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WHY IS THE NAME $MUSK & MUSKSWAP?

If anyone has amassed considerable power to

move markets with a single tweet, it’s none other
than the Elon Musk. With over 55 million followers,
the celebrity CEO ‘literally’ shakes the market
every time he posts something about
cryptocurrencies on Twitter.

The Tesla and SpaceX CEO's Twitter posts have previously sent Bitcoin sky-rocketing one week
after announcing Tesla would accept the cryptocurreny as payment, only to fall staggeringly low soon
after another comment on Musk's part said Tesla would suspend those types of payments. Musk has
consistently rallied support for bitcoin and the meme currency Dogecoin and this coin’s price also
increase with a very high speed. These are just examples of the man's power.

Elon Musk is not the only billionaire supporting cryptocurrencies. His presence in this market will
entail an effect and a huge capital inflow in the future. It is also very likely that it is a technologically
superior alternative to the cryptocurrency industry. It is more beneficial for us to support Musk than to
follow the opposing public opinion against his thoughts. After all, both on a personal and a market
basis, Elon Musk's hand is not and has never been aimed at manipulating anything crypto-related,
because Musk can totally create technological things like Blockchain or whatever if he wants to
create. We should support him because this amazing man is sure to do extraordinary things, maybe
a leap, maybe the future for crypto.

With the purpose to be the token showing the

fans’ love to Elon Musk and his projects including
Tesla, SpaceX and SolarCity, etc., MUSK – a new
meme cryptocurrency has been created.

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 MUSKSWAP ECOSYSTEM
Muskswap.io is a DeFi platform built on Binance Smart Chain. Inheriting values and strengths as well
as removing the drawbacks from the other DeFi projects like Uniswap, Sushiswap, 1inch,
Pancakeswap, etc, the platform is believed to become one of the most notorious projects in the DeFi
world. As can be seen, "decentralization" is the future of cryptocurrency. It secures personal ownership
and anonymity in transactions, and contributes to make a closed ecosystem for cryptocurrencies, which
are full of shortcomings in the current platforms. With that concept, the core team creates an ecosystem
including MuskSwap, Farming & Staking with various benefits.

The protocol that MuskSwap uses is BSC (Binance Smart Chain), which is the most modern protocol
which can magically boost the speed of transactions and, at the same time, the other features are
extremely versatile. Moreover, BSC transaction cost is much cheaper than another popular protocol –
Ethereum network.

The ecosystem also includes $MUSK, $SPACEX, $TESLA,

$STARLINK, the symbols of which show the most famous super
projects of Elon Musk. Those tokens are in development & coming
soon to the community!

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 The MUSKSWAP Protocol

Introducing Smart Tokens: A Solution to the Liquidity Problem

Smart tokens are standard BEP-20 tokens which implement the MUSKSWAP
protocol, providing continuous liquidity while automatically facilitating price-discovery.
The smart token’s contract instantly processes buy and sell

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https://en.wikipedia.org/wiki/Price_discovery
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https://en.wikipedia.org/wiki/Community_currency
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orders, which drive the price-discovery process. Due to this capability, smart tokens do not need
to be traded in an exchange in order to become liquid.

A smart token holds a balance of least one other reserve token, which (currently) can
be a different smart token, any BEP-20 standard token or Ether. Smart tokens are
issued when purchased and destroyed when liquidated, therefore it is always possible
to purchase a smart token with its reserve token, as well as to liquidate a smart token to
its reserve token, at the current price.

A New Method for PriceDiscovery

A smart token utilizes a novel method for price-discovery which is based on a “Constant
Reserve Ratio” (CRR). The CRR is set by the smart token creator, for each reserve token, and
used in price calculation, along with the smart token’s current supply and reserve balance, in
the following way:

Price = Balance
Supply × CRR

This calculation ensures that a constant ratio is kept between the reserve token balance
and the smart token’s market cap, which is its supply times its price. Dividing the
market cap by the supply produces the price according to which the smart token can be
purchased and liquidated through the smart contract. The smart token’s price is
denominated in the reserve token and readjusted by the smart contract per each purchase
or liquidation, which increases or decreases the reserve balance and the smart token
supply (and thus the price) as detailed below.

When smart tokens are purchased (in any of their reserve currencies) the payment for
the purchase is added to the reserve balance, and based on the calculated price, new
smart tokens are issued to the buyer. Due to the calculation above, a purchase of a smart
token with a less than 100% CRR will cause its price to increase, since both the reserve
balance and the supply are increasing, while the latter is multiplied by a fraction.

