Ho Chi Minh City, Vietnam, 11 February 2023, Chainwire
AshSwap, First Stable Swap DEX MultiversX Blockchain (formerly Elrond Network) will officially launch on the MultiversX mainnet on February 17th. DEX seamlessly bridges important his DeFi capabilities, offering tighter spreads with MultiversX’s slight liquidity.
In November 2021, AshSwap successfully raised $2.5 million in a private sale led by Elrond. His initial offering of ASH tokens on the Maiar Launchpad sold out with his 70,000,000 ASH (7% of his total supply) worth $2.8 million. AshSwap has since released all the core features available in his MultiversX Devnet from October 2022.
After over a year of rigorous testing and development, AshSwap is live on mainnet with the following features:
- Pool V1 (stable swap)
- Pool V2 (unstable swap)
- liquidity supply
- Liquidity staking (farming)
- governance staking
- Yield improvement
After the launch date, AshSwap will open 3 pools.
- USDC/UDST/BUSD (stable swap)
- ASH/USDT (V2)
- EGLD/BUSD (V2)
AshSwap is liquidity supply, a feature that allows users to add liquidity to the three available pools and receive LP tokens as receipts. You also have the option to participate in yield farming. LPs can stake LP tokens and earn ASH tokens as farming rewards. Distribution to farms is determined by the DAO.
By staking ASH governance staking, users will receive veASH (voting escrow ASH) in return and can take advantage of multiple benefits.there will be again emissions votingThis allows veASH holders to manage their ASH emissions for each pool. The more votes the pool gets, the more her ASH rewards are allocated. So her APR for that particular pool will be higher, attracting deeper liquidity.
Another core feature: bribe, allowing anyone to bribe veASH holders to vote for farms. For example, if the owner of a project using token AAA wants to increase the liquidity of her pool AAA/USDT with AshSwap, she offers an incentive called bribery to get more of her veASH holders to vote for her pool. can encourage you to do so.
AshSwap stands out because it is MultiversX’s first stable swap DEX. In any blockchain ecosystem, stablecoins typically have a significant impact on yield farming and borrow/lend cycles. As a result, DEXs that offer stable exchange rates are essential for a thriving environment.
Neil Nguyen, CEO of AshSwap said: The community has demonstrated a strong ability to execute its vision. ”
AshSwap believes that increasing DeFi interoperability will improve capital efficiency for liquidity providers and maximize returns over time. As such, the AshSwap team plans to develop trading products other than stable swaps in the future while providing a seamless and user-friendly interface for trading and managing assets.
Additionally, AshSwap’s native token, Ashdesigned to help the sustainable growth of the protocol in real-world use cases and to incentivize liquidity providers on the platform.
To celebrate the launch of the stable swap DEX, AshSwap is hosting a series of incentivized warmup activities including:
- ASH Staking Reward Pool veASH stakers will share a pool of 2,000,000 ASH over the 27 days from January 21st.
- AshSwap Launch Racea referral program up to $1,000.
- 250% APY (2.5x) boost across all pools within 7 days of launch.Enjoy Favorable APY here.
- Ash Point Custom Questthe three events that the user gets ASH point Complete Gleam quests, trade on AshSwap DEX, and stake ASH. The more ASH points he owns, the more likely he is to be whitelisted in future AshSwap airdrops.
Find out more about these programs here hereJoin the AshSwap community and join the future of decentralized trading today app.ashswap.io
Community Managers, Erik Pham, AshSwap, [email protected]