UNKNOWN

DECEMBER 2022

GLOBAL

MINSWAP

DESCRIPTION OF EVENTS

"A Sassy UnderCat in Space. A decentralized exchange governed by a community that zaps."

 

"Earn Liquidity Providers that deposit both assets of a pair are rewarded with swap fees."

 

"Farm MIN tokens are rewarded to Liquidity providers who stake their Liquidity Pool Tokens."

 

"Zap-In Provide Liquidity with one token of the pair."

 

"A Mobile-native Wallet The Most Mobile Friendly DEX on Cardano Blockchain."

 

"Minswap is a Decentralized Exchange (DEX). The purpose of a DEX is to enable permissionless trading of token pairs. For each swap, a fee is taken, which goes to the Liquidity Providers (LPs). Anyone can provide Liquidity as well, hence profits are decentralized. Minswap is a community-centric DEX, in that $MIN tokens are fairly distributed, without any private or VC investment. Minswap has pioneered several ideas in the Cardano ecosystem such as the FISO model (touted as the fairest ISO model in the Cardano community) or a focus on Protocol Owned Liquidity."

 

"Minswap is the most prominent decentralized finance application on the Cardano blockchain with a total value locked (TVL) of $28.45 million."

 

"Our tokens are fairly distributed without any private or VC investment. This ensures our community of users are maximally rewarded, not speculators and insiders."

 

"Minswap investigates a front-running attack on its platform after a user called their attention to a suspicious transaction.

 

Minswap, one of Cardano’s foremost multi-pool decentralized exchanges, experienced a front-running attack yesterday, Dec.8.

 

The attack was first discovered by a Twitter user CryptoVincenzio when he noticed that an account was frontrunning orders and taking profits"

 

"Front-running is trading stock or any other financial asset by a broker who has inside knowledge of a future transaction that is about to affect its price substantially. In crypto, front-running typically occurs when a miner or a full node operator with access to information on pending transactions places an order that would make them profit on the pending trade."

 

"These are for market orders. Setting a limit order would give anyone else fair game for knowing about the order parameters and working around them.

 

A market order shouldn't allow someone else to front-run with the knowledge it will be placed, however."

 

"After a couple of hours, MinSwap announced it had fixed the issue. The attacker canceled newly created orders because they could not “get ahead of the user.”"

Minswap is a community-centric decentralized exchange (DEX) on the Cardano blockchain, known for its fair distribution of $MIN tokens without private or VC investment. The DEX operates on a permissionless trading model, with swap fees benefiting liquidity providers (LPs). Minswap uses a FISO (Fair Initial Stake Offering) model and emphasizes Protocol Owned Liquidity. It has a total value locked (TVL) of $28.45 million, making it a prominent decentralized finance application on Cardano. Recently, Minswap faced a front-running attack, detected by a user on Twitter. Front-running involves exploiting advance knowledge of pending transactions to profit, and while the attack caused concerns, Minswap promptly addressed and resolved the issue, ensuring the security of its platform.

Sources And Further Reading

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