Similarly, when smart tokens are liquidated, they are removed from the supply (destroyed),
and based on the current price, reserve tokens are transferred to the liquidator. In this
case, for a smart token with a CRR less than 100%, any liquidation will trigger a price
decrease.

This asynchronous price-discovery model works by constantly readjusting the current

price toward an equilibrium between the purchase and liquidation volumes. While in
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the classic exchange model price is determined by two matched orders in real-time, smart
token prices are calculated over-time, following every order.

The above formula calculates the current price, however, when a purchase or
liquidation is executed, the effective price is calculated as a function of the transaction size.
The calculation can be described as if every transaction is broken up into infinitely small
increments, where each increment is changing the smart token’s supply, reserve balance,
and thus its price. This ensures that purchasing the same amount of smart tokens in a single
or multiple transactions would yield the same total price. Additionally, this method ensures
that the CRR will be kept constant and the reserve can never be drained. Essentially, the
effect of the transaction size on the price (due to its changing the smart token’s supply and
reserve balance) is incorporated into the effective price for any transaction. The
mathematical functions for calculating price per transaction size are presented further in
this document.

Using this method, the MUSKSWAP protocol can enable liquidity and asynchronous price
discovery for existing standard tokens -- through smart tokens holding them in reserve,
enabling backward compatibility. This use-case and others are described in detail below.

Use-Cases for SmartTokens

The Long Tail4 of User-Generated Currencies

The long tail phenomena can be observed in many different online ecosystems such as
publishing (blogs), videos (YouTube), discussion forums (Reddit, Facebook Groups) and
more. In each of these examples, the long tail has become significantly larger in scale than
everything that preceded it. The forming of a long tail begins as soon as the barriers to its
existence are removed (e.g. YouTube making it simple for anyone to upload and share
user-generated videos).

There are many examples of user-generated currencies, such as group currencies (community
oriented currencies), loyalty points (business oriented currencies), and the most recent being
hundreds of cryptocurrencies (protocol oriented currencies). However, the need to achieve and
maintain liquidity for these small or new currencies remains a significant barrier for their viability.

Smart tokens are unique in that they can be purchased or liquidated by a single party, using
the calculated price, removing the need for two opposite wants to be simultaneously
matched. This effectively means that by using the MUSKSWAP protocol, small-scale
currencies with a low expected trade volume can offer continuous liquidity, thus, removing the
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barrier for them to be linked to the global economy.

Enabling the long tail of currencies is likely to bring about a new generation of creative
use-cases. Though it’s improbable to predict all of them, some of the more likely use-cases
are listed below.

Crowdfunding a Project
The crowdfunding space has been growing rapidly. Smart tokens can be used for
crypto crowdfunding initiatives, where the participants receive tokens which are liquid
and
market-priced. For example, a musician may collect funds to record an album, which would
be sold online exclusively in exchange for the issued tokens. A successful album would
generate high demand for the tokens, driving up their price and rewarding those holding
them. Many other examples exist such as crowdfunding a venture capital fund or raising
initial capital for a credit-creating neighborhood currency.

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https://en.wikipedia.org/wiki/Long_tail

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 Token Changers
Token changers are smart tokens that hold multiple reserve tokens, with a total CRR of
100% and can be used to exchange between any standard BEP-20 tokens they hold in
reserve. A token changer is designed to provide an exchange service between its reserve
tokens through a
two-step process of purchasing the smart token with one reserve token, and
immediately liquidating it for another.

Due to the price calculation formula, each time reserve token X is converted to reserve
token Y -- the price of X decreases, while the price of Y increases. Larger transactions will
move the price more sharply, however, a higher reserve balance would reduce price
volatility.

As noted, any standard BEP-20 token can be used as a reserve-token even if it is already
traded in other exchanges. In such a scenario, a gap may open between the calculated
price of a reserve token and its price in an outside exchange. This situation creates an
arbitrage opportunity which incentivizes arbitrageurs to restore economic equilibrium, thus
keeping the token changer prices in sync with the prices at which their reserve tokens are
traded in other exchanges.

