Crypto.com launched a new yield farming focused feature called DeFi Swap on September 11. The feature is closely tied to the CRO token and aims to provide users with the best possible rates.
- DeFi Swap will let users swap and farm DeFi tokens and provide liquidity to earn triple yield
- As incentive, 14 million CRO tokens have been allocated towards a rewards pool for the first 2 weeks
- Liquidity Providers (LPs) can stake CRO tokens to boost yield by up to 20x; LPs will also share 0.3% of the trading volume fee
- Native ETH will need to be converted into Wrapped Ethere (WETH) before it can be used on DeFi Swap
- DeFi Swap supports the following tokens: WETH, Tether (USDT), USD Coin (USDC), Dai (DAI), Chainlink (LINK), Compound (COMP) and Crypto.com (CRO)
- However, DeFi Swap will not be available in several countries, including the United States and Mainland China
- Crypto.com’s CRO token is currently ranked 9th on CoinMarketCap, with a market cap of $3.2 billion