Token Usage

HiveSwap Token (HIVP) is a native utility and governance token for HiveSwap, a decentralised exchange (DEX) in the Bitcoin ecosystem, utilizing the interoperable Bitcoin layer MAP Protocol to provide liquidity services for assets in the Bitcoin ecosystem, including assets on Bitcoin L1, the MAP Protocol interoperability layer, and various Bitcoin L2s.

It has multiple uses in the HiveSwap ecosystem.

  1. Liquidity Incentive : Users can earn rewards by depositing and locking Liquidity Provider (LP) tokens in the Liquidity Pool. The LP token rewards earned can be farmed on the platform, allowing users to accumulate HIVP.

  2. Governance: Users holding HIVP tokens can participate in the governance of HiveSwap. As a community governance-driven DEX, users can vote on community-initiated proposals, with voting power proportional to the number of HIVP tokens held by the user.

  3. Swap Rewards: HIVP can be used for Swap Rewards.

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