CircleSwap FAQs
- What is Circle?
The conception of Circle recently becomes popular among blockchainers owing to the on-lining of CirclesUBI. Two giants spoke highly of the project and they are Vitalik of Ethereum and Hayden Adams of Uniswap. CirclesUBI, an influence-based asset exchange system, strives to distribute monetary value to equalize wealth in/between circles, functions like a universally accessible vault for wealth minting and allows all participants to issue crypto-asset for their own circle.
2.What is CircleSwap?
CircleSwap is a decentralized crypto-asset trading and management platform that integrates Circle, a group of like-minds and Swap, decentralized trading, enabling share of trust and benefits on the basis of transfer in/between individualized crypto-asset. CircleSwap features a rich array of financial derivatives including liquidity mining, banking and crypto-asset hedging.
CircleSwap stands at the heart of DeFi and combines the UBI’s philosophy of circling and influence-quantization/commercialization. At CircleSwap, Circle means the range of personal influence and energy scope, and other infinite possibilities hence curated.
3.Why is CircleSwap Unique?
CircleSwap believes that, on the basis of Six Degrees of Separation, everyone has their own unique influence, which is able to create credible ecological benefit within the scope of their influence.
1.Open: Everyone can create and join ‘Circle’.
2.Inclusive: Support non-LPT mining;
3.Sharing: Creating and joining a Circle presents exclusive superposition benefits to participants;
4.Social: Everyone can create Circle to realize their influence into crypto-asset;
5.Autonomous: All Circle can participate in the platform governance;
6.Multi-dimensional: Everyone can magnify their influence via ‘NCircle’ and ‘ECircle’.
4.CircleSwap Token — CIR
CircleSwap has the token ticker as CIR. A total amount of 1,010,000 CIR for user to participate in NCircle and ECircle, and it is distributed as follows:
*100,000CIR for airdrop;（NCircle）
*900,000CIR minted (450,000 for liquidity mining and 450,000 for Swap mining);
*10,000CIR for initial platform liquidity support.
5.CircleSwap Team
CircleSwap’s core development team has rich experience in the fields of finance, cryptography, blockchain smart contracts, and underlying transaction protocols. The trade risk control system and test framework for smart contract that team has developed for months will provide double guarantees for user transactions and experience.
6.CircleSwap Road Map
Jan 2021, launch of token swap, ECircle creation and joining, and liquidity mining;
Feb 2021, launch of UBI1.0 — swap mining;
March 2021, launch of Circle based NFT transfer, transaction, and auction;
April 2021, launch of UBI2.0 — mutual exchange of value and trust with Circle ecology;
May 2021, launch of Circle governance function；
June 2022, launch of CircleSwap based blockchain social platform, integration of DeFi and networking.
7.What is a Valid Address in CircleSwap?
A valid address is an address that follows the invite link shared by CircleSwap official or ecology user, and successfully registers at the platform; plus completion of successful transaction of no less than 100 HT or equivalent.
A valid address is able to enjoy full CircleSwap functionality, such as creating and joining an ECircle, participation in liquidity mining, Swap mining, UBI1.0 and UBI2.0, and most of which developed in future. However, invalid address can only experience basic function of the platform, for example token swap.
8.What is NCircle?
NCircle is short for Native Circle, which is a Circle created by any ecology user together with members who follow his/her invite link.
For example:
UserB follows the invite link of UserA for platform registration, and UserC follows the invite link of UserB. Then Both UserB and UserC belong to the NCircle of the UserA.
*The NCircle of UserA has B and C as Circle member, yet do not have D(even if D follows the invite link of C);
*Users enjoy adds-up at ecology airdrops if they are identified as both holder of a valid address and creator/member of an NCircle.
*Any ecology user can create their own NCircle, no matter if they are holder of a valid address.
9.What is ECircle?
ECircle is short for Evolutionary Circle, which is a Circle created by any ecology user together with their invites. Both creator and member of an ECircle should be holder of a valid address.
There is thresholds for creating and joining ECircle for maintenance of this ecology:
*Destruction of CIR is mandatory for ECircle creation, and the capacity of an ECircle relies on the amount of CIR destroyed by creator.
*Specifically, a 30 member ECircle requests destruction of 100CIR; 200 member ECircle requests destruction of 500CIR; 500 member max ECircle 1000CIR.
*Joining an ECircle requests mandatory destruction of 2CIR, and such amount is paid for by the owner of ECircle if the owners proactively invites an new member; such amount is shouldered by member themselves if they proactively search for and join an ECircle.
*An address can create or join one ECircle only, and they can not quit after joining an ECircle at the early stage of CircleSwap.
