A New AMM DEX on the Terra Blockchain
LOOP AMM DEX
Loop is an AMM DEX built on the Terra blockchain, similar in functionality to other well known AMMs like Uniswap.
Loop will not only be listing many native Terra assets (LUNA, UST, MIR, ANC, etc.) but also ERC-20 tokens and SPL tokens which will come from the soon to be released Wormhole ETH-Terra-Solana bridge.
We are creating incentivised pools using the LOOP token, which will be a governance token but will also allow people to share in the trading fees (along with LPs).
Incentivised Liquidity Pools
We believe that once bridges are operational between Ethereum and Solana, that many users may wish to store and trade their ERC-20 and SRL tokens on the Terra network for convenience and cheap fees (in the case of ERC-20 tokens).
To this end, we are planning on incentivising pools that use these tokens and currently do not exist on Terra, including tokens such as:
ETH, WBTC, UNI, SUSHI, LINK, BNB, CAKE, SOL, SRM, FTT, ETC.
In order to encourage people to hold LOOP tokens, and not dump them on the market, many of our incentivised pools will be done with the LOOP token forming one side of the pair.
The LOOP token will have a number of purposes.
Firstly, it will act as the governance token of the Loop DEX, where token holders can vote on which pools should be incentivised and what the daily payout for each incentivised pool should be.
Development proposals can also be put forth by the Loop Community for new features of the DEX.
Secondly, for those who stake LOOP tokens, they will earn a percentage of the trading fees. Initially this will be set at 0.1% but this amount can also be adjusted by governance proposals.
Loop Positive Feedback Fund
10% of the LOOP token supply will be put into a special fund called the Loop Positive Feedback Fund.
These tokens will be automatically staked and income from this staked pool will go towards projects which are aimed at improving the world we live in.
These can be environmental or social projects, and will need to be voted on through governance.
Integration with Our Local Shopping App
Loop Pty Ltd (An Australian Company) is developing a local shopping and ordering app (see more at www.loop.do).
Through our app, customers can place orders at local retail, hospitality, and ecommerce businesses and get it delivered directly to their door through our partnership with DoorDash delivery.
Currently the app accepts credit card, Google Pay, and Apple Pay as payment options, but we will soon be integrating crypto payments as well using the Terra network.
Once the crypto wallet features are complete, we will be integrating our DEX into the wallet so that users are able to swap tokens within the wallet and merchants can accept payment in crypto and have it automatically swapped into stablecoins for price stability.
This will bring a wide range of mainstream users to the DEX and massively increase real world adoption.
We are also in discussions with other partners about integrating our DEX into their own platforms.