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This article will give you a reference for investment through simple investigation, income analysis, risk analysis, etc. of the project, not as investment advice.
Project Description
Project name: ONES (OneSwap)
Project type: ETH contract
Obtaining method: Obtain ONES by staking the LP pair of mainstream coins in OneSwap and mining in OneSwap.
MINISWAP website: https://www.oneswap.net/eth
Security: The security level is high, and it has passed the slow fog review, sent shield audit, chain security audit, and triple code review.
rate of return:
According to the mining pool, it is the highest daily mining income: 22.79%, and the annual mining income is 8320.26% (UNI-ETH LP)
According to the mining pool, the daily income of mining is 8.62%, and the annual income of mining is 3146.32% (ETH-DAILP stable coin mining) (statistical date 9-18 noon 16:50)
Risk value: Because mining has not yet started, there is no real profit calculation for the time being
Total ONES issuance: ONES is an ERC20 governance token issued by OneSwap on ETH. The total supply of ONES is fixed at 100 million, of which 50% will be allocated to the community through multiple mining methods.
ONES is a deflationary token. According to the OneSwap white paper, the transaction fees generated in swaps and transactions are divided into two parts: 60% goes directly to the liquidity provider, and 40% goes to repurchase and burn ONES. ONES will automatically purchase and burn through repurchase.
OneSwap’s on-chain governance is achieved through proposals and community voting. Users with a sufficient number of ONES (more than 1% of the total number of tokens) can initiate a proposal, and any user holding ONES can vote for or against the proposal.
Start time: about 8:00 on September 19, 2020 Beijing time to start liquid mining.
Suggested combination: 10% UNI-ETH Bogao multiplier returns, 90% stablecoin or ETH-DAI for LP stable mining
Portfolio income: 10.04%/day Annualized income 3,663.5%
DPRO exclusive reviews
CoinEx was established in December 2017 and is headquartered in Hong Kong, China. It is a sub-brand of ViaBTC mining pool. CoinEx’s decentralized exchange is Oneswap.
I have already clarified the funder behind it, so its strength is naturally part of the research. After all, unlike ordinary DEX, it only has community governance. CoinEx is obviously a centralized platform. From the perspective of the exchange, the current operating conditions are not good. , There is not even a ranking above the non-small.
Let’s take a look at the profitability of the project. Whether a liquid mining project will tell a story is a critical part of the future value of the currency and the total amount of locked positions. The figure below shows the architecture design of ONES.
Its main selling points mainly include the following four points:
1. OneSwap supports transactions between all tokens that comply with the ERC20 standard. There is no need to review and zero currency listing fees to create a market. This cannot be said to be a bright spot. You can list the currency without any review. It can also be done on UNISWAP, and there will definitely be scams in the middle.
2. OneSwap supports automatic market-making algorithms, provides continuous quotations for the market, and joins the market-making fund pool to obtain fee income. This is also one of the biggest selling points of liquid mining, and other DEX exchanges can also do it. What’s more, the actual situation is that small exchange automatic marketers often face the situation of losing funds due to insufficient liquidity and insufficient depth. , Especially under extreme market conditions, I am not very optimistic about Oneswap’s automatic market quotation function.
3. OneSwap supports the traditional order book model based on fast exchange, and the transaction method is more flexible. This is indeed a big improvement. The function of automatic price exchange has been done very well on uniswap, but compared with ordinary exchanges, there is no limit order function, which makes many traditional users very uncomfortable. habit.
4. OneSwap conforms to traditional trading habits and provides users with a feature-rich and easy-to-use operation interface. There is nothing to say about this, it is nothing more than copying some k-line depth and other things to make it closer to the general centralized exchange page.
According to the author, these things can still stimulate a wave of market hype, because many old leeks have seen the familiar interface, which is obviously very intimate. As for whether the market will pay for this project, I still have doubts, because in the current form, all the hot spots are obviously on uniswap’s liquidity mining. Oneswap and UNISWAP on the same platform are still slightly insufficient.
