Smoothy.Finance to launch IDO on Ignition!

PAID Ignition is set to launch Smoothy.Finance, a novel single pool liquidity protocol specialized in low-cost-zero slippage swapping. We are thrilled to bring this rare opportunity to our awesome community!

  • Smoothy.Finance Whitelist Open: April 17, 2021 11AM UTC
  • Smoothy.Finance Whitelist Close: April 22, 2021 4AM UTC
  • Smoothy.Finance IDO on Ignition: April 27, 2021

The whitelist for Smoothy.Finance is closed.

What is Smoothy.Finance?

DeFi’s explosive growth has spawned the creation of several anchor coins on the Ethereum Network such as BTC, USDT, and GOLD. At present, over 20 anchor tokens exist — all backed by similar assets.

As DeFi becomes mainstream, more anchor tokens will be thrown into the mix. The swap ratio between anchor tokens should theoretically be 1:1, but current Ethereum-based DEXs aren’t designed for stablecoin swaps, which means users shoulder unnecessarily high gas and slippage costs.

Smoothy.Finance overcomes these hurdles by being a novel stablecoin swapping protocol for same backed assets, providing users a more affordable, single pool swapping alternative.

Though deployed on Ethereum, the gas fee required to swap stablecoins on Smoothy is reduced by 90% compared to Curve’s yPool and mStable. Smoothy achieves low gas fees through algorithm optimization and ensures composability by not using a layer-2 solution.

The Smoothy protocol is also capable of supporting 100+ stable coins — compared to Curve’s 4 — while providing low-cost-low-slippage swapping and the highest interest rates for liquidity providers (LPs). What’s more, there is no ‘lock up’ time for assets and LPs can withdraw liquidity anytime.

How It Works

Smoothy.Finance’s reserve bank system is designed with a unique Dynamic Cash Reserve Algorithm, which actively allocates the majority of funds in the underlying interest-earning platform, while the rest is reserved to meet daily swap needs. In other words, in addition to governance token earnings, liquidity providers can gain swap fees together with interest earnings and lower gas fees.

Smoothy.Finance ensures low-cost-zero-slippage with an algorithm that guarantees a 1:1 ratio swap most of the time. If not, the swap still goes through by imposing a low penalty fee that acts as slippage.

Liquidity providers (LP) can gain income from 3 features of the Smoothy platform. This is what Smoothy calls the LP reward. The LP reward is taken from the swap fee combined with the slippage fees, and interest from the Smoothy.Finance Vault**. The income from these 3 sources will be reflected in the Liquidity Provider token called syUSD.

**90% of funds in the pool will be deposited into Vault’s like Yearn and Venus to generate interest at about 10%~20% APY. The interest earned is the same for every stablecoin that LPs add to the pool.

*** $SMTY is the governance token of Smoothy

*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, must pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of Smoothy.Finance specific restricted KYC countries check HERE.

About Smoothy.Finance

Smoothy.Finance is a novel single pool liquidity protocol specializing in same backed assets with low-cost, zero-slippage swapping, and maximizing interest earning.

For any questions about Smoothy.Finance:

About Ignition

IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol which allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.

Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform, it FUELs projects and takes fundraising to the next level.

Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.

About PAID

PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.

PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.

For any questions for the PAID network, please feel free to reach out to us on:

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