SeaDEX Project Details are Live on Gitbook!
A detailed project description of SeaDEX is already live on Gitbook. If you have been roaming around the searching engine looking for SeaDEX in detail, with the release of project details in gitbook, search no more.
First, you will find the Roadmap that has been briefly shared before here:
You can also find product information, where a detailed explanation of the features available in SeaDEX will be explained here. As starters, the three main features of SeaDEX that will launch are trading features, yield farming, and staking. Trading feature has just launched around a week ago, so if you haven’t tried the swap feature yet, try here. This is just the beginning! SeaDEX plans to have many features that can accommodate the needs of traders and increase the utility of $SEAX.
At our core, SeaDEX is a Decentralized Exchange. A platform that allows you to trade cryptocurrencies or digital currencies for other assets.
One of the features available on SeaDEX is the exchange feature. There are two main functions of this exchange feature.
First, there will be a swap function, where we can swap two crypto assets of our choice. Second, there will be an additional liquidity function, which allows us to provide liquidity by adding our tokens to liquidity pools or “LPs.” By adding liquidity, users are given incentives in the form of transaction commissions.
This feature has already live so try now!
At SeaDEX, we use our farms to primarily incentivize users to provide liquidity for their favorite projects by rewarding them in SEAX. We are foremost a DEX, so the more liquidity we have, the more users can trade. It’s in our best interest to encourage liquidity for popular trading pairs on SeaDEX! Users can stake their SeaDEX-LP tokens using our farms after providing liquidity to earn high APYs through our platform.
If you’re considering supplying liquidity to one of our pools in order to farm, it’s essential to understand the effects of impermanent loss. For a great guide on impermanent loss, check out this article from Binance Academy.
In SeaDEX, users can also stake SEAX and get benefits in the form of other tokens. Projects that want to grow can also give away their coins through staking on SeaDEX to incentivize SeaDEX users to support the project.
After product information, you will find information about the $SEAX token and all you need to know about it, starting from general details, properties, distribution, and deflationary mechanism in the SeaDEX platform. Currently, 100% of trading fees have been used to buy back SEAX and burn (which we are planning to adjust in the future to build a SeaDEX Treasury). In the end, fewer and fewer SeaDEX tokens will enter circulation. However, there is no need to rush to take advantage of it, as we need to provide incentives to liquidity providers.
Some of the frequently asked questions have also been added to the detailed project if you still have questions. If your question is still not answered. You can directly ask in the forum. We are happy to answer all questions and concerns of all of you!
Thank you for the support, SeaSquad!
Project Detail Link: https://docs.seadex.finance/