OneSwap builds upon the foundation of DEX permissionless token listings and automated market making by introducing limit orders and improving user experience through its own OneSwap wallet. OneSwap, a universal one-stop on-chain trading service platform, can be deployed on any blockchain that supports smart contracts.
ONES is the ERC20 governance token issued by OneSwap on ETH. ONES has a fixed total supply of 100 million, with 50% allocated to the community through various mining methods.
ONES is a deflationary token. According to the OneSwap whitepaper, trading fees generated from swaps and trades are split into two parts: 60% directly flows to liquidity providers, and 40% is used to buy back and burn ONES. ONES will be automatically purchased and burned through buybacks.
On-chain governance for OneSwap is achieved through proposals and community voting. Users with a sufficient amount of ONES (over 1% of the total token supply) can initiate proposals, and any holder of ONES can vote for or against proposals.