LavaSwap

LavaSwap (LAVA) is an interoperable decentralized platform powered by Huobi ECO Chain (HECO). HECO is a decentralized and cost-efficient public chain that Ethereum developers can easily get started with, and with which smart contracts are seamlessly compatible. According to the whitepaper, the LavaSwap network is a cross-chain swap protocol that believes that DeFi should be fun and easy to use for everybody. The LavaSwap network aims to solve the problem that the traditional finance model (bank, loans, mortgage, etc.) faces by creating a DeFi platform using blockchain technology and eliminating costly intermediaries, making every process faster, simpler, and more accessible. The core benefit of this DeFi platform is its easy access to financial services, especially for those who are isolated from the existing financial system.

LAVA is the native token of the LavaSwap network. The total supply of the LAVA token is 100 million LAVA. There is no pre-sale and no VC (Venture Capital) allocation; there is open access for everyone. Out of the total supply, 70% went to mining and staking, 10% distributed to the long-term LAVA token holders (DAO), 10% to marketing and ecosystem building, and 10% to team members and future employees (DAO). Furthermore, the LAVA holders can utilize their tokens to vote on the governance suggestions about changes and upgrades to the protocol.