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Sushiswap is an AMM DEX on the Etherum network that plans to bridge its latest BentoBox feature to the Binance Smart Chain. PancakeSwap has anticipated the team’s launch and is now providing BEP-20 SUSHI holders with CAKE liquidity incentives. These features are fascinating as more protocols begin bridge to the BSC, and we begin to see more nuanced liquidity pairs. The SUSHI liquidity pools on PancakeSwap are a huge positive to the entire De-Fi community which this article outlines. On top of this, SushiSwap's soon-to-launch BentoBox lending protocol will soon be available on the BSC providing further cross-chain interoperability. It is important to note that this is not a partnership between the two, solely incentivized liquidity subsidized by PancakeSwap(PCS) in anticipation of the BentoBox lending release.
AMM's introduced liquidity pools as a substitution to traditional order books used by centralized exchanges. Order books serve as a peer-to-peer marketplace facilitated through a centralized entity allowing users to trade cryptocurrency pairs. In the case of liquidity pools, no order book is needed as the technology relies on a market-making algorithm and game theory to maintain accurate prices. Typically liquidity providers on these platforms receive additional incentives for making the market.
The PancakeSwap team has incentivized BEP-20 SUSHI liquidity allowing users to earn amazing APY's (Annual Percentage Yields) through providing liquidity or staking SUSHI. Currently, users who provide liquidity to the SUSHI/ETH pool will earn 160% APY.
For those who are unfamiliar with AMM’s, and yield farming check out the following articles:
Cryptonomics: Automated Market Makers
Cryptonomics: Yield Farming Explained
Last week a poll was conducted regarding a new token to be added into the Syrup pools. As SUSHI obtained the highest number of votes a syrup pool has been rectified. This syrup pool is different from the regular staking. Usually, you stake CAKE, but PCS has subsidized the pool allowing users to earn CAKE from staking SUSHI. As these liquidity incentives are limited, the team has capped the syrup pool to fifty SUSHI per wallet.
Here is the sushi BSC contract address https://www.bscscan.com/token/0x947950bcc74888a40ffa2593c5798f11fc9124c4
Aside from the fact that the community voted for these liquidity incentives, PCS can benefit from the added SUSHI liquidity. These farming rewards allow Ethereum based users to easily migrate their SUSHI LP's to the BSC to earn potentially higher yields alongside lower transaction fees. In return, this bootstraps more users and liquidity to PCS, ultimately helping the protocol. It is also important to note that PCS is rooting itself as one of the leaders in ETH bridged liquidity on the BSC. They have done this by providing pools such as COMP/ETH and SUSHI/ETH, with many more on the way. Overall this further strengthens PCS's role in the BSC ecosystem as they continue to maintain the best liquidity for most BEP-20 token pairs.
Bentobox is a lending platform similar to Venus, Crean, and Aave. BentoBox innovates further in attempts to cut out significant limitations faced by crypto lenders:
Pancakeswap is the largest AMM on the BSC, and they continue to innovate rapidly. Their latest release features SUSHI/ETH liquidity pools that allow users to receive ETH-based De-Fi exposure while utilizing the BSC's low transaction fees. To further incentivize the liquidity, the team at PancakeSwap has created both a syrup and farming pool allowing users to earn generous yields. Overall seeing more cross-chain interoperability between the BCS and ETH is great for De-Fi as a whole. Further interoperability is on the way, reducing ETH network congestion while simultaneously allowing users to access ETH-based De-Fi with nominal fees on the BSC. I am beyond excited for the launch of Bento Box and the many other ETH-based projects soon to be supported on the BSC.
For those who wish to check out PancakeSwap and SushiSwap check out their social media and websites below:
Andrew (BSC.News)
Hello everyone and welcome to the AMA with CoinSwap!
Today we have @coinswapbull joining us today to talk about their exciting platform!
Great to have you here
CoinSwap Bull
It's wonderful to be here, it's an honor to join your great community and tell your community about CoinSwap and what our team is building! Thanks for having us!
Andrew (BSC.News)
Yeah it's wonderful to have you here!
So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway
Sound good with you?
CoinSwap Bull
Sounds excellent, I'm really looking forward to this! Let's go ahead and begin!
Andrew (BSC.News)
Awesome so let's get started!
1. Please introduce yourself and the team behind CoinSwap
CoinSwap Bull
I’ve been in the bitcoin and blockchain space since 2009. I’ve written two blockchain books, written for countless projects and advised many others.
