DinoSwap is launching this week, on July 17. It’s just like PancakeSwap however on Polygon, the up-and-coming blockchain protocol with important consumer demand.
On DinoSwap, customers will be capable of stake the DINO token to earn the tokens of different tasks on Polygon.
It’s just like PancakeSwap, however customers stake DINO as an alternative to get publicity to Polygon-based tasks and their native tokens.
Launching Polygon Token Pairs on DinoSwap
The farms the place customers can earn tokens by staking DINO are referred to as Fossil Farms.
The primary Fossil Farms which can be launching on DinoSwap are Bella Protocol, Dfyn Community, Benchmark Protocol, Aavegotchi, SportX, and Chain Guardians.
Just lately, after the Axie Infinity (AXS) rally, the demand for NFT and metaverse tasks has surged quickly.
When DinoSwap first launches, customers will be capable of stake DINO and earn Chain Guardians, SportX, and Aavegotchi, all of that are metaverse tokens.
Aavegotchi, for instance, has risen by greater than 20% previously 24 hours, attaining a valuation of over $47 million.
It’s an NFT sport with characters primarily based on Aave, the most important lending protocol that operates on each Ethereum and Polygon.
For DeFi yield farmers, DinoSwap is engaging as a result of on prime of comparatively excessive yields, Polygon makes transactions low cost.
When customers farm inside DeFi by staking their tokens, they typically must provoke three transactions: stake, unstake, and ship output transaction.
When the blockchain is clogged or busy, particularly on Ethereum, these transactions may price upwards of $500 to $1,000 altogether.
Polygon eases the farming expertise with excessive throughput and a big transaction capability.
“DinoSwap is a cross-chain infrastructure platform that builds liquidity for layer-one blockchains, AMMs and partnering tasks. We’re proud to name Polygon our house base as a result of we can have velociraptor quick and prehistorically low cost transactions for farmers!” the DinoSwap crew stated.
DinoSwap additionally advantages your entire Polygon ecosystem as a result of it serves because the entry level to the group.
By turning into the central level for farming main DeFi tasks, it serves three key functions.
First, customers will be capable of simply see yield on Polygon fairly simply on one platform.
Second, customers will be capable of achieve entry to numerous Polygon-based tokens on a single platform.
Third, by introducing a DEX router, it additionally permits customers to swap tokens immediately on DinoSwap.
“Yield Farmers will quickly enter the thrilling world of DinoSwap the place they are going to earn DINO and different undertaking tokens, whereas contributing to the expansion of the broader Polygon ecosystem,” the crew added.