The Ultimate SnowSwap Guide: From Snowflake to Avalanche

The Ultimate SnowSwap Guide: From Snowflake to Avalanche

By PVMihalache | Mind Puzzle | 26 Jan 2021


The scroll of history!

It was Autumn, 21st of October 2020, and I was getting ready for winter. In this day I joined the Snow Brotherhood, as a simple snowflake. Brace yourself! SnowSwap is coming!

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SnowSwap, the newest winter icon, was ready to claim the Frozen Throne by providing simple and efficient design for stable-coin trading, wrapped tokens staking, and supplemental fee income for liquidity. The Coca-Cola truck, my winter childhood image, was replaced by SnowSwap!

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I used Metamask to access the SnowSwap platform, which by then was the Beta version of the DEX, and started exploring. I knew nothing about SnowSwap, but this snowflake was ready to learn, this snowflake was ready to be part of something bigger. The RoadMap had innovative ideas and planned upgrades which will take SnowSwap where no DeFi protocols have gone before. SnowSwap was the first AMM to execute on a Quadratic distribution and yVault swaps. 

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The single-asset liquidity mining pools were launched one by one and everything went smoothly. Many pools are now available, and many more are planned for integration but few can remember the ones that were supposed to be the original LP pools. They were the following: Dasher’s Pool (YFI), Dancer’s Pool (oUSD), Prancer’s Pool (FARM), Vixen’s Pool (LINK), Comet’s Pool (ySnow), Cupid’s Pool and (ycrvSnow) and Frosty's Pool (Snow)

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Three months from then, the story unfolded and the SnowSwap project achieved every single idea on the RoadMap and even more. I evolved from that snowflake into a snowball, and rolled on fresh snow until I made a snowman. From this cute creature, an abominable snowman grew and if this trek through ice peaks will bring more experience and progress, than the tiny snowflake will soon become an avalanche. 

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When the Rudolph's Ethereum pool was added, it stormed the world, and created a blizzard of APY and a great chance to earn SNOW. I got my first SNOW token when the price was over $2 and I feel regret I didn't invested more, but this Covid-19 gave me a hard time and reduced my income. I seen the price moving up and down, and when it reached $10 many decided to cash back, but I decided to freeze and HODL! 3c85496870ccc554e109be11fb5cde72cda8b865ec92c9130acd84ece237a78c.jpeg

Soon after the lunch of Frosty's Pool, I had 5.6 SNOW tokens to stake, at 23% APY. My little bundle of snowflakes was just enough to build a snowman. The fee was $.264 Ethereum, which I gladly paid. About 30 seconds later, the staking was completed, and I was earning SNOW!e638a78580eef8ebb01e9c453b0fe4edfabb2f6b066512a70412d8ecb1b7921b.png

When I checked  few hours later, just to make sure the staking is running smooth. the APY value kicked me like frostbite! This small bundle of snowflakes grew like a berserk Yeti, the abominable snowman.

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Once you become friend with Frosty, he will treat you well! Please don't do like me and abuse the refresh button, as the APY will generate profit even without constant checks at unusual and awkward times.

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Once the $Snow is deposited in Frosty's Pool, it's start earning. Let it snow! Let it snow! Make Frosty's Pool grow!feb89611eb8148c5ff4bcb9519afe6b56b452d7a077ed27a12568602b2d356e8.jpeg

I took part in the AMA on YieldGuild’s official Telegram channel, where SnowSwap was invited to address a large audiance. The ultimate goal was shared, to make SnowSwap the liaison between top DeFi protocols, and one of the top liquidity pool provider. Just add SNOW and enjoy let the APY work!

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The book of present days!

Day after day, SnowSwap announced new partnerships, added new features and upgraded the core vision. Is nothing abominable at SnowSwap, just a great community, a top projects, and great APY.

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The Snow DAO already plays a pivotal role in cash flow allocation, as the speed of innovation and development will reach the desired standards. I am a Discord member from the beginning and I love the community (and the community loves my memes, so we are even). If you're a fan of the Snow King, or if you like Olaf, than you will like SnowSwap. The night is long and full or terrors but you don't have to fear the walkers, as the Pools are more secure than Winterfell!

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December came with an early Christmas gift, as Snow Swap launched the Bitcoin bridge between the two largest yield farming ecosystems: Yearn and Harvest finance allowing the holders of btcSNOW to earn the underlying yield of the aforementioned protocols plus the SNOW rewards. dbe6d302dd6f93d9fcfe780325ff43648c1f35c6999e8e27d35b54b62f1d1b54.jpeg

My journey into the frozen waste started barefoot, and slowly went to a sleigh ride. My snow stash grew from 5 to 9.88 and the earning grew as well.

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Recently, $SNOW grew big but didn't go to the  moon... SnowSwap is went to the North Pole to shine bright like the Aurora Borealis. 

