grape whitepaper flow

Grapeswap Whitepaper

Abstract

In this paper we introduce Grapewap, a Lidia finance framework built on top of Binance Smart Chain (BSC) with the intent to introduce other multi-chains; Ethereum, Polygon, Fantom, Houbi, Avalanche, Solana, and Polkadot just to name a few. Grapeswap is a decentralized ecosystem designed to redefine the Decentralized Exchange (DEX), Automated Market Maker (AMM) and Swaps. The services include staking, farming, auction, swap, lottery, order book and rewards. 

Introduction

The current market is saturated with DEX’s with varying offerings that were forked from other DEX’s.  Grapeswap framework is built on top of Lidia finance and managed by Beeders, a blockchain as a Service and custom software platform. This unique combination of the Lidia framework deployed as a baselayer DEX with an inherent software development platform, radically differentiates Grapeswap from the existing market of simple DEXs.  Grapeswaps long term vision is a leading-edge efficiency DEX, with an inherent development protocol empowering leading-edge developers a market for Decentralized Finance (DeFi) products and services to “unbank the banked”.  

The foundation team has more than 20 years of experience working with Custom Software Development, adding technical competence, dynamism, innovation and modern management models. We are a team of five with three full-time programmers that have several years of experience. We started Grapeswap in January 2021 on the BSC platform to create and showcase our collective talent. GrapeSwap is a DEX and an AMM on Lidia finance framework built on top of Binance Smart Chain. 

Currently, Grapeswap offers staking, farming, auction, instant buy, and rewards.  Moreover, from its origin, Grapeswap has focused on engaging the cryptocurrency and token communities by making it’s U/I interactive and fun.  We believe by building small familiarities within the blockchain framework (such as the upcoming Grapeswap Grapenopoly game), we build big opportunities for education in our community of users.  The Grapeswap Team of developers are continuously releasing updates that gamify the blockchain experience, with recent deliveries including; Grapenopoly, Binary Options, Auctions, and Community Rewards.  

$Grape token is deflationary through its unique burn mechanism which is based on users activities/holdings with the intent to give burn token tickets to active users. Each ticket can be used to initiate the burning of $Grape tokens from the $Grape reserves. Grapeswap has nine Grape-Up tokens to improve APY/API earnings while staking. Each “Power-Up” (AKA $Grape-Up) token yields a specific multiplier for a specific set duration of time.  To incentivise participants, 1% to 5% staking for single staking token and LP tokens are collected and given back as rewards.  Each reward mechanism requires certain participants’ activities in order to be eligible; i.e., deposit, withdrawals, stake, unstake activities and x amount of Power-Up token. 

Anyone can create a token auction using a predefined list of tokens or a specific token by providing a contract address.  Each auction expires within a 72 hour window with an option to withdraw or postpone the bid for another 72 hours. 

Pools (Staking/Farming)

Single token Staking and liquidity pools are intended to incentivize participants to stake their token to earn $Grape token. Single token staking is a straightforward process that can be performed by approving the said token and stacking them to yield $Grape tokens.  Tokens can be unstaked at any time and rewards can be collected into the wallet.  Each liquidity pool consists of two BEP-20 tokens, and issues an BEP-20 LP as a proof of ownership. Pool token holders receive the swap fee paid by users who swap through their liquidity pools on Grapeswap or Pancakeswap. LPs are subject to impermanent loss should the prices of the tokens diverge from their original prices; we suggest taking this into consideration, in comparison with expected share of fees and yield, before making a decision to contribute to a liquidity pool. 

A Calculator is available on single taking and LP token for participants to estimate their token yield by inputting their planned liquidity amount prior to actual staking or providing LP.  Yields are calculated and rewarded by the second. However, the calculator estimates rewards on a daily, weekly and annual basis. 

Pools Flow

Pools run under a Smart Contract into some of enabled chains. All pools, represented by a token pair, are mounted into each Smart Contract of each chain with parameters that define how to increase earnings and the limits for deposit or withdrawal.

The picture below shows the Pools Flow steps starting from chain setup all sequences to finish in user gain withdrawal.

The APR calculation could be based on percentage of stake participation (% of share) or amount of participation.

Percentage of stake participation mode

When your stake are in % of share of some stake (eg. BNB/GRAPE), it’s position into some stake will be shared with stakes of other users. For each percentage position which your stake achieves you will be rewarded in token (eg. GRAPE) by second.

Amount of participation mode

Your stake position is independent of another users stakes, every earning of some stake (eg. BNB/GRAPE) will be based on your amount stake. For each unit of stake token (eg. BNB) you will be rewarded in token (eg. GRAPE) by second.

Earnings per share per second example for both percentage and amount mode

To exemplify this case, let’s assume you are in a stake which is informed:

Earnings per % of participation in stake share per second: 0.00001 USD
It means that each 1% your stake achieves you will earn 0.00001 USD in token reward. That is, if you reach 10% then you will be earning 0.0001 USD per second, and if you are alone in stake with 100% of share you will earn 0.001 USD per second.
1% in share participation = 0.00001 USD per second10% in share participation = 0.0001 USD per second100% in share participation = 0.001 USD per second
Earnings per amount of participation in stake per second: 0.00001 USD
For each unity of staked token per second you will earn 0.00001 USD in token reward.
1 unit in stake = 0.00001 USD per second0.5 units in stake = 0.000005 USD per second10 units in stake = 0.0001 USD per second100 units in stake = 0.001 USD per second

This method is used to bring consistency on rewards with independent contribution on stake.

