Meshswap is an AMM* based decentralized exchange protocol to actively utilize the assets on Polygon. Its various economic incentive opportunities are designed to foster the growth of its ecosystem and provide more value to MESH token holders.
Created by the team at South Korea-based blockchain development company Ozys and born from KLAYswap in May of 2022, Meshswap is also leveraging the existing user base of its predecessor.
It was launched in part to give MATIC holders and Polygon users more access to liquidity and DeFi services.
*FYI, an AMM, or Automated Market Maker, is a popular tool in DeFi that utilizes a liquidity pool as a counterparty for traders rather than another person as is the case with traditional exchanges.
How does Meshswap work?
Meshswap allows its users to swap, lend, leverage farm, and stake crypto.
Meshswap prioritizes active engagement in the growth of its protocol and rewards the most active participants in its ecosystem accordingly.
Stakers on the Mesh protocol can lock in their MESH for rewards in the form of MESH and liquidity pool voting rights (vMESH). Stakers can also receive airdrops of Drops and Ecopot (defined a bit further down). They can also use MESH for re-staking.
With MESH Staker voting, users can vote on which specific liquidity pools allocate $MESH rewards. Meshswap is also open-source, meaning that anyone can contribute to its development.
vMESH
Stakers can receive voting rights rewards in the form of vMESH. And vMESH holders can receive part of the transaction fees generated from the farming pool they voted for.
Drops
Drops, one of the additional rewards for stakers, is one of the ways Meshswap supports other Polygon projects. That is, Drops are project token airdrops provided by DeFi projects on Polygon as a way to distribute initial token amounts. Drops automatically distributes to all vMESH holders.
Ecopot
Ecopot is an airdrop of project tokens from partners in the effort to onboard new users and provide more liquidity within Meshswap. Users who voted for a farming pool can claim Ecopot airdrops (in order to vote, a user needs to hold vMESH).
Multichain Economy
Meshswaps’s multichain economy allows its users to benefit from a unified trading experience. Currently the platform supports the Ethereum, Polygon, BNB chain, Stacks, XRP, and Klaytn blockchains.
It uses the Orbit bridge which allows for the secure cross-chain movement of tokens.
How can you use $MESH?
MESH is the ecosystem’s governance token, so stakers can vote on rewards distribution and earn in the process.
According to Meshswap’s documentation, the following use cases can be taken advantage of with $MESH:
Users can receive inflation compensation by using MESH for Yield farm.
Users can participate in MESH staking and receive MESH inflation compensation.
Users can participate in the vote to determine the MESH distribution rate of the MESH rewarding pool.
vMESH holders can receive free airdrop tokens in farming and Ecopot projects.
MESH can be used for governance voting related to the protocol’s agenda. (Scheduled to be updated)
MESH can be used to pay for creating a new farming pool
How to buy MESH
MESH is available on multiple exchanges like Poloniex! You can acquire MESH through trading with the MESH/USDT trading pair.
Feeling ready to get started? Sign-up is easy! Just hop on over to https://poloniex.com/signup/ to start your crypto journey🚀
was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
