The gradual development of decentralized financial protocols is becoming apparent, with the total value locked in these platforms exceeding $50 billion. In general, the DeFi sector offers investors financial services revolving around decentralized exchanging, lending, insurance, and yield farming interests.
Bearing that in mind, the Jetfuel ecosystem has a long-term goal that looks forward to blending most of the DeFi services under one roof. As a DeFi-based ecosystem launched in 2021, Jetfuel has so far integrated a launchpad, yield farms, a lending system, automated compounding vaults, and Jetswap.
Jetswap represents Jetfuel’s automated market maker that facilitates instant trades to users in a decentralized manner. The decentralized automated market maker initially went live on the BINANCE Smart Chain in May 2021. A few months later, Jetswap moved another stride by launching on the Polygon network with pWINGS as its liquidity incentive token.
What to Expect on the Polygon Network?
Polygon operates as a layer two scaling solution that enables the development of interoperable blockchains. The network was previously known as Matic before rebranding to Polygon in February 2021. Jetswap users can expect the following benefits from trading on the Polygon chain:
Polygon fosters a fast payment system for Jetswap traders with the possibility of attaining a near-instant settlement service. The network accomplishes speedy transactions through the application of an advanced software development kit and an API
Transaction charges: Asides from bringing a fast transaction settlement, Jetswap users will enjoy trading on a cost-effective chain. The standard transaction charge for trading on Polygon is 0.10%. Therefore, users can trade with confidence, knowing that they will save money and encounter cheaper transactions
Users will not pay any deposit/withdrawal fees to undertake staking or farming. The only fee applicable is the 0.1% charge on swapping, as mentioned above. Out of the 0.1% charge, 0.05% will go to the treasury, while the remaining 0.05% is allocated to liquidity providers
In terms of security, Jetswap has successfully conducted several audits via Ether Authority and Hash0xafter launching on BSC in terms of security. Hence, the AMM platform uses the same auditing results on Polygon to guarantee users of their safety
pWINGS Token Stats
pWINGS native asset for Jetswap Polygon employs a similar burning and inflationary mechanism implemented by WINGS, the token powering Jetswap on BSC. The allocation and burning scheme is designed as follows:
An automated burn of 0.1 pWINGS per block
An allocation of 2 pWINGS per block to Pilot Pools and liquidity providers
Auto-Compounding Vaults receive 0.2 pWINGS for every block
Burning of 0.2 pWINGS per block from the treasury. This amount will handle any marketing and operation strategies
A total of 100,000 pWINGS will be generated for initial liquidity, with each token going for $0.50. Moreover, the native asset hopes to attain a launch market cap of $50,000. At the time of writing, the total value lockedin all pilot and liquidity pools stands at $341,669,718.
Asides from burning the team’s share, Jetswap Polygon will automatically burn 2,880 pWINGS daily. The burning action will occur across every future development to maintain a stable supply of Jetswap’s Polygon token. Farms on the Polygon network can generate an APR of up to 6.007.57%. It is worth noting that the creation of pWINGS follows different principles from the WINGS token since they leverage separate blockchains and contracts.
Getting Started
Users can access the Polygon chain directly through the Matic wallet. Alternatively, Metamask wallet users can follow a simplified procedure of leveraging the Polygon network. Here is how they do it:
On the METAMASK browser, click on settings and select Networks. Users then add a preferable name for their network. From there, indicate the new RPC, URL, and the chain ID numbered 137. Users can also choose to include the currency symbol as MATIC and a Block Explorer URL. Once users complete filling in these fields, they will be directly transferred to the Polygon network through Metamask.
Cross-chain functionalities are also available on Polygon using the bridging solution. In essence, traders can bridge their digital assets from BSC and ETH to the Polygon chain. However, the bridging options are still undergoing tests and developments, and users are cautioned from frequently bridging since they may lose their holdings.
The Meaning of a Fair Launch
In the context of cryptocurrencies, a fair launch is a term that describes the ability to acquire digital assets at almost similar prices over a long period. The main objective behind a fair launch is to enable the distribution of a token and design an ecosystem with collaborative communities.
Jetswap and Jetfuel's overall system follows the same concept because it enables users to obtain tokens on equal grounds. It also means that the DeFi platform did not conduct any presale, prefarm, or token distribution procedures.
The Jetfuel Team
Jetfuel's team comprises dedicated individuals with a combination of 30 years of experience in the blockchain and DeFi industry. The team also hosts individuals with various specialized skills ranging from entrepreneurship, marketing, and project management. In addition, the DeFi platform also contains social media personnel who work to guide users with any issue relating to the Jetfuel protocol.
Conclusion
Jetfuel anticipates making a difference in the DeFi industry by blending most of the services found in popular platforms such as Compound, Harvest, Yearn, and many more. Founding its flagship AMM platform (Jetswap) on different chains will ultimately attract mainstream users who wish to invest and maximize profits. More importantly, a cheaper, safe, and fast transaction model will propel the platform further and evade any scalability concerns that may emerge.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.