A token changer’s creator may set a conversion fee that would apply on each
purchase/liquidation. Fees can be accumulated in the reserves and thus increase the smart
token’s price with every token conversion taking place, increasing the smart token’s value.
This increase will benefit the holders of the smart token, who may have deposited the
original reserves when the smart token was created, or purchased it with any of its reserve
token’s at any time after that.

Popular exchanges such as MtGox and Bitfinex have been hacked with hundreds of
millions of dollars worth of assets stolen from their accounts. Converting one token to
another using a token changer does not require depositing funds in an exchange and
thus removes the counterparty risk from the process. Another important benefit is that no
transaction limits need to be applied, as is the case with other instant trading solutions, due
to the decentralized nature of the token changer. While decentralized exchanges offer this
benefit as well, smart tokens do not rely on trade volume to provide liquidity.

Decentralized Token Baskets

Smart tokens can be used as decentralized token baskets, which function similarly to
ETFs or index funds, simply by holding a portfolio of reserve tokens with a total CRR of

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100%. As prices of any of the reserve tokens rise or fall, so does the value of the smart
token. Similar to token changers, here as well arbitrageurs are incentivized to realign the
conversion rates with market prices which ensures the proper ratios are kept between the
reserves according to their real-time market value. These smart tokens enable users to
directly hold asset baskets, without a financial services provider as an intermediary.

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 Network Tokens
A collection of smart tokens that use the same reserve token form a network of tokens.
The common reserve token can be described as a network token which captures the
combined value of the network of tokens which hold it in reserve. Increased demand for
any of the smart tokens in the network would increase demand for the network token,
since it is required for purchasing these tokens, and then held in their reserves. Increased
demand drives up the price of the network token, which benefits the entire network
since the value of the tokens’ reserves increases, thus to maintain the CRR, the value of
the smart tokens also increases. The network token also functions as a “token for tokens”,
rendering all the smart tokens in the network
inter-changeable.

Network tokens can be useful for those who wish to create multiple and related smart
tokens for different purposes (e.g. regional network of community currencies, a video
game studio with multiple game credits, a group of independant businesses issuing a
joint loyalty program). The network token model creates synergetic relationships
between the member smart tokens, comparable to the way any single successful
Ethereum service can drive up the value of Ether, benefiting all of its holders.

An additional network token use-case is to interlink a set of token changers, each

holding a reserve in the network token and a second reserve in another, standard token.
This structure would enable exchanging any token in the network to another, while
increasing the demand for the network token whenever a new token changer is created
or appreciates.

Advantages of Smart Tokens

Smart tokens introduce multiple advantages over the traditional exchange model:

1. Continuous Liquidity - Since purchasing and liquidating is done through the

smart contract, smart tokens are always liquid, irrespective of their trading
volume.
2. No Extra Fees - The only mandatory fees applied by a smart token are the
blockchain platform fees (gas) which are relatively low.
3. No Spread - Since the price calculation is done algorithmically by the smart
token, the same price applies for purchasing and liquidating the smart tokens.
4. Predictable Price Slippage - Smart tokens allow pre-calculation of the precise
price slippage, based on the transaction size, before it is executed.
5. Lower Volatility - A smart token with a 10% CRR (for example) is comparable to

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an exchange with 10% of the entire supply of a token in its order-book at all times,
forming substantial market depth. In a typical crypto-exchange, the share of the
supply in the market depth at any given moment is well below 1%. The higher the
CRR, the lower the smart token’s price volatility. The lower the CRR, the more “new
credit” is created relative to the original reserve amount.

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The MUSKSWAP Protocol Ecosystem

 Decentralized exchange

Linear Liquidity Pool

Buy from pool Provide funds
Pricing parameters
[Buy-sell spread]

Traders Sell to pool Receive LP tokens Liquidity

Providers

Fetch latest
prices

Underflying
feed

MUSKSWAP uses an automated market maker (AMM) model. That means that while you can
trade digital assets on the platform, there isn’t an order book where you’re matched with
someone else.

Instead, you trade against a liquidity pool. Those pools are filled with other users’ funds. They
deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use
those tokens to reclaim their share, plus a portion of the trading fees.

 Farming/staking
To farm MUSK, you need to first add liquidity to the exchange and get LP tokens.
Then, you stake LP tokens & earn MUSK and you can swap MUSK to other cryptocurrencies or
hold to earn compound interest. 25% of the farmed tokens will be paid instantly, while the
remaining 75% will be locked for 1 year.

