Honeyswap
Honeyswap[edit][edit]
Honeyswap is a decentralized exchange[1] , or dex, on the XDAI blockchain. It is uniquely conceived as a means to fund 1Hive DAO, which live-tests computer models of token distribution in a uniquely inclusive economic community.
An experiment in governance[edit][edit]
Honeyswap is run by 1Hive, an Aragon[2] DAO, in which decisions are made by the entire community. The conviction voting system[3] is used, weighting both time and amount of stake to reach a threshold to pass proposals, which can be written by anyone in the community. The community participates in governance through the DAO’s cryptocurrency, Honey, and also provides opportunities for anyone participating in the community to be awarded Honey thus increasing their stake in participation.
An experiment in economics[edit][edit]
Movements of tokens in a community, or “tokenomics” models on Ethereum[4][5] are often swayed by the entry barrier of high transaction costs, even to claim “free” resources. Honeyswap mitigates this barrier by being on the Ethereum layer2 scaling solution[6], xdai chain. The open-source software model allows many iterations to be simultaneously executed as software is often copied and run by many different groups, each with their own interpretations of the software. Honeyswap, “cloned” from another open-source decentralized exchange, Uniswap, then tied to a DAO, and xdai chain, a modification of Ethereum blockchain, as well as Uniswap, are examples of such iteration.
Other technology used[edit][edit]
Vitalik Buterin, the founder of Ethereum, pointed to the possibility of projects being run completely by smart contracts[7], without hierarchical systems for the people involved. Honeyswap, the first exchange run by an open DAO community, partners with many projects to attempt to model this ideal. Projects such as cadCAD computer model outcomes[8] of different financial incentives, implementations such as Aragon Court work out decentralized dispute resolution[9], and apps like BrightID work to prevent non-humans from participating.
References[edit]
- ↑ "This 31-Year-Old Is Trying to Revolutionize Cryptocurrency Trading". Bloomberg.com. 2017-09-28. Retrieved 2020-12-31.
- ↑ "Grace Rachmany - DAOs: The Good, the Bad and the Ugly". CoinDesk. 2020-12-18. Retrieved 2020-12-31.
- ↑ BlockScience/conviction, BlockScience, 2020-09-24, retrieved 2020-12-31
- ↑ "Home". ethereum.org. Retrieved 2020-12-31.
- ↑ "Home". ethereum.org. Retrieved 2020-12-31.
- ↑ jakub. "Ethereum Layer 2 Scaling Explained – Finematics". Retrieved 2020-12-31.
- ↑ Foundation, Ethereum. "DAOs, DACs, DAs and More: An Incomplete Terminology Guide". blog.ethereum.org. Retrieved 2020-12-31.
- ↑ Granovetter, Mark (March 2005). "The Impact of Social Structure on Economic Outcomes". Journal of Economic Perspectives. 19 (1): 33–50. doi:10.1257/0895330053147958. ISSN 0895-3309.
- ↑ "The Future of ODR: The Promise of Advancing Technology | MTTLR". mttlr.org. Retrieved 2020-12-31.
This article "Honeyswap" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Honeyswap. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
