Need Help? Here’s FAQ about CitySwap

(Updated October 2nd 2020)

1. What is CitySwap?
   CitySwap is a decentralized exchange(DEX) consisting of automated market making(AMM) pools for exchanging ERC-20 tokens on Ethereum. Unlike CEX(Centralized crypto exchanges), which is operated based on an order book, DEX(Decentralized crypto exchanges) enables real-time decentralized transactions through immediate value exchange within the liquidity pool already supplied from providers.
2. How it works
   Prices are determined by the amount of each token in a pool defined by a smart contract which maintains a constant using the following function: x*y=k. In this case x = token0, y = token1, k = constant. For each trade a certain amount of tokens are removed from the pool for an amount of the other token. To maintain k, the balances held by the smart contract are adjusted during the execution of the trade, therefore changing the price. And when users make a trade on the exchange they pay a 0.3% trade fee. Collected fees are allocated to the reserve of the pool. Once the protocol switch is turned on, CityToken holders will collect 0.05% of each swap, while LPs’ reward will decrease to 0.25%.
3. What is a Liquidity Pool?
   CitySwap pools allow Liquidity Providers(LP) to add their tokens to liquidity pools. A single liquidity pool holds 2 tokens and each pool creates a new market for that particular pair of tokens. When liquidity is supplied to a pool, the liquidity provider receives special tokens called CLP tokens. And these tokens represent a proportional share of the pooled assets, allowing a user to reclaim their funds at any point. Every time a user trades within the pool a 0.3% fee is taken on the trade. And the 0.25% goes back to the LP pool as reward for the liquidity providers.
4. CitySwap vs. UniSwap(SushiSwap)
   CitySwap provides its own tokens, ‘MetropolisToken(MT)’ and ‘CityToken(CT)’ as a reward to providers of specific liquidity pools to support market stability. MetropolisToken is distributed to those who provide liquidity to the specific CitySwap pools. They deposit their CLP tokens into the CitySwap staking contracts to start earning MetropolisToken. And each MetropolisToken is possible to farm and swap with CityToken. When the Liquidity Providers farm certain tokens with CLP token, 10% of the foundation’s share is distributed to the CityToken holders according to their share ratio.
5. What is CityToken?
   CityToken is the protocol token for CitySwap. CityToken, which has limited quantities, will be provided to the participants of CitySwap. By being listed on major CEXs(Centralized crypto exchanges), CityToken will have the generality and stability to establish itself as the key currency of the DeFi ecosystem.
6. How to earn CityToken?
   There are two ways to earn CityToken:
   1/ Farming the acquired CLP Tokens by supplying liquidity to the specific pools.
   2/ Exchanging it within DEX or CEX
7. CityToken Allocation (TBD)
   The total volume of CityToken is 6,841 million. It has been minted at genesis and will become accessible over the course of 4 years.
   The final allocation is as follows
   - 70% to CitySwap community members (1yr 20%, 2yr 10%, 3~10yr 5%)
   - 15% to team members and advisors with 4-year vesting
   - 10% to partners for marketing
   - 5% to investors for private sale with monthly vesting for 1-year
8. What is MetropolisToken?
   MetropolisToken, minted by CitySwap foundation, can be earned through liquidity supply within the CitySwap. There are 30 kinds of MetropolisToken that represent major cities in 30 countries in 2009 when Bitcoin was born. Each token is minted by the number of population in 2009. It starts to be farmed from when the predetermined sequence number of Ether Block is mined that is already scheduled. MetropolisToken is used as a liquidity pair to fram CityToken.
9. How To Farm & Earn MetropolisToken
   You can earn MetropolisToken through farming CLP token acquired by liquidity supply. cityswap.io allows you to stake your CLP token and receive MetropolisToken in return.
10. Is it Safe?
    As of October 2nd 2020, CitySwap is an unaudited project yet. As all we know, depositing funds into a smart contract always carries the risk of bugs, even for audited and highly reputable projects. However, we will invite a number of major auditing firms to audit CitySwap’s contracts. Audits are expensive, but we hope that users fund this project on a foundation of trust.
11. MetropolisToken List and Schedule