUSDT, an ever growing list of wanERC20 tokens, wanBTC and with more chains & assets soon.

The basic trading functionality of WanSwap comes directly from the Uniswap codebase. Liquidity Providers (LPs) are incentivized for providing liquidity to trading pairs with rewards drawn from the fees paid by users swapping between the paired assets.

Similar to Sushiswap and in addition to these features, WanSwap also provides a “Farming” page with extra incentives for providing liquidity to certain trading pairs by rewarding liquidity providers with the platform token, the $WASP token for WanSwap.

How to Add Liquidity

In the next section in the top bar, ‘Pool’, you can add liquidity to WanSwap. In the previous section, we mentioned that traders in fact trade with the liquidity pool. The funds in the liquidity pool can be provided by any user (liquidity providers). By staking funds into the liquidity pool, the liquidity providers own a share of the pool and hence can collect the trading fees generated by the pool. Any user can provide liquidity to WanSwap to earn transaction fees. You can either create a trading pair or add liquidity to an existing pair.

The following figure shows the ‘Add Liquidity’ interface. Users can add liquidity with just a few clicks. Afterward, liquidity providers get WSLP liquidity tokens. These tokens represent their shares in the pool and will be used to withdraw funds or in the yield farm.

When you deposit your WSLP tokens for farming, the details of the deposited liquidity are not visible in the pool tab. If you can’t see the details of a pair you provided liquidity for and that was not used for farming, you can import it. Click on ‘import it’.

Now put in the data. If everything is correct you will see the details of your liquidity provided. Click on ‘Manage this pool’ to add it to the pool tab.

The amount of tokens can differ from the amount you initially provided.

WSLP Token

When you supply liquidity to a WanSwap liquidity pool, you receive WSLP tokens in proportion to how much liquidity you supply to the pool. When a trade is facilitated by the pool a percentage of the fee is proportionally distributed amongst all the liquidity pools token holders. If you withdraw your assets from the pool, you will receive the earned fees but your tokens will be burned.

The liquidity pool token for WanSwap is WSLP, in WanSwap you can use your WSLP to withdraw your assets from the pool and it can be used for mining governance tokens: WASP.

Compatible Wallets

ZooKeeper platform is compatible with WanMask (desktop), WanWallet (desktop & mobile), and MetaMask (desktop & mobile)

Tokenomics

ZooKeeper uses a Dynamic Market Cap strategy as a result of the burning of ZOO tokens and the use of NFT Boosts within its farming environment.

The distribution of ZOO tokens is spread over 24 months at the rate of 10 ZOO per block. There will never be any form of pre-mining or pre-sale of ZOO tokens.

Token Allocation Breakdown:

77% will be reserved for the farming pools and is subject to the dynamic calculation below

9% will be kept for the ZooKeeper foundation

8% will be dedicated to marketing

3% will be reserved for advisors

3% will be used to purchase wanTokens chosen by the community

Because $ZOO has a dynamic market cap, we cannot provide an exact market cap figure due to the boost % from NFTs applied to pools and the lockup period used by users; These are all unknown variables until confirmed the point of application. Therefore, we have a Minimum and a Maximum market cap. It's impossible that either of these market caps will be the case at the end of the 24 months, and the final market cap will be somewhere in between.

  • Min $ZOO: 155,157,120
  • Max $ZOO: 393,059,532.10

To see how these figures are calculated, we have published a detailed post on our official Medium channel

Community Questions

Question

Answer

Docs say can use our WSLP tokens to farm on ZooKeeper. What does that mean? and what is WSLP?

When you provide liquidity in for example, the WASP/WAN pool.
You get WSLP tokens that represent your portion of the liquidity pool. You would (pre Zookeeper) only be able to use these tokens to farm WASP, but now you will be able to use those same WSLP tokens in the ZooKeeper dApp.
So instead of farming in WASP, you can dual farm in ZOO and WASP instead.
Dual farming is only on specified pools but WAN/WASP is a dual farming pool at time of writing this.

Do boosted rewards only apply to ZOO?

Yes, All boosted rewards only apply to the ZOO token

If I top up my WSLP will the lock period of time reset?

If you want to top up this is fine. Your days will not reset. However, if you did want to change this, the option is still there to increase locking time

If I top up my WSLP can I reduce lock period?

You can only shorten your lockup period with an NFT and that will be by the amount that is specified as a % on the NFT you use. You can switch out an NFT at a later time if you happen to get another with a bigger % reduction.

Is this project powered by Wanchain?

It's built and supported by some of the guys from Wanswap as well as some other well experienced community members. The development phase required help from Wanchain developers

Do I have to withdraw my liquidity from WanSwap?

No, liquidity stays with WanSwap. It is important that this is understood and you only need to withdraw from farming on Wanswap and not withdraw liquidity

I wonder how this Zoo stuff will benefit Wanswap/WASP

All liquidity farming on ZooKeeper will be through Wanswap. It adds a new currency to the ecosystem (more value) and therefore it should bring new interest in the form of new users

Have the contracts been audited?

The official audit is currently being processed by HAECHI (eta mid May 2021) while the current code has been pre-audited by the Wanchain Team

If I stake X amount of ZOO for a 2 days to earn a gold chest, Do I have to re-stake when the 2 days period ends to get another gold chest?

Yes. Although the number of ZOO tokens required to stake is dynamic and can change at any time, you will need to supply the required amount at the time.

Can I change or remove an NFT from a pool?

There are two ways to remove an NFT if your WSLP tokens are unlocked: replace with another NFT, or remove your WSLP tokens from farming on that pool. If you have locked your WSLP tokens in farming on the pool you have assigned an NFT to, the only way is by replacing it with another NFT.

Team & Partners

ZooKeeper team is comprised of local WanSwap community members and Wanchain Developers.

Current partners include: Wanchain and WanSwap.