Why We Forked Uniswap? (ValueSwap)
At Value Network, when we decided to fork Uniswap and release our own implementation of the protocol, we had clear goals behind it. Let us walk you through why we thought forking Uniswap was the best way to go ahead.
ValueSwap on Mainnet — https://app.valueswap.valuenetwork.live/
‘Fork’ that is one on one with Uniswap’s
We have used one on one fork of Uniswap to roll out an exemplary product. Different addons to the fork such as blockchain-based referral system will add more value to it. We have forked frontend as well as backend to cobble up a cutting edge product.
Forking of different subsystems leads to building a more complex infrastructure. For example using Valueswap with a blockchain referral system gives referrals easier ways to exchange their referral fees on the go. Marketing also has a tremendous role in forking. As the technology stays the same, it is community and marketing that leads to the adoption of the fork.
Tradable bets
When Binary options platform is launched — the key priority is to make bets tradable on ValueSwap.
Fork’ to demonstrate our technical prowess
Another objective behind forking of Uniswap was to demonstrate our technical prowess; to show that we could work with blockchains easily and have the capacity to fork it. We’ve the ability to fork not just Uniswap but any blockchain product including Curve, Synthetix or any other, but let’s leave creating the whole ecosystem to another day.
When we discussed forking of a blockchain product hypothetically, there were few takers of it. Some were doubtful about our technical capacity to do that, but now that we’ve demonstrated it, we now want it to take it to another level. The next goal is to make Value Network interoperability with other blockchains. It refers to the referral system on other blockchains. Value Network is an economical term to indicate the compatibility term of the ecosystem.
‘Fork’ that introduced a new playground for liquidity providers
Value Network has rolled out a new playground for liquidity providers and traders to trade without competition.
‘Fork’ that ramps up the utilities of token
As a binary option product, the case of utilities for the VNTW token are around 5 to 7, namely:
- Paying commission on ValueSwap in VNTW
- Lowering of trade-related commissions
- Part of the market creation process
- Access to exclusive markets
- Staking (creating the new markets with staking)
- Pre-timing escape of the deal
- Advertising possibilities on the platform
- Payment solutions
Implementation of the product, however, as a fork of Uniswap increases the number of use cases to 10–15. More use cases are emerging and we will keep you informed.
Join Value Network community — https://t.me/valuenetworkchat
Unofficial trading chat — https://t.me/vntwtrading
Previous stories:
Binary options MVP is live on Ethereum Mainnet — https://valuenetworklive.medium.com/binary-options-product-is-live-on-ethereum-mainnet-cb8a24ba5ad
