Swap your tokens with Sienna Swap. While being 100% private, Sienna also provides low transaction fees due to the inherent blockchain scalability Sienna utilizes.
You can swap any private SNIP-20 token at Sienna. If you do not have private tokens yet, you can use the bridge to exchange your tokens for the private equivalent. You can always convert them back again.
This will enable you to trade through Sienna Swap.
An example of a pair is SIENNA + sDAI (secretDAI).
Sienna is a pure SNIP-20 token, and sDAI is a bridged token to its ERC20 equivalent, the DAI stable coin token.
Deposits to the pools are the foundation for Sienna Swap. By providing liquidity to a trading pair of tokens, you will help the exchange execute faster and better. In return, you earn some of the trading fees and can further enhance your earning via rewards.
You can earn 0.28% of your share of the daily volume by providing liquidity to a pair of tokens. Not only do you earn from it - you also contribute to the ecosystem and provide a tremendous amount of value to it. You can select one or multiple pairs of tokens you want to provide liquidity for and every time a swap is made, you receive your 0.28% proportionally to your share of the pool.
Example: If your proportional share of the pool is USD 1 million out of USD 100 million, you will receive 0.28% of 1% of the daily swap volume. If the swap volume is USD 200 million, you will receive USD 6,000 per 24 hours for depositing to the swap pair pool. You can, of course, deposit a much smaller amount than USD 1 million.
Siennas AMM is dual and you can deposit tokens for equal amounts in value on each side of the pair.
Reducing circulating supply
The remaining 0.02% of the total 0.3% trading fee is automatically sent to a multisig wallet controlled by Sienna and friends, which every quarter takes the tokens and buys SIENNA at market price and then sends the SIENNA to another multisig contract which has a lock for 10 years, this reducing the circulating supply. Governance will decide 10 years from now what those tokens should be utilized for.
Rewards is a part of the incentive program at the Sienna protocol. When you provide liquidity to the exchange, you will receive LP-tokens - liquidity provider tokens.
LP-tokens have two main characteristics. You can use them to reclaim your liquidity or you can deposit them and receive additional rewards.
When providing liquidity you will receive a matching set of LP-tokens for the specific pair. Not all LP-tokens are eligible for rewards. Below, we have listed the LP-tokens you will be rewarded for:
SIENNA / sSCRT
SIENNA / sETH
SIENNA / sUSDT
sWBTC / sETH
In return, you will receive SIENNA according to the daily pool. For each of the pairs, a daily amount of 500 tokens will be rewarded for each pair pool. Tokens are allocated proportionally on a daily basis. If your share of deposited LP-tokens for SIENNA/sETH is 15% you will receive 75 SIENNA per day.
A total of 3.6 million Sienna tokens will be granted as rewards over a four-year period.
The reason for this gradual minting of the 3.6 million SIENNA governance token is to fairly distribute the token to the users of the platform by using Sienna as a platform, thereby having a fully autonomous organization in the future where token holders decide over Sienna.