Sideswap DEX is leading the way for Opside token utilization. Swap, add liquidity, and farm your favorite Opside tokens.
Welcome to the comprehensive Sideswap FAQ, covering everything from basic operations to technical aspects, activities, and future plans of Sideswap. Whether you’re an experienced DeFi trader or new to digital currencies, this FAQ aims to be a valuable resource for understanding and utilizing Sideswap to its full potential. Let’s explore the details!
1. What is Sideswap?
Sideswap is a ZK-Rollup AMM DEX based on Opside, designed to provide liquidity, peer-to-peer token exchanges, and market-making for Opside users. It operates as an open, permissionless application, removing the need for trusted intermediaries and unnecessary rent extraction. This ensures secure, accessible, and efficient trading and earning processes through liquidity pools.
2. How does Sideswap work?
Sideswap functions as a ZK-Rollup based AMM DEX, consisting of smart contracts that establish standard ways to create liquidity pools, provide liquidity, and exchange assets. Each liquidity pool contains two assets, and it tracks the total liquidity reserves and the predefined pricing strategy set by the liquidity provider. After each transaction, the reserves and price are automatically updated, without relying on a central order book, third-party custody, or private order matching engine. The automatic rebalancing of reserves ensures Sideswap pools are always available for token buying and selling, making it distinct from centralized exchanges as traders can complete transactions without matching individual trading counterparts.
Sideswipe's official links
- Sideswap website: https://www.sideswap.finance/#/swap
- Sideswap Twitter: https://twitter.com/SideswapZK
- Sideswap Discord: discord.gg/7Ng5RqqXQW
- Sideswap Zealy: https://zealy.io/c/sideswap-6411/invite/oVJewtUUSQmPHd8leNvqu
4. How can I get IDE tokens for the test network?
To obtain IDE tokens for the test network, visit the Sideswap official page and click on the “Faucet” in the navigation bar. You can then receive IDE tokens in the Opside Discord’s “for-general-users” channel. Every 24 hours, you’ll receive 50 IDE, 50 USDT, and 50 USDC.
Has Sideswap undergone financing?
Sideswap has not yet undergone financing, but small-scale financing may occur in the future.
High gas fees for Sideswap to switch to other networks?
Sideswap itself is just a DEX and does not handle cross-chain. Cross-chain fees are set by the Opside official and vary according to real-time trading conditions.
Will Sideswap have airdrop plans in the future?
There will be financing and subsequent airdrop plans in the future. For details, please pay attention to the Sideswap official account.
What is Sideswap’s future plan?
Sideswap will focus on platform scale, product performance, and asset liquidity in the future. Making user-friendly financial products has always been SideSwap’s goal. In the future, Sideswap will cooperate with more large-scale encrypted financial platforms to develop safer and more convenient smart protocols, providing users with a comprehensive suite of institutional-level DeFi platform products.
A quick overview of Opside.
- The Opside Network is a leading player in the ZK-Rollup-as-a-Service (ZK-RaaS) market with its innovative three-layer blockchain architecture.
- The three layers of Opside include a public chain (L1), Opside Chain (L2), and Rollup Layer (L3), interconnected through cross-chain bridges.
- Opside Chain provides fast transaction execution with minimal fees, while the Rollup Layer enhances scalability by offloading resource-intensive computations.
- Developers are drawn to Opside due to its full hardware support, zero gas fees, EVM compatibility, and custom economic models.
- Opside is highly decentralized, utilizing an improved ETH2.0 PoS consensus with over 100k validators.
- Building dApps on Opside is similar to Ethereum, without the need for additional tools or new wallets, offering higher throughput and lower fees.
- The consensus mechanism is supported by validators who verify new blocks, and miners who generate zero-knowledge proofs for transactions and receive rewards.
- Opside’s native token, IDE, plays a key role in its economic model, allocated for various purposes such as financing, community engagement, and rewarding validators and miners.
- The block reward ratio between validators and miners will be dynamically adjusted based on the demand and supply of ZKP computational power.
In summary, the Opside Network stands out as a strong contender in the ZK-RaaS market, providing scalable, efficient, and secure solutions for Web3 developers.
Opside Links:
Website: https://opsi.de/
Twitter: https://twitter.com/opsideZK
Docs: https://docs.opside.network/introduction/welcome-to-opside