What is sWAVES?

sWaves protocol allows PepeTeam users to earn a passive income and participate in the protocol's governance. sWaves protocol is based on one of the core functionality of the Waves blockchain - Waves staking. The Waves blockchain users share their WAVES with the Waves nodes to increase nodes' chances to mine a block. In return, the nodes owners share a mining reward with users, sending the reward via transfer or mass-transfer transactions. Waves stakers have to stake received reward if they want to compound their income and increase APY. Sending mining rewards by node's owners and staking received rewards by stakers requires the payment of a transaction fee. These transaction costs reduces the Waves staking profitability. The PepeTeam found a way to minimize these costs and increase the WAVES staking APY.

WAVES staking with the PepeTeam. How does it work?

The PepeTeam users can provide WAVES to the protocol’s contract and receive sWaves tokens in return. The contract stakes their WAVES to PepeTeam's own node. The reward received for mining is automatically staked to the same node, increasing the protocol's balance and, therefore, collateral of sWaves. A staker can unstake his WAVES and receive his deposit and income at any time. In short, user can exchange his sWaves tokens for Waves at the new rate.
Moreover, PepeTeam gives Waves to sWaves stakers. We have our own Neutrino community node. An income received from its mining, we add to the sWaves node to increase sWaves token collateral and sWaves staking's APY. Can you believe it?! Nooo!? Just check our Neutrino node operations by yourself.

Besides, sWAVES which were used to pay the transaction fee, will be exchanged for WAVES via sWAVES contract and part of them will be added to the sWAVES collateral.
The staking process works like this

1. An investor deposits their WAVES tokens to a smart contract;
the smart contract stakes the token and issues sWAVES tokens to the user at the current exchange rate — rate1

2. The investor begins to receive passive income.

3. The investor can cancel the staking at any time by calling the smart contract’s withdraw function. Their sWAVES will be swapped back to WAVES at rate2, which will always be algorithmically higher than rate1, as new WAVES tokens will be added to the smart contract . Thanks to the difference between the rates, the user will collect a profit.

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