Liquidity mining

xSigma DeFi Offers Lucrative Rewards for Liquidity Providers, Whitepaper Released

13/01/2021 by Idelto Editor

xSigma is an upcoming stablecoin DEX protocol developed by the first DeFi project backed by a NASDAQ-listed company. In order to attract liquidity providers to supply their stablecoins to the decentralized exchange, the protocol will feature a lucrative rewards system for liquidity mining. The project recently finalized its smart contract and today released its whitepaper to the public.

Provide Stablecoins, Earn SIG Tokens

DeFi investors have earned some great yields recently, but also fallen victim to scammers, hackers and just awful programmers. For this reason it is good to find a project you can trust with your digital assets before you make the leap. And you can’t find a project more focused on minimizing these risks for liquidity providers than xSigma DeFi. This is a DEX protocol developed by a team full of top-notch software developers and a lab backed by a NASDAQ-listed company.

One of the main goals of xSigma is to make the process as safe, user-friendly and profitable for liquidity providers as possible. All that liquidity providers have to do is to supply stablecoins, which they can withdraw back at any time, and the system will take care of the rest and earn them SIG tokens while they seat back. One might think of it as an “Uber for market-makers,” where instead of every investor working for himself, the technology aggregates the best returns.

Recently xSigma also introduced an enhanced rewards system for early adopters where liquidity providers can expect to earn extra lucrative incentives for the first couple of weeks at the protocol’s launch. Up to twice the rewards for the first week. The developers also work to keep the rewards coming, using a scalable system to incentivize ongoing stablecoin farming. All liquidity providers additionally benefit from better exchange fees on the decentralized exchange.

xSigma Whitepaper Released Today

As mentioned above, xSigma is the first DeFi project backed by a NASDAQ-listed company. The lab is a wholly-owned subsidiary of ZK International Group Co., Ltd. (Nasdaq: ZKIN), a major China-based company that is focused on supplying advanced steel piping. The impressive xSigma team also includes world-class developers with previous experience working for Google, Facebook, Ripple Labs, 1inch and other technology companies.

Each one of these factors would make it stand out from the crowd of DeFi projects by its own right, but having both an incredible backing and an impressive team make xSigma truly remarkable. The SIG token powering the system also has great fundamental factors supporting its value.

The supply of tokens will be tightly controlled, with most of it going to liquidity providers, and SIG will be burned with exchange fees. This will both reduce the supply and, at the same time, increase the demand as more users will need to get SIG to use the platform. Holding SIG will also be needed to vote in the xSigma DAO, which will control future token issuance, thus putting the power of limiting supply mostly in the hands of liquidity providers. Additionally, the xSigma is being marketed very professionally and transparently in contrast to most of the DeFi projects out there which is use to attract more prudent investors.

The xSigma team is hard at work developing the protocol and new developments are happening at a constant pace. December 29, 2020 the team announced the completion of the smart contract which was sent to extensive technology software audits to ensure the safety of funds and integrity of the system. And today, January 12, 2021, the xSigma whitepaper was released. The 17-pages document provides a straightforward introduction to the protocol and what makes xSigma superior to existing DeFi protocols.

To keep up to date to future developments with xSigma, its new DeFi protocol and the lucrative rewards system for liquidity providers visit the lab’s website at xSigma.com anf the project at xsigma.fi. For more join the community on Discord, Twitter and Telegram.

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Nimera Swap Offers DeFi Exchange Platform With Low Fees and Support for Any Blockchain

08/12/2020 by Idelto Editor

The Defi revolution has brought about a new world of opportunities for crypto investors, but major improvements are still needed in the current ecosystem. For example, the most popular coin swapping service today is dependent on ethererum and its ridiculously high gas prices. Nimera Swap offers a solution to this problem with a DeFi exchange platform that has lower network fees compared to ethereum-based solutions and also supports all kinds of tokens.

DeFi Exchange Platform With Lower Fees

Nimera Swap is a new service where you can easily exchange crypto assets or provide liquidity and earn passive income. The service is developed by Nimera, a blockchain ecosystem developer. To celebrate the new platform Nimera will be distributing 10,000 USDT among liquidity providers for the service, with prizes awarded in proportion to your share of total supplied liquidity. For more details about the upcoming promotion check out the platform’s website at Nimera.Exchange.