 Lottery
Lottery function is like a minigame per day, and how to join is very simple. You can use MUSK
to buy 4 numbers, and you will get prizes if you have 2,3 or 4 numbers matching with the
results.

 Lending & Borrowing

The investors and lenders issue a loan or deposit fiat for an interest through a distributed
system and a decentralized application. On the other hand, an individual or business borrows

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money for interest. Both lending and borrowing make use of Smart contracts.
This function will be developed in the future.

Price Calculation PerTransaction

The actual price of a smart token is calculated as a function of the transaction size.

R - Reserve Token
Balance S - Smart Token
Supply
F - Constant Reserve Ratio (CRR)

● T = Smart tokens received in exchange for E (reserve tokens), given R, S and F

F
T = S((1 + E ) R − 1)

● E = Reserve tokens received in exchange for T (smart tokens), given R, S and F

E = R(1
F
− 1 − TS)
√

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MUSKSWAP Network Token (MUSK)
Total supply: 1,000,000,000,000,000 MUSK
Lock until end of Token sale (31 Dec, 2021)

MUSK Crowdsale
PRE-SALE 1:
 01 Aug 2021 – 31 Aug 2021
 Amount: 50,000,000,000,000 MUSK
 Unit Price: $0.000000025
 Soft cap: 15,000 billion MUSK
 Hard cap: 35,000 billion MUSK
ROUND 1:
 01 Sep 2021 – 30 Sep 2021
 Amount: 50,000,000,000,000 MUSK
 Unit Price: $0.000000035
 Soft cap: 15,000 billion MUSK
 Hard cap: 35,000 billion MUSK
ROUND 2:
 01 Oct 2021 – 31 Oct 2021
 Amount: 50,000,000,000,000 MUSK
 Unit Price: $0.000000045
 Soft cap: 15,000 billion MUSK
 Hard cap: 35,000 billion MUSK
ROUND 3:
 01 Nov 2021 – 30 Nov 2021
 Amount: 50,000,000,000,000 MUSK
 Unit Price: $0.000000055
 Soft cap: 15,000 billion MUSK
 Hard cap: 35,000 billion MUSK
ROUND 4:
 01 Dec 2021 – 31 Dec 2021
 Amount: 50,000,000,000,000 MUSK
 Unit Price: $0.000000065
 Soft cap: 15,000 billion MUSK
 Hard cap: 35,000 billion MUSK

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 TOKEN DISTRIBUTION

Token sale: 25% Marketing & Affiliate: 3%

Team: 5% Mining: 65%
Reserve: 2%

SALE FUND ALLOCATION

Liquidity Pool 55% Development 15% Marketing 10%

Listing & Legal 15% Team 5%

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 MUSK AIRDROP

Airdrop: 10,000,000,000,000 MUSK ($1,000,000)

Value: 100,000,000 MUSK ($10)
End Date: end of Token sale
Distribution Date: end of Token sale

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 ROADMAP
Q3, 2021
• Building core team & platform infrastructure
• Official launch of MUSKSWAP protocol & MUSK token
• Develop liquidity pools, swap functions & Farming program
• Listing on Pancakeswap
• Airdrop program
• Launch new tokens $TESLA, $SPACEX, $STARLINK

Q4, 2021
• Listing MUSK token on coinmarketcap, coingeko
• Muskswap auto farm optimized
• MUSKSWAP Derivative Trading platform

Q1, 2022
• Top CEX listing
• Develop Lend and borrow MUSK and LP tokens
• Develop leverage on-chain for staking, lending & borrowing
• DAO Governance

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 SUMMARY
The MUSKSWAP protocol standardizes smart tokens, enabling asynchronous price
discovery and continuous liquidity for cryptocurrencies using constant ratios of reserve
tokens held through smart contracts, acting as automated market makers. The MUSKSWAP
protocol enables the creation of hierarchical monetary systems with no liquidity risk. The
MUSK will be used to establish the first decentralized interconnected currency exchange
system which does not rely on matching bid and ask orders, thus remaining liquid
irrespective of its trading volume. This system proposes the first technological solution for
the Coincidence of Wants Problem in asset exchange, enabling the long tail of user-
generated currencies to emerge.
By the way, the system as well as the token is aimed to express the admiration to the top
billionaire Elon Musk. Joining MuskSwap community, the members have the place to
share their thoughts and update the latest actions of this billionaire, as well as use many
great functions of MuskSwap.

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