1. Introduction
In 2020 DeFi exploded, with hundreds of projects flooding the market. The DeFi innovation workshop introduced extensive feature combinations through multiplexing modules such as DEX, decentralized lending, derivatives, decentralized stablecoins, DAO, Oracle, etc. While innovation often coexist with it greed for unlimited profits. In the early days of DeFi, we observed numerous DeFi shortcomings and immaturity which revealed opportunities for creative solutions to these issues such as risk control, user experience, etc. Solving these problems spawned DeFi space further innovations.
🖥️ User Experience of DEX
The experience of DEX users is still very different from that of CEX. Users who are familiar with traditional financial market trading or digital currency centralized exchanges may have a learning curve when they start using a decentralized exchange. In Pancakeswap, for example, users are unable to access the historical price of a trading pair through the interface, and thus they lack a clear understanding of what range the current bid price is in relation to recent prices. Additionally, Pancakeswap does not allow orders to be placed at a specified price which restricts flexible control over the execution of trades. What’s more, Pancakeswap doesn’t have intuitive features to help traders understand the profit and loss after the purchase (swap) of digital assets. Due to the congestion of transactions on the DEX chain, it often takes several minutes to know the final status of a transaction, which can incur a high (GAS) cost.
2. MigMig
MigMig is a de-financialization center that stands on the shoulders of DeFi’s predecessors, offering new millennials and Generation Z complete control of their financial products without any centralized custody. MigMig offers a solution for using a small number of digital.
assets, without the need to understand complex on-chain transactions or to have advanced financial knowledge. MIGMIG consists of the following main elements.
- MIGMIG Swap : a DEX based on an automated market-making mechanism.
- MIGMIG Automated Order: an AMM-based automated order mechanism that can be set to automatically execute orders in queue order when they reach a predetermined execution price. Provides arbitrageurs with automated tools to improve the AMM price formation mechanism.
- MIGMIG Smart Route: MIGMIG’s smart routing of orders across chains enables automatic selection of multiple mainnet liquidity pools. Support for more pairs and smaller slippage. MIGMIG Adaptive Bonding Curve: MIGMIG’s Adaptive Bonding Curve combines greater liquidity and better price discovery for different asset classes.
2.1 MIGMIG Uses and Acquisition
Possession of MIGMIG will have the following purposes.
- MIGMIG is the governance token of the MIGMIG DAO which provides proposals and voting rights to collectively determine the future of MIGMIG. Some of the governance rights include :
- MIGMIG time-weighted voting coefficient
- Increase or decrease of the MIGMIG Pool fee depending on the volatility of the trade.
- Adjusting the speed of liquidity mining to release MIGMIG
- Adjusting the MIGMIG allocation weights between different liquidity pools
- A bonus weighting factor for locked voting
- Minimum collateral requirements to become a brokerage Holding and pledging MIGMIG to become a decentralized brokerage that offers a rich implementation of the MIGMIG Automated Order to its Traders. The brokerage will receive a percentage of the commission and will reward or penalize MIGMIG. Rewards and penalties are determined according to whether the service provided meets its goals. Users can earn TITAN rewards by building for the MIGMIG ecosystem.
- Inject liquidity into the MIGMIG Pool liquidity pool and become a liquidity provider.
- Use MIGMIG Swap to complete transactions and activate the ecosystem of MIGMIG decentralized financial center.
2.2 MIGMIG Automated Order
MIGMIG Swap is a decentralized exchange DEX based on AMM’s Automated Market Maker (AMM) mechanism, which greatly simplifies the market making process compared to the traditional order book model. MIGMIG Swap allows anyone to inject liquidity into the MIGMIF Pool and earn a profit. The Trader has support for a smaller number of order types compared to the order book model. MIGMIG Automated Order provides the ability to enrich order types in the AMM mechanism, from limit orders to trailing orders, and even automated arbitrage based on them.
The MIGMIG Automated Order capability will be provided by a different brokerage, which will be able to track the latest prices and slippage in the MIGMIG Pool through contracts, operate with the user’s authorization when prices meet traders’ predetermined values, as well as track orders, CEX and DEX spread arbitrage and more sophisticated functionality. Different brokerages compete with each other by securing MIGMIG, and when specified conditions for trade are met, the brokerage that fails to complete the order according to the specified logic will be penalized by MIGMIG, while efficient completion will be rewarded by MIGMIG. The trader will give preference to the brokerage with lower service rates and more efficient execution to complete the automated order.
3. Tokenomics
Total Supply 30,000,000,000,000,000
Liquidity % 65
Farm %14
Goverance %10
Team %7
Marketing %4
4. About Us
Project MIGMIG is built by the MIGMIG Foundation. We are a group of experts in cryptocurrencies, trading, and decentralized finance.
While we have built the MIGMIG protocol, it is permissionless–we do not hold special power anymore. It is up to you, the crypto community, to use it as you will.
5. Disclaimers of liability
This article is for informational purposes only. It is not investment advice and no investment decisions or recommendations should be made based on the evaluation in this paper, nor should it be relied upon for accounting, legal, or tax advice or reliance.