Brace yourself! SnowSwap is coming! If you don't want to miss this train (or sleigh) make sure you follow the newest updates on the SnowSwap website, SnowSwap Medium, Telegram, Twitter or Publish0x SnowSwap
SnowSwap, the newest winter iconic image is following the roadmap and plans to bring more fresh ideas and innovations into the crypto ecosystem. If the shiny Coca Cola truck was one of the winter's iconic images, everything changed with the launch of SnowSwap.
Metamask is the fastest and easiest way to log on SnowSwap. The platform includes the code-base from existing audited projects but still invest with caution as any investment into the early experimental version can be lost, therefor SnowSwap will not be liable for any loss, whether such loss is direct, indirect, special or consequential, suffered by any party. No independent smart contract audits were conducted and users are encouraged to conduct your own research before interacting with these products. The platform will continue innovating with the community’s best interests and ideas in mind.
❄️ The first big step will be the launch of single-asset liquidity mining pools on SnowSwap: Dancer’s Pool (oUSD), Comet’s Pool (ySnow), Cupid’s Pool (ycrvSnow) and Snow Pool (Snow). The single-asset pools will increase the inflow of liquidity, will eliminate the impermanent loss experienced by users with the existing pools and will create liquidity for future integrations. The launch of Cupid’s wBTC pool and Dancer’s OUSD pool had great impact and created hype around SnowSwap. The wBTC staking pool is planning to attract the wBTC holders to SnowSwap and generate wBTC liquidity the next range of swap pool for Bitcoin derivatives tokens. The complete list of updates and information can be found in the SNOW liquidity mining forecast.
The 3rd Snow Airdrop will be distributed on the 31st of October at 4 AM (UTC). Snapshots are currently taken since the 16th of October and will continue until the distribution time on the 31st. The Winter Wonderland plan includes the distribution of 15,000 SNOW tokens (3% of supply) to SnowSwap Liquidity Providers, proportional with the amount of liquidity provided over time.
Meanwhile, SnowSwap announced on Twitter the newest partnership, an $OUSD staking pool. The SnowSwap AMM exchange for yield-aggregating stable-coins will provide $SNOW reward on top of OUSD interest. OUSD is the first stable-coin that earns yield while users are HODL in their wallet. The balance is auto-compounding with no staking process, no gas fees or lock-up periods. This sounds like an early Christmas gift! As part of the partnership, the Origin Protocol will support a $SNOW pool upon the launch of their liquidity mining program, which is currently set for the middle of November.
New staking pools were added (ySnow, ycrvSnow, SNOW, wBTC, OUSD), and others were closed (ySnow/SNOW Uni LP and the ycrvSnow/SNOW Uni LP). Users can withdraw their tokens from the inactive pools and the SNOW reward accumulated and stake it in the newly open ones. The Community Vote decided that a 1.5x bonus multiplier will be added to all deposits into the SNOW/ETH pool for 2 weeks, starting with 31st of October, at 4 AM (UTC). This will compensate the users for the deactivated pools and will make it fair for the liquidity providers if they wanted to continue the supply of liquidity.
Winter Wonderland ticket sale!
As part of the RoadMap and of SnowSwap vision, many upgrades, improvements and events are planned for the winter of 2020. The distribution of $SNOW will be done via a smart-contract based mechanism. The Synthetix (SNX) contracts were forked, and Ampleforth Geyser contracts are used for the SNOW-ETH Uni LP pool which multiplies rewards according to time staked. Makes sure you book your tickets for Crypto Winter Wonderland.
The $SNOW token distribution is scheduled over 52 weeks, with more tokens shared in the first weeks, than slowly decreasing the number over each period as it follows:
❄️Weeks 3–4: 1,600 SNOW tokens daily
❄️Weeks 5–6: 1,200 SNOW tokens daily
❄️Weeks 7–8: 800 SNOW tokens daily
❄️Weeks 9–10: 600 SNOW tokens daily
❄️Weeks 11–13: 400 SNOW tokens daily
❄️Weeks 14–52: 200 SNOW tokens daily
The three month bonus period will unlock 200 SNOW tokens each day, until the 13th of October 2021 or until the total amount unlocked will reach 150,000 SNOW. The daily rewards will be distributed between the pools in set percentages and following various goals, from $SNOW price support and liquidity market to $SNOW distribution to loyal supporters of DeFi projects linked or working with SnowSwap.
The long-term holders of SNOW will be able to claim 20% of all rewards being distributed in this epoch once the Frosty's Snow Pool will be launched. The SnowSwap liquidity providers will be able to stake their LP tokens with a single click on the “Deposit and Stake” button. Farming and staking will be available in all the three pools: Rudolph (SNOW-ETH), Santa (ycrvSNOW-SNOW) and Jack Frost (ySNOW-SNOW). Check out this amazing APY on the Rudolph's Ethereum Pool!!
Do you wanna build a snowman?
No! You want to join SnowSwap. With the constant upgrades and the addition of new liquidity pools, the token will gain more utility and value. Book your Crypto Winder Wonderland tickets now and ... Let it snow! Let it snow!
Did you sing any of the above lines? If yes, your heart is already beating in partnership with SnowSwap core vision. The active discussions with DeBank.com for a future partnership will result in a simpler method to enter and exit tthe SnowSwap liquidity pools, thereby growing the top of the funnel. SnowSwap is also planning to fund an insurance initiative to provide cover for TVL and a cover from Nexus Mental. The Withdrawal UI Bug, Donate Dust and Rewards Bug are all fixed and shows the SnowSwap commitment to achieve total bug fixing and optimizations. Please stop singing "Let it goooo.... let it gooooo!" and don't build a snow man ... instead you can join SnowSwap!
The SnowSwap team participated to an AMA in YieldGuild’s official Telegram channel, where they shared with the community an impression of the horizon view for SnowSwap and the development plan. They made it clear that the communication must become more efficient and the usage of SNOW must improve. The ultimate goal is to make SnowSwap the liaison between top DeFi protocols, and one of the top liquidity pool provider. The efficient swap of wrapped stable-coins and DeFi meta-assets will attract fiat holders to supping liquidity in SnowSwap pools and DeFi protocols. As a first achievement, SnowSwap optimised the swap between yVault tokens without the standard 0.5% fee. Give yourself a gift this winter and deposit into the SnowSwap liquidity pool. This move can be the first step towards a balanced financial life.
You know nothing ... about SnowSwap
The platform is looking into ways to minimize transaction costs/exit fees for stablecoin and meta-asset swaps, to offer users additional yield via LP fees by participating in SnowSwap and multiple ways to earn $Snow tokens. The short term goal is to build a strong community, solve existing bugs, seek to secure generation of predictable and sustainable cash flows. The long-term objectives and ongoing partnership discussions will be included in the public road-map publication scheduled for the end of October. The Snow DAO will play an pivotal role in cash flow allocation, as the speed of innovation and development will reach the desired standards. The SnowSwap team is reachable on Discord and will increase their presence on Telegram. Dear friend, if until today you knew nothing about SnowSwap, everything just changed. SnowSwap is much cooler than John Snow.
If you're a White Walkers fan, or if you consider Olaf cute and hilarious, than you will like SnowSwap. The night is long and full or terrors but you don't fear the walkers, as the Pools are more secure than Winterfell!
* currently testing ReadCash
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