By The Community, For The Community

  PartySwap is an application focused on bringing liquidity to the Avalanche ecosystem launching in September 2021. It will initiate with an automated market maker (AMM), the underlying protocol that powers decentralized exchanges (DEXs), launching on the Avalanche network. This AMM will support various projects on the Avalanche network, listing them as token pairs in PartySwap pools. Users will be able to stake their liquidity provider (LP) tokens or single assets in these pools in order to earn $PARTY tokens as a reward. These LP token pools will be known as Piñatas, and single asset staking pools will be called Jacuzzis.

 
PartySwap will also be a platform for users to purchase collectible NFT’s with $PARTY, where the $PARTY used in these purchases will be burned, permanently decreasing the supply of $PARTY tokens. NFT’s will be released in themed seasons, and users who collect all NFT’s of a particular season will have access to special rewards.  

The maximum supply of $PARTY is capped at 110,000,000 tokens. The first token unlock for the PartySwap team will occur a few days after release, and will be for 1,833,333.33 $PARTY. These unlocks cover the wages and living expenses of the PartySwap team. Subsequent unlocks of 1,833,333.33 $PARTY will occur at two-month intervals and will represent 10% of the total supply, or 11,000,000 $PARTY tokens.
 

As development continues, applications will be launched that increase the utility of the $PARTY token, including play-to-earn games where $PARTY can be used to play, to bet on the outcomes of games, or earned as rewards for playing.

  
$PARTY will also be used for PartySwap governance, where users who hold $PARTY will be allowed to vote on such things as listed tokens, changes to Piñatas and Jacuzzis, and other modifying attributes. Under this system, a percentage of treasury tokens will be allocated for usage as determined by the community.

 
PartySwap also plans to implement a decentralized autonomous organization (DAO) and a subnet in the Avalanche network, bringing a more decentralized approach to both the decision-making process and development possibilities of PartySwap. Launch of the DAO and subnet is planned for late Q4 2021 or early Q1 2022