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WingSwap is the AMM-based Decentralized Exchange on the Fantom Opera network and it is designed to exchange one token for another directly, bypassing trading platforms and other intermediaries.
To carry out exchange operations, the user does not need to create an account on the exchange, go through the KYC procedure and trust their funds to third parties. All the user needs to do is connect the browser wallet, select the exchange direction and make a transaction. Next, the smart contract will automatically send the corresponding amount of tokens to the user’s account.
WingSwap is an attempt to work around the performance restrictions of smart contract blockchains, especially Ethereum. Before AMMs came into prominence, decentralized exchanges attempted to use a classical order book mechanism.
Token swaps on WingSwap are a simple way to trade one FTM-based token for another token through groups of AMM.
WingSwap charges a 0.25% transaction fee for every trade. The collected fees will be distributed in the following ways:
- 0.17% will be distributed to liquidity providers
- 0.03% will be distributed to Wingswap Treasury
- 0.05% will go to our buyback $WIS burn system