What is PaintSwap?
PaintSwap is a decentralized exchange, representing itself as the newest Automated Market Maker (AMM) on the ever-growing Fantom Opera Network. Offering Fantom-inclusive farming pairs, low trading fees, and a user-oriented experience, PaintSwap looks to enhance the definition of a decentralized exchange while pushing forward the utility and promise that is the Fantom Opera Network.
Farming
PaintSwap's goal is to be the premier decentralized exchange on the Fantom Opera Network. To bring increased liquidity that stays here, the farms on our AMM must reflect our ecosystem and be inclusive of other Fantom projects, even if they end up being our competitors.
Our goal at PaintSwap Finance is to both provide competitive APRs for interested liquidity providers--thus creating a fantastic user experience with minimal slippage trades for the end-user--but also to create them in a structure that will allow for the sustainable, long-term growth of both our platform and the Fantom Opera Network at-large.
Please remember our liquidity provider fee structure when considering LP farm entry. If a user withdraws from their farm, a 0.5% fee will be applied to the withdrawal amount. 100% of this amount will go to buyback and burn $BRUSH. These deflationary measures help stabilize the $BRUSH token value while incentivizing long-term participation in the exchange.
Different farming pools
Staking
PaintSwap gives users the opportunity to take $BRUSH that they have received from airdrops and farmed $BRUSH from our four-week Initial Farming Offering (IFO) and make their money work for them. PaintSwap offers users a single-sided $BRUSH staking pool, where users can stake $BRUSH <> $BRUSH.
Since day 1 of the IFO, the $BRUSH single-sided staking pool have been available. The withdrawal fee has now been reduced to 0%.
BRUSH <> BRUSH staking
BRUSH
TICKER: $BRUSH
Contract Address: 0x85dec8c4B2680793661bCA91a8F129607571863d
Max Supply: 450,000,000 BRUSH
Chain: Fantom Opera Network (FTM)
Price tracker: PaintSwap Analytics
What is $BRUSH?
BRUSH is the token that brings PaintSwap to life.
It acts as a protocol token and be used as the token for our NFT marketplace and many application, as well as being the governance token--fully allowing the BrushDAO to guide where PaintSwap will go in the future.
Looking forward, we have many more goals and aspirations for what $BRUSH and PaintSwap can accomplish and contribute to the Fantom Opera Network. We'll be sure to share our ideas with the community as they come closer to fruition!
Distribution
Distribution: 70% yield farming, 10% airdrops, 10% team allocation (90% vested, 10% initial mint) , 5% BRUSHdao fund, 5% Initial Farming Offering
Initial Farm Offering: 22,500,000 BRUSH (5% of BRUSH total supply).
We've also included a graph to better visualize how we forecast the long-term emission schedule.
Rewards are vested following SushiSwap's model, aligning the long-term incentives of PaintSwap, its liquidity providers, and the holders of BRUSH. To this end, 50% of the BRUSH rewards are claimable immediately after they have been minted. The remaining 50% will be unlocked after 3 months.
Fees
Every swap on PaintSwap will incur a 0.3% trading fee. 100% of this fee will go directly to liquidity providers, as we believe liquidity providers should be fully rewarded for providing liquidity to our users.
If a user withdraws from one of our farms, there will be a 0.5% withdrawal fee incurred to the user. 100% of this fee will go to burn BRUSH.
The withdrawal fee, currently set at 0.5%, can be changed in the contracts. We have set it this way so that it can be voted upon and changed/removed by the community in the future via governance. The owner of this is a timelock contract which has a minimum of 24 hours for any changes. This should dissolve any fears of 'rugpulling'.
There is a 0% withdrawal fee if a user withdraws from the single-sided staking of BRUSH.
We believe our fee structure will strike a healthy balance between BRUSH token value, incentivizing farming, and keeping liquidity on the farms longer (to prevent hit-and-run scenarios). Like all things, if better solutions reveal themselves, we will act promptly to improve our early tokenomics.
How to get started?
So you decided you want to swap on PaintSwap. We don't blame you! You'll need a desktop wallet to start. We'd recommend MetaMask Desktop Wallet, used by millions worldwide.
If this is your first time creating a wallet, be sure to write down and/or backup your recovery phrase. Otherwise, you are at risk of losing access to your funds permanently. Currently, Metamask does not include the Fantom network but fear not. Just follow this guide to add a custom network. Then you go to PaintSwap and press connect.
Before you can stake or farm you need some tokens. For example to farm the BRUSH <> FTM pool you need 50% FTM and 50% BRUSH. FTM can be sent to your wallet from an exchange that supports it, such as Binance, or be swapped from other currencies either via the PaintSwap Exchange or AnySwap Bridge. BRUSH can be traded from FTM (or other tokens) the same way. If you send tokens to your wallet (Ethereum account) make sure to use the Fantom network because this has nothing to do with Ethereum, it just uses the same tools!
Now with your cool tokens you can choose to farm or stake with different level of earnings. Staking can be done directly with BRUSH and if you want to farm you need to first convert a pool pair such as BRUSH <> FTM into LP (Liquidity Provider) tokens. Then you stake the LP tokens in the farm pool to earn BRUSH. Watch this video to learn more about Yield Farming and you probably also want to know about the risks of impermanent loss.
Coming Soon
A brand new NFT platform on the Fantom Network!
Want to learn more?
Docs and roadmap: https://docs.paintswap.finance/
Analytics: https://info.paintswap.finance/home
Github: https://github.com/PaintSwap
Twitter: https://twitter.com/paint_swap
Discord: https://discord.gg/3fVYdk9ugv
Medium: https://medium.com/paint-swap-finance
Reddit: https://www.reddit.com/r/paintswap/