This SNOW blizzard started with the SnowSwap launched of btcSnow, the first wrapped Bitcoin token. The btcSnow pool linked Snow to the joint kings of the DeFi, Harvest Finance and Yearn. Focusing on the projects with the biggest TVL gives a great opportunity to Snow holders.f3d09d80a0a3d930d421e96d3739a4ee752fac78ff7b75064dcf29f1a432b9f1.jpeg

SnowSwap grow and expanded under the Harvest/Yierd partnerships and slowly evolved into a big player of the DeFi market. Badass Santa will keep bringing gifts to liquidity providers. I told you few months ago that SnowSwap is destined for greatness and the recent events proves that my forecast was correct. When I started writing about SnowSwap, some said that is another copy of UniSwap. Now is my turn to say that SnowSwap is not for snowflakes, is a project created for strong characters. Dear SnowSwap... I've been with you since day one! I know I am not on the Naughty List!af453dfd778e982bfe555c4075234035d217430738a1d9a8573518fb696990ba.jpeg

SnowSwap interface is so user friendly, therefore is never to early to teach your children to provide liquidity or to stake some Snow. Is the best time to teach the future generations about the method that can help them reach financial independence.34739c1a88a2d0c23814b52a61ac6f4233db2d66ceeb194cb337903ec78448ed.jpeg

The SnowSwap tour!

The APY for staking and liquidity providers are so high that after you stake them... you sign for a blizzard of rewards! The main page allow users to buy and sell in the yVault USD, yVault Curve, btcSNOW and eth2SNOW. Assets can be also moved between the vaults.b165dbe297cca7ae1af45eb50a703c7e872a440918f537a5e3b211de6ab556d1.png

The DAO page is not ready but ... is coming soon!

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In the Deposit page, users can deposit currencies and LP tokens. The assets can be deposited in classic form or wrapped. Users have the option to customize the gas price, from slow, standard, fast and instant. 127c65cd7e3f44b822407f277a3f9d5ac17671e8e60c77df3d48b7763bf35640.png

The Withdraw page will allow users to withdraw shares of the liquidity, and the currency they want to withdraw in.

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The Stake page contains the LP pools and Frosty's Pool. All of them will reward $SNOW. Frosty's Pool is a staking pool, where the deposited SNOW will generate more SNOW. This is the place where I am building my snowman. The APY was crazy lately, due to an error.50e723b8e4758bd7f5e1bc7809e563c64ceb66e019e615619dc35b4bf8fdce4d.png

SnowSwap announced on Twitter that a mistake was made in the pool, paying 12 months of rewards in 12 weeks. The Snow Team embraced their mistake and kept the boosted APY for 7 days. 

The other available pools are the following: Rudolph's (SNOW-ETH), Santa Claus's (ycrvSNOW), Jack Frots's (ySNOW), Cupid's (btcSNOW) and the newest one ... the Buddy Elf's (eth2SNOW)

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I wanted to take advantage of the 7 days of boosted APY, but the ETH gas fees made me abandon the idea. 213a33a3dc0d08c11a015b814b31c3cab4071bf8702b2363e40ce12cabbecf06.png

I had 2.45 SNOW to stake, 9.88 SNOW to migrate from the old pool and 1.19 SNOW reward to claim. Not sure someone was willing to pay $750 for a transaction.

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Checked few days later, and to stake 2 SNOW tokens, I had to pay their value in ETH gas fee. I decided to do what an ice cube will do ... wait and be cool!3c612716bb0b5d7397ae0293a99397bf9d1f3bec127d4ca8101db9eb57149e4c.png

When the Crazy APY Pool closed, the fees returned to normal, and I managed to migrate, claim and stake all my SNOW, bringing everything together.

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The grimoire of future spells!

Can't expect to make a fortune with $20 but my initial investment in SNOW was even lower than that. Watching SNOW's evolution in the last week, I can dream to become a sno'millionaire!

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Managed to claim my reward, to migrate my SNOW from the old pool, and stake my hard earned tokens. Now is time to enjoy the blizzard!e7660aeb8f1cbb9b36f6d6a384e7b94ea88f4f34fe628098dabf7f06fe7390b2.jpeg

Rest assure that Snow Swap never rests, as the Ethereum 2.0 swaps were announced. This will include Cream.Finance, LidoFinance and SharedStake. The Ethereum2 Pool will incentivize with Snow Tokens and SGT. All Snow holders will get SharedStake Aidrops.

The Snow King is watching from his Frozen Throne, making sure that his White-Walkers are having enough SNOW!2c6d39f0275e7bfc686e97316ccf02a00ba3afd78df9423655fd53796ff77891.jpg

Not sure what's my current rank in the snow-walkers army, but definitely I evolved from being a snowflake. Do you want to advance thorough the ranks?

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Resources:

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Residual Income:

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The fountains: PipeFlare ZCashGlobalHive ZCash  & Get.ZEN

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PVMihalache
PVMihalache

Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


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