*ECircle users enjoy benefits from NCircle, and they are entitled to adds-up at CircleSwap liquidity mining and rewards from UBI1.0.
10.CircleSwap Liquidity Mining
Total CIR for liquidity mining: 450,000CIR
Participants: ECircle users
Liquidity mining duration: 180days and based on Big Bang Mathematical Model.
White list and weight of liquidity mining pools (five tentative trading pair for liquidity mining)
HT-ETH (weighted 1)
HT-BTC (weighted 1)
HT-HUSD (weighted 1)
CIR-HUSD (weighted 5)
HT-CIR (weighted 5)
11.ECircle Bonus for Liquidity Mining
When ECircle users (including users who create and join ECircle) participate in liquidity mining, under the condition that the amount of staked LPT is not less than 100HT equivalent amount, in addition to gaining their own LPT output, they can also get ECircle bonus. By join ECircle, users can share the liquidity mining income without LPT.
The liquidity mining power bonus of the ECircle creator is related to his/her own LPT computing power, the LPT computing power of all ECircle members (excluding creator), and the LPT computing power of all users in creator’s NCircle;
The liquidity mining power bonus of an ECircle participant is related to his/her own LPT computing power, the average LPT computing power of the ECircle, and the LPT computing power of all users in the participant’s NCircle;
When the user’s staked LPT is less than 100HT equivalent, he can only enjoy his own LPT computing power income and NCircle user rewards.
*The specific rules will be announced when the liquidity mining is launched.
12.Swap Mining
Number of CIR for Swap mining: 450,000 CIR (the platform will extract 10% of the output of each block as platform operation expenses).
13.NCircle Bonus for Swap Mining
When a valid address participates in Swap mining, in addition to gaining its own transaction revenue, it can also get a bonus revenue from the transactions of its members in its NCircle.
*The specific rules will be announced when the Swap mining is launched.
14.What is “UBI1.0”in CircleSwap?
UBI1.0 is an incentive mechanism set by CircleSwap to promote users to participate in influence mining. The transaction fee of the platform is 0.35%, of which 0.2% is rewarded to liquidity providers, and the remaining 0.15% will be converted into CIR to enter UBI1.0 as rewards to the creators and participants of ECircle.
Live time: To be determined
The detailed rules refers to the “Liquidity Mining ECircle Bonus”.
15.What is “UBI2.0”in CircleSwap?
UBI2.0 is the DAO autonomous management model initiated by CircleSwap based on Circle’s early ecological development. In the UBI2.0 stage, the creators and joiners of Circle will have more governance authority, greater influence, and a wider range of influence income methods. A more free and extensive value circulation channel based on trust factors will be built among individuals and Circles, and CircleSwap’s ecology will be more abundant.
16.About CIR Airdrops
Airdrop time: To be determined
Airdrop quantity: 100,000CIR
Airdrop snapshot period: Beginning from the time that CircleSwap goes online and the end time is to be determined.
Targeted participates: All invalid addresses
NCircle Bonus: Initially, the airdrop weight of each address is 1 by default, but each address can get the airdrop bonus by expanding its NCircle. NCircle contains the Parent Block Address(PBA) and Uncle Block Address(UBA). The specific addition method is as follows :
Each PBA can add 0.3 airdrop weight to the account, and the maximum added weight is 1.5;
Each UBA can add 0.1 airdrop weight to the account, and the maximum added weight is 2.5;
The PBAs and UBAs can add 4 weights to the account, which means the maximum airdrop weight of a single valid address is 1+4=5.
Parent Block Address(PBA) definition: the valid address registered by direct invitation of A is the Parent Block Address of A;
Uncle Block Address(UBA) definition: the valid address registered by direct invitation of A’s PBA is the Uncle Block Address.
After users register through the invitation link, they will join the inviter’s NCircle by default. If they don’t, they can join by confirming later.
17.CircleSwap Fee Structure
CircleSwap platform transaction fee is 0.35%, of which 0.2% will be rewarded to liquidity providers, and the remaining 0.15% will be rewarded to all users who create and join ECircle in the UBI1.0 stage (specific rules will be announced before UBI1.0 goes online) .
18.CircleSwap Prospect
CircleSwap envisions an integrated ecology of networking and DeFi; provides a new influence-based economic paradigm that attracts new Circle curators and participants; launches a rich product portfolio containing loans, multi-farming pools, Circle NFT trading, etc.; a blockchain-powered social media platform; DAO governance platforms and Circle-oriented UBI plans. From individual influence to that of a Circle’s, CircleSwap hopes to facilitate smoother value exchange in the influence-based economics system.