As for other hidden dangers, there is currently no code security, because three audits have been passed. As for the pre-mining and distribution mechanism, we saw the distribution model very close to that of the ICO. Various types and distributions emerge in an endless stream. Compared with SWERVE’s complete community distribution, there is a gap in the galaxy. Compared with general liquid mining, it is far inferior. All kinds of founding teams, pre-mining, investment institutions, and early investors have distributions. This is not friendly to general participating users, and it also adds a lot of risk to the secondary market. The risk coefficient of large capital speculation and control is much larger. The project has the possibility of a wave of hype cutting leeks.
The profitability of mining is also incomprehensible. At present, the highest LP profit pair is UNI/ETH. As another decentralized transaction, uni is a mining reward. Why is there such a high on oneswap? The income is even nearly 8 times higher than the ONES/ETH pair, which makes the author a little confused, although the possibility of opening high rewards after ones is officially excavated is not ruled out.
In summary, as a small centralized exchange to transform to the current popular centralized exchange, oneswap can be said to be the first one. Based on this, the market still has a certain degree of recognition, but the author does not It is not optimistic that it can go too far, because there is no complete distinction from the general centralized transaction, and there are still various possibilities for trading. Of course, this is also a future trend, and there may be repeated operations in the future. , The author recommends that you only need to take a little bit of it and don’t devote yourself to it.
Mining tutorial
The first thing to do is to prepare a wallet (try to choose a mainstream wallet). Here we take IMTOKEN as an example. The registration and use of the wallet process will not be elaborated here. Prepare ETH and corresponding tokens.
Click Browse below, enter the URL in the search bar above or directly select the icon to enter the UNIWAP main page.
On the homepage, we exchange prepared ETH for UNI (or DAI, etc.).
Compared with general liquidity mining, oneswap does not need to mortgage LP pairs externally, so after converting into coins, you can directly enter the webpage for mining, the URL is https://www.oneswap.net/eth/farm. The website given by the author is to directly enter the mining page. Readers who need to know more about this project can click on the three horizontal bars in the upper right corner to choose to jump to different pages.
1. Select the mining pool you want to participate in, and click on liquidity mining or pending order mining to join. The author takes USDT/ETH as an example.
2. Click to join, click again to increase liquidity. Let users create or add wallets. The author here chooses to link an existing wallet, you can choose Little Fox or another wallet. The author chose to directly add Imtoken.
3. Enter the number of transaction pairs to be mortgaged. The online will automatically adjust the number of corresponding currencies according to the number of sides. After clicking add, the user will be asked to choose the one that needs to be added from the two markets. Here you can choose according to the reader. Then click Confirm and authorize the payment of gas fees, you can start participating in mining.
4. Unsecured (after the pledge can be unsecured at any time according to the actual situation), the coins obtained by mining after unsecured will be automatically collected into the wallet.
Benefits and risks
Since the official mining has not yet started, there is no actual test of the author’s earnings here, and friends who are interested can try it by themselves.
Trend forecast
Judging from the development history of Defi, mining is really a rain of red envelopes. Don’t talk about being cut from leeks to being deceived. The money within the scope of their knowledge can definitely be earned. Users participate in liquid mining and lose money. Most of them are due to lack of cognition. Whether it is EOS’s emerald runaway incident or sushi’s leader cashing out, they can be detected or avoided in advance. Jade obviously failed the audit, and since the sushi users who chose the eth-sushi pair chose high-yield, they did not go to the secondary market to hedge the risk, and foolishly believed that the price rose all the way, then it is understandable to be harvested by capital.
Mentioning Oneswap again, the current security of the code level has surpassed most projects. Of course, it has to be said that the review of the code does not mean absolute security, only the security before the audit, and the subsequent update iterations are not without any Assure, in this regard, excessive pre-allocation and founding team rewards are not a good phenomenon. However, since it has been reviewed, the author thinks that it is still possible to participate. It is enough to participate in the case of protecting the principal, and do not use the trading pair of ones.
A liquidity competition has gradually begun, and capital is profit-seeking. Under the same security situation, whoever has the highest income will go to whoever has the first CEX to DEX. I believe that there will be more in the future. I look forward to it. There are more changes, because it means that the popularity of defi will be higher in the future, and liquid mining can continue to give more users the opportunity to participate in this dividend.
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