I joined CoinSwap’s team right before launch because I believe in their goal to become the world’s most innovative DEX and provide all people with decentralized financial inclusivity.
Since joining the team I can already sense that we’ve a great opportunity to achieve this goal and to become number 1 amongst all DEXs.
Andrew (BSC.News)
Oh wow 2009?
So you were here since the beginning
CoinSwap Bull
Yes sir, I've seen everything in this space and I love to see real developers at CoinSwap building the protocols I've been waiting many years to see built.
It's a pleasure to watch!
Andrew (BSC.News)
That's amazing, and for you to join a project like CoinSwap must mean more than just one more team member
So let's talk about the project itself and why you joined it
CoinSwap Bull
Absolutely, let's get into that now!
2. What is CoinSwap? What does it mean to be a decentralized cloud trading protocol?
CoinSwap Bull
Let me first give you an overview of our launch and upcoming events and that will lead me into more about DeCloud and or functions.
Launch Time: CoinSwap.com officially launched on BSC on Sep 13th.
Mining Launch Time: CoinSwap.com will officially launch mining function on Oct 20th.
Vision
Not only an AMM-based DEX, but also an ecosystem.
CoinSwap.com is committed to building a decentralized financial ecosystem integrating DEX, Cloud, NFT, DAO, GameFi, etc.
Functions:
Advanced Trade: Users can trade by observing real-time K-line and liquidity pools.
Liquidity Migration: CoinSwap.com provides this function of one-click “Liquidity Migration” that can easily allow users to migrate the liquidity previously provided on DEX.
Node NFT: Each node will become the unique NFT system of CoinSwap.com to support free transfer.
Financial Derivatives: As the trading volume and liquidity of CoinSwap.com continue to increase, we will gradually enrich the structure of various products.
Assets: You can check your wallet balance on CoinSwap.com directly.
Deductible Fees: Coins can be used to deduct 50% trading fees. The trading fee can be as low as 0.15%.
Market Data: Query Token market data anytime, anywhere.
DAO Governance: Users who hold COINS can initiate and vote on the system. Related proposals include block rewards, halving cycles, new token launches and adjustments to liquidity weights of trading pairs, etc.
Andrew (BSC.News)
Yeah so while CoinSwap is very innovative no doubt, I want to expand on it and analyze why CoinSwap is necessary
3. What inherent problems have you seen within BSC that CoinSwap can provide solutions for?
CoinSwap Bull
CoinSwap is a large supporter of Binance and Binance Smart Chain and believes in their vision to provide a chain for users with high transaction throughput.
This allows DeFi protocols like ours at CoinSwap to flourish and continue to take more market share over time from the ‘legacy’ DEXs like Uniswap or Pancakeswap that haven’t really innovated over the last year and CEXs as well once users become more comfortable in the crypto sector.
Through our referrals, NFT and Supernode NFT, users can create their own ecosystem to trade with even cheaper fees than any other DEX already running on BSC.
Our users are already giving us excellent feedback on the protocols and really appreciate us pushing the space forward with our new functionality!
Andrew (BSC.News)
Okay nice!
So my next question is
4. How does being a “DeCloud” differ from other trading protocols?
CoinSwap Bull
Other DeFi protocols aren’t as distributed as CoinSwap because CoinSwap is the first DeCloud computing protocol in the history of DeFi.
DeCloud enables every supernode to be a DEX and this may be the most revolutionary advancement in NFTs in blockchain history yet.
DeCloud gives our users even more decentralization than the normal DEX and way more decentralization than any CEX as well. This is the future of DeFi because users will increasingly want to have a decentralized cloud just like they want decentralized blockchains.
Supernode NFT empowers the users to have more control of their finances and that’s the endgame of blockchain and DeFi.
Andrew (BSC.News)
Wow that's amazing!
5. How do you use/get started on CoinSwap?
CoinSwap Bull
Our team made a full tutorial on how to get started on CoinSwap.com in this youtube video.
There are other specific tutorials and overviews on our youtube channel for users and there will be more youtube videos in the future when we launch even more functions, so make sure you’re subscribed for all news, product launches, and giveaways!
Andrew (BSC.News)
Yeah I'm watching the video and it's very solid learner material
Even teaching users how to download and set up the BSC RPC for those who may not know
CoinSwap Bull
Thank you, sir, I appreciate it!
💪
Andrew (BSC.News)
Nice guys
CoinSwap Bull
CoinSwap's team wants everyone to have access to these services, we have to make it easy to understand, thanks!
