Hi everyone. I am just putting up this post to show a video someone else made. In this video, he explains how to use Swop.fi.
Swop.fi is a swap program like Uniswap, but over the Waves network, but you can trade any token.
How is this possible?
The waves system uses the gravity protocol which lets you send and receive any token, which essentially wrapped, over the Waves network.
For this, you need to use Waves.Exchange. I'll go into that in another video.
But basically, when you send any token to the proper Waves.Exchange wallet address, smart contracts will automatically convert it into a wrapped token.
Not only can you trade over the Waves.Exchange, but you can also use Swop.fi. Swop.fi usually has better prices than the Waves.Exchange, or at least something close to a medium price. For less liquid tokens, waves sometimes has a large spread. Not a problem with Swop.fi.
Most trades are around 1-3 cents in waves!
Please note: When I say any token, I mean that only certain tokens are supported, though there are dozens. In the future, Waves is going to add any token and the creation of any pool on Swop.Fi
Farming on Swop.fi QUADRUPLE REWARD
Swop.fi offers several farming rewards. Right now, for 3 more days, there is the early bird reward. Each token for which liquidity is provided will receive part of 1 Million Swap tokens at launch, to be released over the first year.
Then there is the Liquidity providing reward. LP rewards started last Thursday, 1/28. For that, you need to stake your pool tokens in Investments. Those pools will be toward another million SWOP tokens on launch.
You also get money from liquidity providing fees and governance fees! That's part of what people trade.
Finally, your USDN and USDTLP tokens are automatically staked. So In the USDTLP-USDN pool, your tokens are getting 8% on one side and about 50% staking reward on the other, paid daily. NSBT also has both NSBT and USDN rewards, so ROIs an APYs can get pretty outrageously good. So try out Swop.fi!
Please watch th video below for details. More coming soon!
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