Today I'm going to talk about a DeFi project, still very unknown but well designed and with a good interface.
MoonSwap works as a Layer 2 ETH protocol known as Conflux Network. I discovered Conflux Network last year when it appear and sounded like a nice project for my low end GPU to mine, CFX is a PoW coin like ETH.
A few month after this I came to know about MoonSwap and was delighted by the project, you have the options to add liquidity to any pair you want, the tokens are all called with a c behind the name, like cETH, cLink, cMaker and all those known ETH tokens, all this tokens have the same price as the original tokens. Their own coin is called Moon and in the DeFi Website you see it as cMoon. You can earn cMoon by adding liquidity to a pair, right now the pair cMoon-cETH is paying 240% in APY, that's a huge value. When you put your liquidity in the pair you will receive in the Farm section of the website a ratio of MLP, that you can stake and the cMoons will start to accumulate, you can just leave it and withdraw your cMoons anytime you want.
You also have a section to stake your bought or earned cMoons, this stake gives you 12 to 15% of APY depending on the days.
So, as you can see you are generating income in three different ways in the same DeFi Dapp, liquidity, MLP staking for cMoons and cMoons stake for more cMoons.
They also have a new NFT place where you can buy or sell NFT. This platform is as complete as you can get.
For using you only have to have Conflux Portal that is a chrome extention wallet for Conflux, remember to write down your seed phrase, any amount of CFX (Conflux), it can be only one Conflux and then you just have to go to MoonSwap Dapp and connect your wallet like in ETH. The Dapp has an exchange where you can buy and sell your Conflux, it's exactly like Uniswap this part. Every transaction you make in MoonSwap will cost you 0 CFX, and you will be playing with ETH tokens that have huge fees in ETH blockchain. Remember when you swap your tokens in the exchange leave at least 1 CFX in your wallet as it's needed, this Conflux will not leave your wallet neither you will pay anything signing smart-contracts.
If you want you can buy your Conflux (CFX) in Binance, CoinEx and others. This is a great way to earn more from your coins and wait for cMoon to explode in price, the project is really good and with 0 in fees it's here to stay. Conflux Network owned ETH big time this time.
You can check this all out in moonswap.fi .