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SnowSwap is designed for low slippage stablecoin swaps and is based on the AMM (automatic market-maker) of the Curve project. By creating yVault stablecoin pools, traders can easily switch between different vaults without paying any withdrawal fees and can exit positions cheaply by switching to vaults with large enough token reserves, then withdraw them. SnowSwap users can also diversify their profitability across multiple stablecoin vaults by acting as a liquidity provider. They can also receive additional profitability in the form of trading fees, which will initially be set at 0.04% per swap.
The first pool supports yVault USDC, DAI, USDT and TUSD. The second pool will support yUSD and ycrvBUSD. After successful depositing, the liquidity provider will receive a ySNOW token, the value of which will increase in comparison with the base pool tokens as the AMM pool commissions accumulate.
SnowSwap also plans to implement a DAO into its platform so that SnowSwap governance token holders can vote on various innovations and changes on the platform to expand and complement existing functionality. The developers plan to stimulate the community in every possible way to make important decisions in the life of the project.
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The article is written by Alexey Usanov and Mr. Anton Dziatkovskiy, the co-founder and CEO of Platinum Software Development Company.
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