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CroSwap DEX Launches With Strong Volume in First Days
September 30, 2022
MINS
CroSwap DEX, the main product in a new DeFi suite for Cronos, launched on Sept. 26 with good volume for a new DEX in a bear market.
New DEX on Cronos Chain
CroSwap DEX, the backbone of a new DeFi suite for Cronos, launched on Sept. 26 and is seeing strong volume for a new Decentralized Exchange (DEX) in a bear market.
Trading volume over the first 24 hours reached over $100,000, which is comparable to many other DEXes that have been around much longer. Total volume sits at $205,000 as of Sept. 29.
SwapV, CroSwap’s Head of Development, said the team has a lot more planned for the CroSwap ecosystem, with a two-year roadmap that aims to make CroSwap stand out from other DEXes.
“Our DEX is already unique since our code was written by our team, it’s not just a regular fork,” he said. “All of our products are utilizing EIP-2535 and are very transparent. We also integrate unique products such as achievements, education, a migration tool, contract/audit services, bridges, and games. We are not going to stop until we create the perfect one-stop-shop DeFi environment for the Cronos network.”
SwapV went on to say that incentivizing users to increase Total Value Locked (TVL) in their network is a key goal of the DEX and its ongoing development.
“We want to try to get as much TVL as possible on the exchange and continue to introduce new additions into the ecosystem that allow that to happen,” he said. “The larger liquidity that we can raise - the better off we are when the market turns around and the more stable our environment will be for our community.”
To begin, CroSwap will incentivize users to lock their tokens within the CroSwap ecosystem through Liquidity Pools and Yield Farms. Both services will allow users to stake their tokens to receive rewards based on the amount they stake relative to other users.
Liquidity Pools launched on Sept. 29 while Yield Farms are set to launch in the coming days. This will be followed by “Harbors” later on, which will allow users to easily implement different yield farming strategies.
CroSwap DEX has over 300k of trading volume in the last 24hrs!! Let's CRO!
— CroSwap DEX (@CroSwapOfficial) September 30, 2022
❤️ & 🔄 https://t.co/TqMolLHGRM#CRO #crofam #Cronos #CroNavy #CroSwap pic.twitter.com/yVuOyOtzSz
What Is CroSwap:
CroSwap is in the process of launching a suite of Decentralized Finance (DeFi) services for the Cronos Network, including the CroSwap DEX, an NFT staking platform, and DeFi educational tutorials.
Where to find CroSwap:
Website | Twitter | Discord | Medium
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Related News
Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options
October 2, 2023
This marks the first-ever ETFs based on ether futures, following the introduction of the first bitcoin futures ETF two years ago.
Summary
- A range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched.
- These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
In a significant development for the crypto industry, a range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched. These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
Renowned for launching the first U.S. bitcoin futures ETF, ProShares leads the charge with the launch of the ProShares Ether Strategy ETF, along with two additional offerings that provide a blend of exposure to both bitcoin and ether. ProShares’ CEO, Michael L. Sapir, expressed optimism about the appeal of these crypto-linked ETFs to investors, stating, "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs."
Bitwise also joined the fray with two ether futures ETFs: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.
VanEck, a prominent asset manager, has also entered the arena with the VanEck Ethereum Strategy ETF. This ETF is designed to target capital appreciation by investing in ether futures contracts, providing investors with an alternative path to participate in the robust futures market centered around Ethereum.
Additionally, the VanEck Ethereum Strategy ETF has also entered the market, “designed to seek capital appreciation” through ether futures contracts. As highlighted by Kyle DaCruz, Director of Digital Asset Product at VanEck, these offerings provide a means for investors to tap into the robust futures market surrounding Ethereum.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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