6. What is your vision for CoinSwap? Can you provide us with a roadmap?
CoinSwap Bull
The overall vision is to become the #1 DEX in the entire world! Our team is focused on the small day to day goals which will lead to us becoming number #1 eventually.
The small victories will lead us to even greater things and our community is continuing to grow on every continent daily!
CoinSwap is launching mining today! This is a huge event in our roadmap and brings all of our functions and utility to the LIVE stage of our platform.
Of course we will keep innovating but this is a major day for CoinSwap and we’re very proud of our team and our community!
Andrew (BSC.News)
What a great mindset to have
And congrats! That is a huge step
So while we are on the topic of mining
CoinSwap Bull
We appreciate it, we're very excited!
7. What is $COINS? How is it used for your platform?
CoinSwap Bull
COINS Use Case:
1. COINS used to pay for fees will not participate in rebates but will be directly burned.
2. Deductible Fees. COINS can be used to pay for fees. The discount rate is shown in the table below.
3. The creation of the supernode NFT needs to burn COINS.
4. If the project party's tokens participate in liquidity mining, the project party will provide the tokens and host the user's single staked COINS to mine the project party's tokens.
5. COINS can participate in the new functions of the platform such as NFT and IFO.
6. The COINS value can be provided in subsequent contracts and lending products.
Andrew (BSC.News)
Okay nice, so this is for sure not a project that created a token just because
Definitely resonates with the idea of an ecosystem that you guys are building towards
CoinSwap Bull
Absolutely not, CoinSwap's token has a real use case as you can tell, a token for the future of DeFi!
Thanks
8. Is your platform audited? How can you ensure users that your platform is safe to use?
CoinSwap Bull
This is one of the most important questions when evaluating any crypto protocol, let me explain.
CoinSwap.com underwent a full audit by CertiK. CertiK is the leading security agency in the blockchain space that makes sure all users are safe when using DeFi products.
You can read the full audit of our protocol done by CertiK here:
Andrew (BSC.News)
Yeah without a doubt!
All smart contracts carry a risk when interacting so I'm glad you guys understand the severity of potential risks and are taking the steps to mitigate those risks
Last but not least
9. Any exciting news you would like to announce today?
CoinSwap Bull
🗣 CoinSwap.com Genesis Mining will start today, are you guys ready?
No Private sale, No ICO, No Pre-mining!
Be the first one to have COINS4
CoinSwap #YieldFarming : October 20th 12:00 (UTC)
CoinSwap Bull
Absolutely but please make sure you use this link when you head over to the site!
That way we know you're a part of the BSC NEWS family!
🗣OFFICIAL LINKS:
Telegram Announcement:
Andrew (BSC.News)
Awesome! Thank you so much
CoinSwap Bull
You're welcome, sir!
Dragonary is always looking for ways to enhance its Non-fungible token (NFT) GameFi protocol. As a result, the game has released an update, showcasing the upcoming exciting projects and features.
The latest update shows that the GameFi protocol wants to strengthen the bond between players. Dragonary intends to focus on making its game more social and creative. The Binance Smart Chain (BSC) Play-to-Earn (P2E) protocol made its intentions clear on Twitter and Medium.
“You’ve been asking for it, so we deliver,” tweeted Dragonary on 19th October. “It’s been eleven weeks we’ve worked hard to strengthen bonds with all of you.”
The update, termed “What are we building?” features numerous exciting integrations. According to Dragonary’s blog, users can expect new additions focused on improving players' interaction. Some of the features include the Friends tab, Dungeons, Magical powers, Player vs. Player (PVP), and many more.
The Dragonary article talks about its plans to create a friendly environment for users. This means that users would get to add and interact with their friends while they play the game. This feature, known as the Friends Tab, spearheads the other top-notch integrations by the GameFi project.
“Right now, Dragonary’s focus and priority has become making the game more social and interactive. As of right now, we are working on implementing the Friends tab, so you can add other players to your friends list and check their dragons, account rarity and much more later on too!” The post read on 19th October.
Since its inception in July 2021, the Dragonary game has expanded across the GameFi industry. The Free-to-Play P2E game is now available on PC, laptop, MAC, or any Android and iOS mobile device. In light of this, the protocol released the update to clarify its growing community on what projects its diligent team is building.
“We are aware that our community wants to know how everything is going. That’s why we bring you “what are we building?”, an article where you’ll find every project our team is working on,” the protocol wrote on Twitter.
