Today marks the start of a very long journey and the foundation for a new DeFi ecosystem. Our community has been patiently awaiting this moment and we are thankful for the support. The good news is that RenaSwap is ready and so is our documentation. For a deeper understanding of any of the concepts described here, please see our extensive Gitbook documentation.
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The introduction of Iteration’s native token ITS comes as an experimental concept coin that will later integrate with Renascent’s volume creation product.
We intend to use this release as a way to test one of Renascent’s core concepts in prod. Iteration’s token will have minimal functions, however these functions will be key within Renascent’s future ecosystem, allowing for many innovative and unique Volume Creation techniques.
Iteration’s KEY mechanic ensures that it’s uniswap price is constantly changing in value. This is done by temporarily removing a portion of liquidity from the ITS/ETH pair, market buying ITS with the ETH, then burning…