The new service offers a number of advantages over existing platforms like Uniswap. Probably the most noticeable difference to experienced users will be the fee prices. While the older coin swapping system is dependent on ethereum and thus suffers from very high gas prices, Nimera Swap is powered by its own EON blockchain. This means that fees can be lower compared to ethereum-powered alternatives. As low as 0.5% on select pairs, in fact.

If you are new to DeFi swapping, Nimera Swap also offers a number of advantages over traditional crypto exchange platforms. One of the most exciting of these advantages is the possibility for liquidity mining, also known as yield farming, which is a way to earn passive income on your crypto holdings by serving as a liquidity provider for the service. Unlike popular DeFi platforms, projects need to pass an evaluation before getting access to the platform. This minimizes the chance that trades and liquidity providers encounter scam coins. The user interface of the Nimera Swap platform is also much easier for new traders to use as it does not have confusing features that centralized exchanges have such as order book and complex charts.

Another major advantage of the Nimera Swap over older DeFi platforms is its support for all kinds of blockchains. As mentioned above, the new service is not dependent on ethereum and as a result it can support all types of assets and is not limited to offering only ERC-20 tokens like Uniswap. This can potentially open a much wider world of investment possibilities for crypto traders.

Beyond the traders and investors, Nimera Swap is also very attractive for projects that want to get liquidity for their tokens. The service will allow listed projects to create liquidity pools with multiple markets, access market-making tools and be empowered to grow their community of investors.

“Our goal is to create an ideal starting platform for projects, by providing them with community management tools, detailed public profiles to help share how awesome they are with the world, and profile pages with analytics on performance,” explains Ivan Skladchikov, Head of Marketing at Nimera. “ We give projects a way to gain traction.”

To learn more about the Nimera Swap platform and the upcoming promotion for the new service visit Nimera.Exchange right now!

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Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%

11/10/2020 by Idelto Editor

The latest data from Coingecko shows that the combined trading volumes of cryptocurrency exchanges went up by $155 billion between July and September, from $175.7 billion to $330.6 billion. The new total volume represents a 88% increase which Coingecko attributes to the decentralized finance (defi) hype and yield farming frenzy that peaked in August.

In the report, Coingecko also observes that from the start of Q3, traded volumes on decentralized exchanges (dexs) grew much faster than those of centralized exchanges (cexs). For instance, in Q3, “the monthly average dex trading volumes (of top ten dexs) grew by 197%, outperforming the average volumes of the top ten cexs, which went up 35%.” Despite the explosive growth, which also appeared to slow in September, dex volumes account for just 6% of total cex volumes.

Explaining the relatively modest performance by cexs, the report observes that while the month of August proved to be the best after volumes grew by 83%, September trades ultimately reversed the previous month’s gains. According to the report, cex volumes dropped from $314.6 billion seen in August to $300 billion by end of September. The report states that Coinbase and Okex contributed 60% of the reversal.

Meanwhile, the report also provides data on the performance of individual dex platforms during the period. As the data shows, Uniswap, which contributed just under 50% of total dex volumes in July, saw its market share grow to 63% by end of September. Following Uniswap is Curve which experienced a fast-changing quarter after its share initially dropped from 24% in July to 13% in August. However, by the end of September, Curve had recovered after contributing 17% to total dex volumes.

In the meantime, Sushiswap, which forked from Uniswap on August 28, managed to account for 8% of the total volumes by the end of September. The rest of the dex protocols contributed 4% or less to the total volumes.

Next, the Coingecko report provides a timeline of key events that explain the apparent rivalry between Uniswap and Sushiswap. The report highlights that after forking, Sushiswap went on “to introduce a new token (SUSHI), distributed via liquidity mining.”

Explaining the significance of this move, the report says:

“Unlike Uniswap which shares 0.3% of trading fees to liquidity providers, Sushiswap shares 0.25% to liquidity providers with the remaining 0.05% being converted to SUSHI and distributed to SUSHI holders. Mining returns of over 2,000% drew in over $1.4 billion to Sushiswap at its peak.”

On September 18, Uniswap began liquidity mining and since then its total-value-locked (TVL) soared to over $2 billion by the end of that month. Lastly, the Coingecko report suggested that non-fungible tokens (NFT) farming are showing signs that they could be the next big thing after defi tokens.

Do you think DEXs volumes will continue to grow as they did in Q3? Tell us what you think in the comments section below.

