FairySwap is a privacy-centric DEX that provides fast cross-chain swaps with low gas fees.
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FairySwap, a new type of decentralized exchange with front-running resistance and programmable privacy, is debuting its mainnet product. To celebrate, they are launching a massive giveaway of 300K $FAIRY tokens, 3% of the total supply, in a “Pixie Drop” event. The giveaway will run for 12 days, starting at 12:00 pm PST (8:00 pm UTC) on Jan. 8th and ending Jan. 20th.
FairySwap is the First Decentralized Exchange (DEX) on the Findora Blockchain.
Findora is a new type of blockchain that makes on-chain data publicly verifiable without revealing any of that data.
Using Findora and its powerful Ethereum Virtual Machine (EVM), FairySwap is a privacy-centric DEX that provides fast cross-chain swaps with low gas fees. By keeping user data private, FairySwap will help prevent common hacks and exploits like Miner Extractable Data (MEV) and front-running.
A member of the team helping to build FairySwap said:
“FairySwap is pioneering the capabilities of a privacy chain like Findora. By building on Findora we are giving control and ownership of your data back to you – which was the original vision of many early adopters of Bitcoin and Ethereum. We are focused on individual control and want to ensure the protocol is community-controlled. Over 97% of tokens will be distributed to the community via mining rewards, and there is no unfair allocation to early investors, advisers, insiders, or the team.”
The Pixie Airdrop is primarily designed to reward early miners as well as supporters on social media. Of the 300K $FAIRY that will be distributed, 20K $FAIRY a day will be distributed to those who have staked FRA tokens (the gas token for the Findora blockchain).
The rest of the 60K $FAIRY will be airdropped at the end of the 12 day period amongst the FairySwap community via a contest.
FairySwap is the first automated market maker (AMM) decentralized exchange (DEX) on the Findora blockchain. It uses Findora’s powerful EVM to offer lightning-fast cross-chain trades even on Layer 1 chains like Ethereum and Binance Smart Chain, while still minimizing gas fees. By giving users programmable privacy, FairySwap allows compliance with local KYC requirements without revealing any data on-chain, protecting them from hackers and front-runners.
Findora is a public blockchain with programmable privacy. Originally conceptualized as a university cryptography research project in 2017, and finally launched to the public in 2021, Findora utilizes the latest breakthroughs in zero-knowledge proofs and multi-party computation, to allow users transactional privacy with selective auditability.
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Source: cryptobriefing.com