What Is MilkySwap(MILKY)?
MilkySwap is a custom-built decentralized exchange built on the Milkomeda sidechain for Cardano. They allows you to exchange tokens with low fees, faster transaction times, and minimal slippage, while also enabling you to bridge your Cardano tokens with Ethereum. The adopts a farming model that is a combination of SushiSwap’s and CurveDAO’s farming mechanics.
| Coin Basic | Information |
|---|---|
| Coin Name | MilkySwap |
| Short Name | MILKY |
| Max Supply | 1,000,000,000,000,000 |
| Total Supply | 1,000,000,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Flexible Price
The live MilkySwap price today is $0.229010 USD with a 24-hour trading volume of $2,856.84 USD. They update MILKY to USD price in real-time. This is down 2.26% in the last 24 hours. The current CoinMarketCap ranking is #6547, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
If you would like to know where to buy The at the current rate, the top cryptocurrency exchange for trading in MilkySwap stock is currently. You can find others listed on crypto exchanges page.
Milkomeda
MilkySwap uses the Milkomeda sidechain to get around the issues many other DEXs face when working on the Cardano mainnet. The Milkomeda C1 sidechain uses MilkADA as its base asset for paying fees and gas. To access the sidechain, you will need a Cardano wallet with some ADA as well as the MetaMask browser extension. On the following pages they will walk through the steps to create a Cardano wallet in Flint, configure to get a Milkomeda C1 address, and finally send ADA to be converted into MilkADA on Milkomeda C1. The first step is to install Flint Wallet. You can find more details on M1 here.
Token Bridging
If you wish to bring tokens from another chain, you will need transfer them via bridging. Celer and MultiChain (formerly AnySwap) have both provided bridges into Milkomeda network. By bridging your tokens into the Milkomeda network, you will be able to use them on our DEX! They have provided links to their respective guides on operating their bridges. Be sure that in either bridge, you select “Milkomeda Mainnet” as the destination chain.
Exchange
MilkySwap deploys a simple swap interface which will allow you to swap tokens seamlessly. Just select the two tokens you wish to exchange and swap them.
The liquidity provided to the exchange comes from Liquidity Providers (“LPs”) who stake their tokens in pools.
Farming
Farming on MilkySwap is designed in a way that gives power to the community. They applies tried-and-tested farming models and combines them to provide farming that is efficient. It combines the best of SushiSwap’s and CurveDAO’s farming models, providing us the flexibility of SushiSwap’s emissions, with the powerful veCRV locking system of CurveDAO.
Churning
MilkySwap adopts a CurveDAO’s veCRV locking system which allows you to lock your $MILKY tokens for a fixed period of time. This locking mechanism allows you to lock your $MILKY tokens (through a veCRV ERC20 smart contract) in exchange for our governance token, $CREAMY. To receive $CREAMY, you must churn (lock) your $MILKY for a certain period of time (between 1 week and 4 years). The longer you churn, the more $CREAMY you get. 1 MILKY left to churn for 4 years is equal to one CREAMY. Over time, your CREAMY balance will decrease according to the length of the remaining lock.
Token Listing
They are always interested in adding new token listings to DEX. They hope to grow the MilkySwap community by having an ecosystem that other developers can develop in. They have provided a quick guide on how to get your token listed on MilkySwap.
Tokenomics
Quick Facts:
- Total Supply: 80,000,000 $MILKY.
- Airdropping 1mn of $MILKY in the first week of the launch.
- 60% of the supply will be community owned.
- $MILKY our native token, can be earned by staking into one of our farms.
- $CREAMY enables boosted farming to get more $MILKY from your farm.
Farming
50% of supply will be allocated for farming on MilkySwap. As a community-led DEX, they wanted to ensure that farming has a significant portion of the allocation.
DAO
4.5% will be allocated towards our DAO. After all, it will be the DAO that will be steering the ship for MilkySwap.
Investors
They have allocated 20% for investors. These tokens will be subject to a 6-month lock and 18-month linear vest schedule.
Team & Strategic Partners
They have set aside 20% for team members. These tokens are also locked for 6-months, and then vested linearly over 18 months.
Airdrops
As you have seen with our recent airdrops, they have been open to rewarding early community members. They have 5.5% set aside to allow for airdrop events.