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XSwap Started Yield Farming, The Highest APY Reaches 70,000%

21/09/2020 by Idelto Editor

XSwap, a main products of Xfinance ecosystem, has launched Uniswap LP token liquidity mining. This is a fair version, 100% distributed to the community, with No team shares, No Pre-mine. Governed by the Xfinance community.

In just a few hours, the funds in the pool are above to 5000ETH. The highest APY reaches 70,000%!

XSwap dapp link: https://xswap.app

How to participate in XSwap Uniswap liquidity mining?

Choose your favorite pair and add liquidity on Uniswap, then approve and deposit UNI-LP token on XSwap.

In the first 100,000 blocks, each block will provide 10,000 XSP rewards, after 100,000 blocks, each block will be reduced to 1,000 XSP rewards.

The maximum supply of XSP is 3,000,000,000 XSP.

Reward ratio of each pool:

XSP-ETH: 40x; XFI-XSP: 12x;

XFI-ETH: 12x; XFI-LID: 7x;

UNI-ETH: 3x; LID-ETH 3x;

Others: 1x;

XSP token contract address

0x9b06D48E0529ecF05905fF52DD426ebEc0EA3011

Buy XFI:

https://uniswap.info/token/0x5befbb272290dd5b8521d4a938f6c4757742c430

Buy XSP:

https://uniswap.info/token/0x9b06d48e0529ecf05905ff52dd426ebec0ea3011

What are the XSwap development goals?

XSwap will become the most important product in the Xfinance ecosystem, that is, decentralized automatic market-making leveraged exchange. XSwap Staker will receive a 0.05% transaction fee, the liquidity provider will receive a 0.20% transaction fee, and the 0.05% transaction fee will be used to buy back and burn XSP.

XFI will become the governance token in the Xfinance ecosystem and will also have deflationary characteristics. The better the Xfinance ecosystem develops, the greater the value of XFI.

Xfinance community

Twitter: https://twitter.com/xfinance_io

Telegram: https://t.me/nowex_io

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com 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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Defi Project Yfdex.Finance Vanishes With $20M Investors’ Funds Just Two Days After Launch

11/09/2020 by Idelto Editor

Yfdex.Finance (Yfdex), a new liquidity mining pool, has reportedly exit scammed, making off with up to $20 million of investors’ funds. The decentralized finance (Defi) project convinced people to hand over their life savings following just two days of aggressive marketing on social media, and then disappeared without a trace.

Crypto investor and analyst Cryptowhale on Thursday tweeted about Yfdex’s alleged dramatic plunder, a classic hit, and run. “Another day, another Defi scam!” the analyst ridiculed. “After promoting themselves on Twitter for 2 whole days, Yfdex has taken a total of $20M of Investors funds in their recent exit scam,” he added.

News.Bitcoin.com followed the breadcrumbs. A visit to Yfdex’s official channels on Telegram and Twitter showed that both accounts had been pulled down. The protocol’s website as well as its page on Medium, all of which were used to promote the project, returned an error message.

But much of the work had been done prior, in the past two days, to be exact. On September 8, Yfdex announced the pre-sale of its eponymous token, starting at 16:00 UTC, according to earlier screenshots posted by the Yfdex community on a Telegram discussion group, now a hotbed of regret following the alleged exit scam.

Yfdex, which touted itself as “a powerful player of industry (sic) that breaks down all barriers”, said the pre-sale was to last only four hours “until hard cap is reached… [and any] unsold tokens would be burned immediately.” For each ether (ETH), an investor would receive 12 Yfdex tokens, it added.

Within a few hours, a total of more than $20 million had been locked into the Yfdex protocol from thousands of investors. And that was it. Soon after, on September 9, the project completely disappeared from the radar, leaving investors facing financial ruin.

Cryptowhale expressed skepticism towards the whole economy of decentralized finance, telling his 33,000 followers on Twitter that: “99.99% of Defi tokens are scams, and will go this (Yfdex) route. Please be very careful if you are heavily invested.”

The news comes hard on the heels of another alleged fraud within the Defi space. Sushiswap anonymous founder was on September 5 reported to have exit scammed after converting all of his sushi tokens to ETH. The allegations later turned out to be false, as the founder transferred the coins to a known third party for supposed safe-keeping and transparency purposes.

Liquidity mining, the new craze in crypto economy, “is a community-based, data-driven approach to market making, in which a token issuer or exchange can reward a pool of miners to provide liquidity for a specified token.”

What do you think about the risk of fraud in Defi projects? Let us know in the comments section below.

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