APR Calculation

The rewarded token price is quoted in USD by Grape Swap Exchange https://grapeswap.lidia.in or Coin Gecko API https://www.coingecko.com/api/documentations/v3.

Each accumulated percentage reward per second is used for the year forecast result, called APR (Annual Percentage Rate).

Following the example above the APR is calculated by:

  • Let’s exemplify that invested token (BNB token of BNB/GRAPE) unity price is $200 USD;
  • 1% in share participation or 1 unit in stake = 0.00001 USD per second;
  • 0.00001 USD x 60 x 60 x 24 = 0.864 USD per day for each 1% share or 1 unit;
  • 0.864 USD x 365 = 315.36 per year for each 1% share or 1 unit in stake;
  • 315.36 USD / 200 USD = 157.68% APR.

The percentage share earnings is not directly based on amount, few or many is determined by participation share. Investors may enter using a few cents in a low used stake and earn high values in participation. New users may enter with high value and reduce another users participation increasing his/her own participation.

The amount of participation earnings is directly related to stake amount per unit of staked token. Being alone or having many users in the same stake will not affect earnings.

Supported Tokens

Grapeswap pool platform is technically able to support any ERC-20 token (included Liquidity Pool tokens) or most of existing Proxied token, which means that the platform can read Name, Symbol, Decimal places, Balance of address and perform transfer to any address or request transfer from any address (when allowed by allowance function). All mentioned functions are part of ERC-20 protocol (https://eips.ethereum.org/EIPS/eip-20) which is expected to be contained by some added token to Grapeswap platform.

Grapeswap will support the following tokens and will consider more tokens in the future. We welcome new token suggestions from our community via our Telegram Channel and Twitter App. 

  • BNB
  • CAKE
  • BTCB
  • USDT
  • ALICE
  • JULD
  • EGG
  • HELMET
  • ADA
  • 1INCH
  • DOT
  • ALPHA
  • VAI
  • XVS
  • DODO
  • TLM

Single Token Staking (sample)

LP Token Pair Staking (sample)

Auction

Auctions are a great way for the community members to sell/buy (blue-chip or obscure) tokens without the need of liquidity on various exchanges. This process creates a healthy bidding war between members of the Grapeswap community. Anyone can create a token auction using a predefined list of tokens or a specific token by providing a contract address for the said token.  Each auction has a 72-hour expiration with the option to withdraw or postpone the bid for another 72 hours. 

The winning bidder can claim their proceeds by selecting the “claim” at the end of the auction. By claiming the winner approves the transaction to pay with BNB token and claiming their token.  If the winner decides not to proceed, the auctioneer can postone to restart the bidding process or withdraw their token. 

Auction Flow

Auction can be considered as a timed-lock vault under a Smart Contract into some of enabled platform chains which is prepared by platform administrator to define default times, fees and costs parameters. Auctions are created by users which temporarily lock an amount of specific token to be sold at a minimum price. The BID price increases after each BID is received by another user(s). At the end of the auction time the winning BID has to initiate the final purchase of the winning BID. 

The picture below shows the Auction Flow steps.

Rewards

There are four Rewards offered by the Grapewap ecosystem; Grape Fortune, Joker, Grape Moment, and Grape Slot. Each reward is unique and requires specific types of activities to be performed by the participants. The 1% to 5% deposit fees for single token and LP tokens staking are saved in a contract.  These collected (JULD, CAKE, ADA, etc.) tokens are then given back through the rewards process of Grape Fortune and Joker. Each reward mechanism requires certain participants’ activities in order to be eligible; i.e., deposit, withdrawals, stake, unstake activities and x amount of power-up token. Similarly, the Grape Moment and Grape Slot rewards payout in $Grape token with the same types of activities for eligibility. 

Grape-Up – Tokens

There are a total of nine $Grape-UP tokens that are used as a boost mechanism to increase yield returns. The total supply of each Grape-Up token is 1,000,000,000,000.  We may implement a burn mechanism to reduce the initial supply or limit the emissions rate. 

  • Ruby – $GURUBY
  • Diamond – $GUDMD
  • Imperial – $GUMP
  • Fortress – $GUFORT
  • Turbo Jet – $GUJET
  • Festival – $GUFEST
  • Ice Pop – $GUICEPOP
  • Double Tasty – $GU2TASTY
  • Yummy – $GUMMY

Grape-up tokens are minteable (able to increase network supply by contract owner/administrator) made with ERC-20 standard.

Despite being used as a performance boost token in pools, Grape-up can be traded as value tokens in exchanges or directly. Users can initially purchase Grape-up via the platform’s token buy option.

