We’re excited to announce the arrival of Agora Swap to the Agora ecosystem.
Our community now has an efficient way to trade assets within Agora itself, and LPs will earn both yield from supplying to Agora as well as trade fees on top of AGORA rewards.
The TLDR on Agora Swap is —
- Cheaper for traders (0.1% trade fee vs 0.3% for most other AMMs). Conveniently trade for assets already supplied to Agora and therefore earning APY.
- More profitable for LPs (Agora supply APY + Agora Swap trade fee APY + AGORA rewards APY).
A handy user guide, along with gifs can be found here https://agora-defi.notion.site/User-Guide-31b7fa96f4c54d079d2e2a4400278221
Ok now for a bit more detail on Agora Swap and how it’s different to other Uni V2 AMMs.
Agora Swap is our kToken swap, which means the assets for trading/LPing are first supplied to Agora itself — making them yield generating assets, since suppliers on Agora get lending APY.
This is a more efficient use of capital since not all of the assets in markets are borrowed all the time.
For now, users who have supplied to Agora can think of Agora Swap as a way to go between assets already on Agora. If I have supplied USDC on Agora, I can swap for Metis thats supplied on Agora without needing to firstly withdraw my USDC, swapping for Metis on another AMM, and resupplying the Metis to Agora to earn APY.
In future, we will have automated zaps which will allow people to come with non Agora (kToken assets) and add their assets directly to Agora via Agora Swap, benefiting the ecosystem overall.
A couple of updates since our last article:
Instead of Agora++ for LP borrowing we will instead have Agora Farms which will reward Agora Swap LPs. Think of this as your standard LP farm.
We will release a detailed article on the farms when they go live by next week.
Agora+ liquidity mining incentives will stay on until the farms go live.
As always, documentation is laid out in our notion docs https://agora-defi.notion.site/agora-defi/Agora-DeFi-Documentation-954828516fa24acfa2b301255c411cb2
See you in the Agora!