🪄Welcome to Mysticswap

Permissionless OTC DEX for points, pre-market tokens and unvested positions.

The context

Mysticswap was born to give the community a safe and secure place to do OTC. Most people do OTC trading socially, meaning in Telegram groups, Discord chats, what have you. This method usually consists of sending someone your assets and then asking them to send you yours back. This "trust trading" method comes with a lot of risks, as scams become frequent and traders run the risk of not receiving their capital back.

The problem

As the space grows and evolves, OTC started gaining relevance in new markets, namely illiquid ones. Tokens before they've been listed and are thus liquid to trade, points earned in point programs, vesting allocations and much more all lack the ability to be traded peer-to-peer, which makes the need for a secondary pre-market as relevant as ever.

Points, in particular, have emerged as a clearly successful element in the web3 marketing playbook, and are often now included in new launches' marketing strategies. And so as many more projects have their own points and rewards programs, so does the need for them to be traded increase.

However, existing solutions limit the amount of tokens that can be listed depending on the volume they generate, which can be very limiting for a number of projects. In addition, the fees these protocols charge can be quite steep and don't benefit the token issuers at all, whose point/token is actually being traded!

The solution

Mysticswap is an OTC pre-market for points, tokens and unvested positions with permissionless market creation, were any project can create a pre-market for their token and monetize it.

Users create trades by listing what they're offering and what they want in return, which others can later accept. All trades are done trustlessly and via smart contracts.

Sellers will put up collateral equivalent to the asset value they're selling, which is kept in escrow until they are able to send the buyer their promised assets. If they don't send the respective assets, they lose said collateral.