Order Book

An order book is a list of buy and sell orders indicating price level or market depth. These lists help traders and also improve market transparency because they provide valuable trading information. There are three parts to an order book: buy orders, sell orders, and order history. 

Lottery – Binary Option game

A binary option involves two or more parties in a transaction that are assigned two outcomes of a “high” or “low” proposition, hence the name binary. After the five-minute countdown expires, participants in the binary option will receive payment in their favor, otherwise, a loss with no payout. Prior to the start of the binary option a fix multiplier is set indicating the payout multiplier. 

Deep Tools

The deep tools – i.e. tools created to offer users gains through using Artificial Intelligence, for example, Gaming Bets.

Section to be updated on a later revision of this whitepaper. 

NFT

The NFT section to be updated on a later revision of this whitepaper. 

Tokenomics

At Grapeswap our Tokenomics mirror our philosophy of:  

Fair Distribution

The $Grape token was not premined, and puts both the protocol & participants first by ensuring incentives focus on community participants first.  In staking and farming opportunities, APR (Annual Percentage Rate) is accumulated and calculated per second.  As an example; 

  • Let’s exemplify that invested token (BNB token of BNB/GRAPE) unity price is $200 USD;
  • 1% in share participation or 1 unit in stake = 0.00001 USD per second;
  • 0.00001 USD x 60 x 60 x 24 = 0.864 USD per day for each 1% share or 1 unit;
  • 0.864 USD x 365 = 315.36 per year for each 1% share or 1 unit in stake;
  • 315.36 USD / 200 USD = 157.68% APR;

This example means that for each percent of share or each unit of token invested using BNB your annual reward rate is 157.68%.

The percentage share earnings is not directly based on amount, but rather on participation share. Investors may enter with just a few cents, but still earn high values due to participation. New users may enter with a high value and can reduce other users’ participation, thus  increasing their own reward.

Max Supply: 1,000,000,000

Circulating Supply: 8,072,976

Presale Investors: None

Premine: None

Sustainable Future

With a viable emission period to sustain a broad community of base users, $Grape token is laying the foundation for a sustainable future.  With our innovative emission reduction schedule, executed via a burn token ticket, we are already differentiating our technology from the market of DEXs available on BSC.  

Additionally, Grapeswap believes that we minimize our risk through diversification across multiple blockchains.  This allows the Grapeswap Developers and Users, to vote with their participation on the blockchains that prioritize their values, such as low carbon emissions, inherent privacy, low transaction fees, etc. 

Emission Period: 2 years

Emission halfing period: Every 100,000 blocks

Emission Reduction: Reserves via Burn token ticket

Community Driven

Grapeswap founders are committed to a community driven DEX, empowering it’s users with innovative defi applications.  They have committed 3% of the token supply to airdrops supporting new user adoption and exposure.  The Founders Supply is only 3%, with a 2 year vesting period. 

Airdrops % of Supply: 3%

Founders % of Supply: 200,000,000

Founder Lockup: Lockup over 2 years vested in 25% 

Platform Fee: 50% to user rewards payment and 50% to development improvements

Burning Mechanism

Grape token is deflationary through its unique burn mechanism which is based on users’ activities/holdings with the intent to give burn token tickets to active users. Each ticket can be used to initiate the burning of grape tokens reserves.

Multi-chain Integration

Our principle at Grapeswap is to be multi-chain capable, we will be implementing our own code without the need for external APIs.  Adding additional blockchains is a path towards more TVL, participants,and increased revenue streams for Grapeswap ecosystem.  Recently, Grapeswap released its cross-chain integration with the Avalanche Blockchain; Simultaneously minting 1,000,000 $Grape tokens on Avalanche, while burning 1,000,000 $Grape tokens on BSC.  

The total circulating supply of $Grape tokens, across all integrated blockchains, will never  exceed its maximum supply of 1,000,000,000 $Grape tokens.    

The list below is in no particular order of implementation. 

  • Ethereum
  • Polygon
  • Fantom
  • Huobi
  • Avalanche
  • Solana 
  • Polkadot
  • Tron

Governance – Audit and Voting System

Grapeswap has a core team of 3 who initially will guide the direction of the project with some input from our community. Since Grapeswap token was established, we have remained open to exploring governance functions and allowing additional community involvement. It is important in the beginning of a project’s life that the founding team has control over the direction and development of the project. Only after reaching a phase in the project’s life where the direct day to day input of the founders are not necessary to the continued development of Grapeswap would a governance DAO be considered.

Referral and Ambassador 

The referral and ambassador section is to be updated on a later revision of this whitepaper. 

Summary

  • Summary Grapeswap is a multi tier DEX with incentives to help participants to build their wealth. 
  • We believe the future of blockchain is here to stay and it will disrupt how business is conducted. We want to be on the forefront of this disruption.
  • Grapeswap is here for the long term and we want to unbank the banked.
  • We are ambitious and outside of the box thinkers.
  • We want to engage our community to provide ideas to help build our ecosystem.

Get Involved 

Twitter: https://twitter.com/GrapeSwap

Telegram Group: https://t.me/grapeswap

Grape Tools: https://grapestaking.lidia.in/

Contact us: [email protected]

By lidia

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