⚙️Stableswap

Restaking enables staked ETH to be used as cryptoeconomic security for protocols other than Ethereum, in exchange for protocol fees and rewards. The dINJ, hINJ, gINJ collected will be used to power up a Stableswap operated by ninja garden.

StableSwap on Ninja Garden is a feature to trade stable pairs with a lower slippage based on an invariant curve slippage function. It is designed to swap specific assets that are priced closely – such as USD stablecoins (e.g. USDC and USDT) or liquid staking tokens (e.g. dINJ and hINJ). As a result, users can expect lower trading fees compared to the normal Dexes.

Our StableSwap is an implementation of DojoSwap’s AMM on Ninja Garden. It adds linear invariant constant sum curve (x+y=k) on top of the constant product formula (x*y=k) to keep prices more equal as long as the liquidity pool is not extremely unbalanced. As a result, since StableSwaps are restricted to similarly priced assets, impermanent loss is not as much of a concern (except in extreme unforeseen depeg cases) and the slippage is lower than normal AMM which only uses the constant product formula.

The fee attribution is broken down as follows:

• 50% to Liquidity Pool for restakers as rewards

• 40% to token buyback and burn

• 10% to the ninja Garden Treasury