SharkySwap is a relatively new Arbitrum-based decentralized exchange (DEX). Unlike Ethereum, which can be a little more expensive for frequent users to use for tiny transactions, Arbitrum seeks to deliver faster transaction times and reduced fees, therefore making value exchange more efficient.
It places a priority on community regulation. This means users have a say in the platform’s fee structure and the listing of new tokens because it is administered by a DAO (decentralized autonomous organization).
SharkySwap’s claims to have an intuitive interface for both seasoned traders and novices. For the safety of its users’ funds and to forestall hacking and other security breaches, the platform makes use of a number of security measures, including multi-signature wallets. SharkySwap has been audited by SolidProof.
Roadmap
Sharky Swap’s team is looking to provide new features that will enhance every user’s DeFi experience. The roadmap is a pre-launch plan.
A test version for the team and users to interact with the product, gain insight and fix up before going live.
Before the official launch of the Sharky Swap DEX, early investors will have the opportunity to purchase discounted $SHARKY tokens at a special event called the Sharky Swap token presale.
- Admin Securities (KYC/Audit/Review)
To ensure the safety of its customers, Sharky Swap uses Know Your Customer (KYC) compliance, security audits, and open-source code review. The team’s identities will be checked by KYC. The team will perform in-depth security assessments to identify and address flaws in the platform’s source code. The code can be reviewed by the community without any interference, which increases confidence in the platform. These enhancements will strengthen Sharky Swap and make it safer to use.
$SHARKY is SharkySwap DEX’s token. It is used to access trading, liquidity providing, farming, vaults, vote on platform issues and to access other unique benefits. It is an Ethereum-based ERC-20 token.
The official launch of Sharky Swap DEX on the Arbitrum blockchain is a much-awaited occasion.
Along with addressing all known issues with the v1 site, this version also introduces a complete rebranding of the Sharky Swap brand and domain.
With the next updates, the team hopes to add many more features. Sharky Swap versions 2, 3, and 4 are already completely thought out and under development, and we hope to add features like:
- 0% slippage on stable and wrapped assets (WETH -> ETH).
- Links between chains
- Instant Bridging from Arbitrum to Ethereum
- Sharky Lottery
- Sharky Launchpad
- Sharky NFTs
How to setup your wallet
The procedure of setting up a MetaMask wallet on the Arbitrum blockchain is a straightforward one that can be completed in just a few steps:
- To begin, get the MetaMask browser extension or the mobile app on your device.
- After you have successfully installed MetaMask, you will be given the option to either generate a brand-new wallet or restore an old one. You have the option of generating a brand-new wallet and securing it with a formidable password in order to keep your assets safe.
- Following the successful creation of your wallet, you will be provided with your seed phrase. It is essential to write down these seed words and keep it in a secure location, as it will be required in order to recover your wallet in the event that you become unable to access it.
- The next step is to link your MetaMask wallet to the Arbitrum network so that you can send and receive transactions. To accomplish this, go to the chainlist site and add the Arbitrum blockchain to the list.
- After successfully connecting to the Arbitrum network, you will be required to deposit some ETH into the MetaMask wallet in order to cover the cost of the network’s gas expenses. You can accomplish this goal by making a purchase of ETH on an exchange or obtaining it from the wallet of another user.
Features of SharkySwap
The trading features that Sharkyswap possess are
Creating a SHARKY-{ERC-20.token}, from an ERC-20 and earn daily income. Users previously needed to manually acquire both tokens of a Liquidity Pool pair before being able to merge them into a single SHARKY-Liquidity Pool token. Using Zap, users may instantly convert one asset in their wallet (say, BUSD) into another asset (say, SHARKY-ETH) by exchanging them with one click.
If you want to earn daily interest and trading fees on any of your ERC-20 tokens, you can deposit them in a variety of pools, vaults, and farms.
Exchange one token for the other on the low-cost Arbitrum network.
You can trade your preferred stablecoins with a minimal slippage that is close to nil. Do note, that this applies only to whitelisted ERC-20
From and to the Arbitrum One, you can move your assets between different chains. Do note, this applies only to whitelisted ERC-20
Use leverage and trading options like Limit Order, Stop Loss, and Take Profit in a decentralized way to build a strong position and follow your alphas.
The perpetual, bridge and 0% slippage are features that have not yet been rolled out to users but are still in development.
Tokensale
SharkySwap’s initial funding came from a community-driven token presale, during which early investors will be able to purchase $SHARKY tokens at a discounted price which was done through the presale contract address: 0x3d76e586e234513b9c0C0557c01C19aBd7083849
14% of the funds earned during the presale will be contributed to the Ecosystem Development Funds. These monies will be placed in a wallet that will be used to pay the future freelancers that the team will work with.
Tokenomics
The maximum supply of $SHARKY is 2,000,000. It employs a deflationary mechanism that every time $1,000,000 worth of volume is traded on the DEX, 1% of the total supply of $SHARKY will be burned, and also, the team will collect 20% of all fees. Over 200,000 is in circulation, with a market cap of over $600,000 and a 24-hour trading volume of about $6,000,000.
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