Payship is a fully decentralized platform hosting a suite of crypto synthetic trading dApps: SWAPS, PERPS, LOANS and FARMS. All dApps are secured by Chainlink price feed oracles and integrated with each other through a common means of exchange, the VSDC stable denominator backed by real ETH and always priced at one US dollar.
Operating since 2020 as an ecosystem of smart contracts and communities, Payship integrated in 2023 under one brand and deployed on the Ethereum Mainnet and Coinbase Base.
1. GET VSDC to join for fun & profit. You need VSDC to use the Payship platform. You have two ways to obtain VSDC: one is to mint VSDC on Payship.org; second is to buy VSDC on Uniswap.
2. SWAP SYNTHS to tarde safely. Use VSDC to trade many synthetic assets without slippage, frontrunning bots and other troubles. Plus, on every trade you make you earn 0.1% cashback in XPSHP!
3. BET ON PERPS to play leverage. Use VSDC to open short or long positions on many assets. Payship PERPS are still a work in progress and will be launching soon with ETH as the first asset.
4. ADD LIQUIDITY to start farming. Support Payship platform and add VSDC+ETH liquidity to Uniswap. Use your UniswapV2 Liquidity Pool (LP) tokens to farm XPSHP in Payship FARMS.
5. FARM XPSHP to earn rewards. Deposit VSDC, VSDC+ETH UniV2 LP or XPSHP+ETH UniV2 LP to farm XPSHP at high APR! Join Payship Farms now
6. LOAN VSDC to farm more. Selected Payship FARMS deposits work as collateral for VSDC credit line available on Payship LOANS. Still a work in progress, Payship LOANS will be launching soon with XPSHP+ETH UniV2 LP as the first collateral asset with which you can open a fixed-interest non-liquidable VSDC credit line at 50% LTV, 2% opening fee and 4% yearly interest.
7. LOCK XPSHP to earn fees. Lock your XPSHP for a minimum of four months to receive 50% of all fees generated on the Payship platform. When locked XPSHP cannot be transferred, but you can still farm XPSHP on Payship FARMS and increase your stack to get an even bigger share of the platform fees.
Payship VSDC stable denominator is at the core of the Payship platform. VSDC is backed by real ETH and is always priced at one US dollar while used within the Payship dApps. VSDC has a simple and efficient smart contract code based on the wildly popular WETH token. It ties Payship together.
You can mint VSDC using ETH, and redeem VSDC for ETH. Redemptions have a flash attack limit where up to maximum of 25% of ETH deposited in the mint contract can be exchanged back from VSDC in a single transaction and block. Both mint and redeem have a -0.4% fee denominated in VSDC thus maximizing gateway ETH, and a +0.1% bonus XP (XPSHP). Fees can be changed by the governance, once it is formed by the XPSHP holders.
The VSDC fees are also used as the reward distributed among locked XPSHP. Refer to the REWARDS section for more details.
Payship SWAPS decentralized exchange (DEX) for synthetic assets allows you to swap hundreds of tokens on chains like Ethereum Mainnet and Coinbase Base (coming soon to Arbitrum and Optimism too). Using Chainlink price feed oracles Payship DEX offers accurate prices, zero price impact during swaps, is immune to flash loan attacks, has no slippage, no bots, low fees and low gas costs. Your Payship SWAPS volume counts towards your Payship FARMS rewards!
To start using Payship SWAPS you first need VSDC tokens in your wallet. You can mint VSDC using ETH. All synthetic assets are priced in US dollars and can be swapped to and from VSDC, or with each other directly.
The tokens available for swapping are determined by the Chainlink price feed oracles available on the given chain, for example Base Mainnet. Each swap has a -0.4% fee and a +0.1% bonus XP (XPSHP).
The price of the swap is determined on-chain by the Chainlink price feed oracle at the moment of transaction execution. Contrary to AMM pools like Uniswap, there is no slippage, no frontrunning bots and no MEV. The price cannot be affected by swaps, only by the market data provided by the Chainlink price feed oracles. Therefore, Payship SWAPS can fulfill any order size, essentially implying infinite liquidity.
Payship LOANS decentralized lending and borrowing allows you to deposit and borrow many tokens on chains like Ethereum Mainnet and Coinbase Base (coming soon to Arbitrum and Optimism too). Based on the Payship SWAPS technology, and using Chainlink price feed oracles, Payship LOANS are immune to flash loan attacks. Unlike other lending dApps, Payship LOANS offer a stable interest rate system and fixed-interest loans.
Moreover, a special basket of super-tokens, like PSHP, offer low-interest, no-liquidation VSDC loans. In turn, VSDC can be used across many Payship dApps, while your Payship LOANS assets accumulate rewards with Payship FARMS! These no-liquidation loans are best described as credit lines. The fixed interest on the credit line is 4% APR, plus a 2% fee to open the credit line. Therefore, the total first year interest is 6%, while any consecutive year it remains at 4%.
Payship PERPS decentralized Crypto Contracts for Difference (CCFD) allow you to take part in the market movements without owning the underlying assets. With CCFDs you can bet on the direction the asset price takes and in case you are correct, reap the benefits—with leverage! At the same time, your losses are strictly limited to the deposited collateral you make your bets with.
Based on Payship SWAPS technology, incorporating Chainlink price feed oracles and our experience from the LIQLO betting that paid out more than 100 ETH in winnings during its run in 2020-2021, Payship PERPS offer new and fun ways to experience crypto.
Payship FARMS decentralized staking for rewards and governance allows you to reap even more benefits just by using Payship dApps and staking selected tokens and LPs. Your activity is rewarded with Payship XP (XPSHP) that in turn allows you to rank up the chart, take part in the rewards distributions and interest rate governance votes.
You can accumulate XPSHP by using SWAPS and PERPS. You operational volume generates XPSHP at a rate of 1/100. You can farm XPSHP by depositing selected assets to FARMS and earn at 100% APR.
You can trigger a LOCK on your XPSHP, and participate in the distribution of fees accumulated among all Payship dApps. 50% of all fees go to locked XPSHP.
Additionally, you can bring referred users to Payship dApps and earn 25% of all fees generated by your referrals.
Once Payship is fully decentralized, XPSHP will be used to vote on interest rates applied on the platform. This inlcudes transation fees, credit rates etc.
Payship treats privacy & safety of its team and its customers very seriously.
To maintain customer privacy, this service does not collect user data, logs or IPs. To maintain team security, this platform is anonymous.
To ensure platform safety we take all available efforts on our part to deploy safe and secure smart contract code, maintain security of our dApps and infrastructure. However, no software is guaranteed to be free from bugs and vulnerabilities. Therefore exert caution when using the Payship platform and acknowledge you are aware of all risks when using Payship smart contracts and dApps.
This web page is an instance of the open source interface to the Payship platform smart contracts. You too can publish this interface using nothing more than a static hosting web server.
Go to Payship Frontend GitHub repository to learn more.