Read Dragonary’s article to learn more about its upcoming project.
Dragonary is a Free-to-Play P2E NFT game built for anyone with little or no knowledge of blockchain or cryptocurrency. The game ensures that users profit from every minute spent on the platform. Therefore, everyone is rewarded for participating in the game.
The Dragonary ecosystem features unique NFT dragons with zero transaction fees. With its $CYT token, the game is built on BSC, ensuring fast, lightweight, and secure transactions. Being a free game, users can enjoy all of Dragonary’s content without paying. However, users who enjoy the game can explore its NFT marketplace to purchase better dragons, items or power-ups, and enjoy an exciting NFT GameFi experience.
Where to find more about Dragonary:
The SUSHI liquidity pools on PancakeSwap are a huge positive to the entire De-Fi community, promoting interoperability and easy De-Fi access.
Sushiswap is an AMM DEX on the Etherum network that plans to bridge its latest BentoBox feature to the Binance Smart Chain. PancakeSwap has anticipated the team’s launch and is now providing BEP-20 SUSHI holders with CAKE liquidity incentives. These features are fascinating as more protocols begin bridge to the BSC, and we begin to see more nuanced liquidity pairs. The SUSHI liquidity pools on PancakeSwap are a huge positive to the entire De-Fi community which this article outlines. On top of this, SushiSwap's soon-to-launch BentoBox lending protocol will soon be available on the BSC providing further cross-chain interoperability. It is important to note that this is not a partnership between the two, solely incentivized liquidity subsidized by PancakeSwap(PCS) in anticipation of the BentoBox lending release.
AMM's introduced liquidity pools as a substitution to traditional order books used by centralized exchanges. Order books serve as a peer-to-peer marketplace facilitated through a centralized entity allowing users to trade cryptocurrency pairs. In the case of liquidity pools, no order book is needed as the technology relies on a market-making algorithm and game theory to maintain accurate prices. Typically liquidity providers on these platforms receive additional incentives for making the market.
The PancakeSwap team has incentivized BEP-20 SUSHI liquidity allowing users to earn amazing APY's (Annual Percentage Yields) through providing liquidity or staking SUSHI. Currently, users who provide liquidity to the SUSHI/ETH pool will earn 160% APY.
For those who are unfamiliar with AMM’s, and yield farming check out the following articles:
Cryptonomics: Automated Market Makers
Cryptonomics: Yield Farming Explained
Last week a poll was conducted regarding a new token to be added into the Syrup pools. As SUSHI obtained the highest number of votes a syrup pool has been rectified. This syrup pool is different from the regular staking. Usually, you stake CAKE, but PCS has subsidized the pool allowing users to earn CAKE from staking SUSHI. As these liquidity incentives are limited, the team has capped the syrup pool to fifty SUSHI per wallet.
Here is the sushi BSC contract address https://www.bscscan.com/token/0x947950bcc74888a40ffa2593c5798f11fc9124c4
Aside from the fact that the community voted for these liquidity incentives, PCS can benefit from the added SUSHI liquidity. These farming rewards allow Ethereum based users to easily migrate their SUSHI LP's to the BSC to earn potentially higher yields alongside lower transaction fees. In return, this bootstraps more users and liquidity to PCS, ultimately helping the protocol. It is also important to note that PCS is rooting itself as one of the leaders in ETH bridged liquidity on the BSC. They have done this by providing pools such as COMP/ETH and SUSHI/ETH, with many more on the way. Overall this further strengthens PCS's role in the BSC ecosystem as they continue to maintain the best liquidity for most BEP-20 token pairs.
Bentobox is a lending platform similar to Venus, Crean, and Aave. BentoBox innovates further in attempts to cut out significant limitations faced by crypto lenders:
Pancakeswap is the largest AMM on the BSC, and they continue to innovate rapidly. Their latest release features SUSHI/ETH liquidity pools that allow users to receive ETH-based De-Fi exposure while utilizing the BSC's low transaction fees. To further incentivize the liquidity, the team at PancakeSwap has created both a syrup and farming pool allowing users to earn generous yields. Overall seeing more cross-chain interoperability between the BCS and ETH is great for De-Fi as a whole. Further interoperability is on the way, reducing ETH network congestion while simultaneously allowing users to access ETH-based De-Fi with nominal fees on the BSC. I am beyond excited for the launch of Bento Box and the many other ETH-based projects soon to be supported on the BSC.
For those who wish to check out PancakeSwap and SushiSwap check out their social media and websites below:
