Cardaswap.finance On A Mission To Become The Uniswap Of The Cardano Blockchain

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London, Aug. 28, 2021 (GLOBE NEWSWIRE) – The Cardano blockchain ecosystem and its associated Utility token $ADA has gained so much popularity in the past few months, breaking it’s ATH in the past few days. This comes after successful rollout of Alonzo Purple and the upcoming Alonzo hard fork which will usher in the arrival of smart contracts for Cardano in September.

What is Cardaswap?

Cardaswap DEX will be an automated market maker on the Cardano Network. Its transaction and monetization features are based on the AMM protocol. The protocol allows blockchain participants to provide liquidity and Cardano Blockchain Assets in the Liquidity pool for others to exchange their native tokens. In return, subscribers pay a small fee for liquidity, and the vendors earn their deposit back.

Native Token Of Cardaswap

Cardaswap utility token $CADA is a native token that will be built initially on the Ethereum blockchain but will later get bridged to the Cardano Blockchain after the successful completion of the Alonzo Hard Fork.

Holders of $CADA can save money & pay less fees, stake their LP tokens to farm $CADA and also Stake $CADA for exclusive Airdrops while also being a native token that enables users to transact in multi-assets like ADA & other custom tokens.

It also gives the incentive of yield-farming of the Cardaswap governance token $CADA.

Yield Farming Program

“Yield farming” is a reward program introduced during the last year in the DeFi crypto world.

At its core, yield-farming is a new way of distributing tokens that have been minted for a DEFI project, even though all tokens are minted to the market, the distribution of the token is done through yield-farming which is more similar to “mining”, meaning that he output of tokens is regulated by smart contracts to gradually increase the circulating supply with time.

The vision and goals ahead

Cardaswap plans to launch their AMM exchange by the end of Q3 2021, making them the first Decentralized Exchange on the Cardano Blockchain after which it will start its listing process on exchanges like MXC, GATE, and Huobi.

Story continues

Cardaswap is also working on their NFT Marketplace of which by December, users will be able to mint and trade NFTs on Cardaswap NFT marketplace. Users who would want to test Cardaswap Exchange before its launch can visit their website cardaswap.finance and enroll for the TGE.

When launched, Cardaswap will allow users to trade tokens on the Cardano blockchain, earn swap fees, stake LP tokens to farm and earn $CADA, as well as access to the world’s first public NFT marketplace on Cardano Blockchain and Cardapad the first IDO launchpad on Cardano blockchain.

As the Cardano network continues to add functionalities to its blockchain, users can expect more innovative features on the Cardaswap protocol in addition to the fluidity in operation. This is something the average user will find quite helpful as they move away from the obsolete order-book arrangement that has kept centralized exchanges in the backseat.

About Cardaswap

CardaSwap is a decentralized exchange that is similar to Ethereum’s Uniswap, but the difference is that it will run on Cardano BlockChain instead. The cardaswap.finance ecosystem is managed and maintained by the Cardaswap Association, a Cayman Island-based entity.

When the cardaswap ecosystem grows sufficiently, the protocol will be governed and steered by a carefully designed decentralized autonomous organization (DAO). Cardaswap is one of the first decentralized Launchpad designed for the Cardano ecosystem.

Social links

Twitter: https://twitter.com/cardaswap

Medium: https://cardaswap.medium.com/

Telegram: https://cardaswap.finance/

Media contact

Company: Cardaswap

Contact Name: Cardaswap

E-mail: hello@cardaswap.finance

Website: https://cardaswap.finance/

The Rise of NFT-Based Yield Farming in Blockchain Gaming

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The Rise of NFT-Based Yield Farming in Blockchain Gaming

1,972 reads

@ haroonbaig Haroon Baig 👋 I write fluff-free & engaging content in crypto space, ECDSA to zk-SNARKs, Bitcoin to Polkadot, DeFi to NFTs 👨‍💻

DeFi is finally coming to the blockchain gaming space, which is good news for the pro gaming geeks! Now you can show your gaming skills, collect rewards as NFTs, and then stake those rewards within the gaming platform to earn yields.

How cool is that? 🤑

After art and music, NFT is going to disrupt the gaming industry. The blockchain-based gaming platforms are now using NFT gamification with Yield Farming to maximize the rewards for the players and keep them hooked.

We will be discussing some prominent DeFi gaming platforms here that are leveraging NFT gamification with Yield Farming. Let’s begin!

Bunicorn is an intense DeFi gaming platform that brings together DeFi and blockchain gaming to elevate the gaming experience to the next level. Bunicorn is revolutionizing yield farming by leveraging the NFT gamification. There has been a massive surge in NFT space, but most of the use cases for NFT were just representations of digital contents such as artworks, music, videos, or game items.

Bunicorn has introduced a new liquidity mining model where instead of distributing the farming reward directly to the users, these illiquid NFT tokens are wrapped into NFT collectibles.

The difference between the NFT collectibles in Bunicorn and other platforms is that it contains actual time-locked tokens similar to a bond or a vesting period. This prevents users from dumping their tokens immediately after acquiring them from the mining pool.

Users can convert NFT collectibles into the actual BUNI tokens after a vesting period. In the meantime, they can also trade/auction these NFT in other well-known marketplaces and make them liquid. If someone can’t wait till the vesting period, he can sell his NFT collectibles at a discount.

Bunicorn AMM DEX

Bunicorn also has a native AMM DEX that offers investors yield-earning opportunities through liquidity pools and liquidity farm mining with unique time-locked rewards wrapped into tradable NFTs. BUNI is the native utility token of the Bunicorn platform.

Users can earn BUNI tokens to get staking rewards by collecting a portion of the revenue from the swap fees on the Bunicorn AMM exchange. BUNI token holders can also participate in governance activities such as voting for the protocol upgrades.

Bunicorn’s first step towards NFT gamification

Bunicorn is launching Battle to Redeem Buniland’s Peace, a brand new play-to-earn game that will be launched at the end of August. It is a unique NFT game that opens the doors to the magnificent world of the Bunicorn universe.

The Bunicorn game is a Play to Earn NFT RPG inspired by Pokémon on the Binance Smart Chain network. Players may enter the battle using their trainers and Bunicorns to earn BUNI tokens. Assets are player-owned NFTs minted in the ERC-721 standard which may be traded on the marketplace.

Initially, water-element Bunicorn Eggs NFT first rewards will be hidden for stakers in the new staking farms. Later in the pipeline, Bunicorn will add new staking farms, and stakers will get Water-element Bunicorn Eggs NFT as rewards.

MOBOX capitalizes on the growing gaming market to ensure that users enjoy social gaming while earning an income. It is a unique NFT yield farming platform that features gaming in the DeFi space. This platform gives users an ultimate experience by giving them a combination of DeFi, gaming, and NFT.

MOBOX uses a unique infrastructure – incorporating NFT, DeFi and gaming while still giving users access to liquidity pools in farming an NFT. This helps users get the best yield strategies and generate unique NFT’s used across different games or chains. As a matter of fact, it is based on the Binance smart chain.

Within a week of being launched, about $5 million NFT’s were traded on the platform. The MOBOX platform was developed by a team of experienced elite members with deep experience in the gaming scene and the blockchain Dapp industry.

How MOBOX works

Users can use the Binance smart chain to deposit stable coins or choose from the eight incentivized LP pools. Smart contracts make it possible to do automatic compounding of the benefits. When users utilize the pools, they can access other chains. Chests that have unique NFTs get more rewards. A user needs to have one key to help them unlock a chest and get their NFT.

When you get the NFT’s, you can automatically stack them on the platform. When you stack them, you unlock the platform’s governance tokens, Mbox.

Every unique NFT has a mining power that helps its owner to get more rewards. The higher the uniqueness level, the more the mining power and thus the higher the pay.

The main aim of the MOBOX platform is to help users gain NFT interoperability between chains and games. NFTs can be shared across three blockchains: Ethereum, Tron, and BSc. Currently, MOBOX plans to launch three NFT games in 2021. With NFT gamification, users will be able to play and earn by using NFTs.

Zookeeper is also a yield farming DApp that is built on the Wanchain. The main goal of the developers is to make yield farming fun and profitable.

So far, it is possible to farm ZOO and WASP tokens simultaneously for higher APY rewards. Apart from high APY and dual farming, the leading game-changer that most people like about the platform is NFTs which is not something we can ignore.

Zookeeper NFTs have been created to be bound to the liquidity pool being farmed so that those farming it can get more rewards. Users can also lock the liquidity for a certain amount of time to get their target.

How Zookeeper works

There is a zoo that contains different liquidity pools with its own animal mascot from the name zookeeper. All the pools can give dual rewards ZOO and WASP though this is not permanent.

If you want to increase your APY rewards, you are obliged to have a WSLP, Wanswap Liquidity Provider tokens are usually issued by the Wanswap DApp. They give you liquidity into one of the farming pairs. Once you Have the tokens In your wallet, you can go into the zoo and choose the pair you want to farm. When you choose the pair you want to farm, you can select a locking period, which is a maximum of 180 days.

This is not the only path you can choose. You can also go on an expedition and look for a gold chest. Zoo tokens are required for the expedition. There are three different expeditions that you can choose from. To get to your destination, you are required to stake your tokens. The shorter the period of adventure, the more tokens you will have to stake.

The price you pay will depend on the cost of the gold chest, which changes from time to time. When you finish the expedition, you get your tokens back, In addition to the chest that will hide a mystery NFT booster.

If you do not feel like taking the adventure route, you can buy the chest instantly using Zoo tokens. You can either buy a gold or silver chest. Only in the gold chest can you find the NFT booster. The silver chest has a 10% chance of getting an NFT. Once you buy a chest, tokens used for purchase are burned.

Pulsar Farm is a yield farming DeFi game based on the Binance Smart Chain and Polygon. Since its launch, it has experienced an active buzz with up to $7 million locked in smart contracts in more than a thousand active wallets. Pulsar Farm has taken the market by storm as it combines yield farming with gamification while supporting NFTs.

There is the Pulse arena, where you can buy alien pets as NFTs and use them in a PvP (Player versus Player) game. The pet will level up when you get more wins. The reward you get depends on your winning streak; hence the more you win, the better the rewards. There is a leaderboard which, when you are at the top, you get extra BNT tokens.

The pet NFT you buy is the character you will use to participate in Pulsar Farm PvP games. Without NFT, it is impossible to access Bounty tokens, and thus, you cannot do yield farming. When you have Bounty hunter NFTs, you can access PvE games.

For the stability of the game ecosystem, all the proceeds from the NFT sales are burned. This means that NFTs are used as utility tokens and cannot bring revenue to Pulsar Farm.

The platform has an insurance model to protect the player’s investment. The Pulsar beta Game works to eliminate threats from whales and bots to beef up the platform’s security. When users buy NFTs in the first yield farm, they can access the pre-sale event. They will, in return, get Beta Pulsar tokens for the NFT and thus limit the chances of price dumping.

PvP vs. PvE

On Pulsar Farm, there is either PvP (player versus player) or PvE (player versus environment). PvE is the first stage. Here, you have to farm and earn a BPUL token. With the token, you will access a pet that will be used in the game. Once you win a PvE, you get BNT tokens that will enable one to participate in the Pulsearena, which is mostly PvP.

In PvP, a player has to pay an entrance fee in BNT, which will be later used for rewards. The winner gets 50% of the entrance fee and the opponent’s BNT fee. The rest of the money is distributed across the leaderboard scorers' rewards pools. When you lose the game, there is a 0.5 probability your pet will survive.

The BASED protocol is a chicken DeFi game designed to rule out the weak and give high yields to those who follow the rules. Users can enjoy the game while still earning good returns from yield farming. The rewards they get from the game are what they use in yield farming to multiply their returns.

A combination makes the platform of Ampleforth’s economic policy with Yearn Finance’s distribution mechanism. That makes it a post-modern economic game made in such a way that it resets continually. All game participants enjoy a fair barrier of entry and balance.

$BASED tokens

The platform is run by a BASED token and a set of rules that govern the operations. The BASED protocol has been made to adjust the BASED token supply every 24 hours so that 1 BASED is 1 sUSD. That ensures that the demand increases with the supply of the tokens. A rebase will always happen when there is a difference of more than 5% between sUSD and BASED.

A user can only participate in yield farming once they reach a certain target of the BASED token. When you hit 100 BASED tokens worth 150 sUSD at the end of a rebase event, you can take advantage of future price movements.

The longer you stack your tokens, the better your future yields will be. If you want to make the most from yield farming, you have to consider both the price and supply and strategize accordingly.

NFT Yield Farming is here, are you excited? Happy yield farming!

Over and out!

Haroon

This article is part of The Gaming Metaverse Writing Contest hosted by HackerNoon in partnership with The Sandbox.

Submit your #gaming-metaverse story today for your chance to win up to $2000.

@ haroonbaig 👋 I write fluff-free & engaging content in crypto space, ECDSA to zk-SNARKs, Bitcoin to Polkadot, DeFi to NFTs 👨‍💻 by Haroon Baig Get in touch!

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Watch: Spanish Police Bust a Suspected 111-rig Crypto Mining ‘Farm’

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Source: Screenshot, Policía Nacional, Twitter

Spanish police have captured a raid on a suspected illegal underground crypto mining facility on video – breaking into a private house that was allegedly housing over 100 functioning mining rigs.

In a video shared by the National Police, officers were shown battering down a door and piling into a property in a residential area of Toledo’s Yeles municipality – a sleepy suburb with just over 3,000 inhabitants.

#Así desmantelamos una granja ilegal de minería de #criptomonedas en un chalet de #Toledo — Policía Nacional (@policia)

According to El Mundo, officers were called in to investigate after they had been informed that the house in question had been using up an abnormally high amount of electricity, with sky-high thermal emissions – totally out of line with the consumption and emissions of a typical family home.

In the video, one officer is shown attempting to batter a door open using a heavy ramming device – before another, brawnier individual takes over, finally forcing the door open. A number of armored police officers then move into the house.

Police in such situations are typically charged with breaking into houses to bust drug dealers, the media outlet reported. But instead of narcotics, they were instead confronted with a “tangle of computer equipment.”

Later in the video, police officials are shown examining the still-functioning mining rigs and the cooling equipment used to stop the units from overheating.

Summer temperatures in Toledo typically rise up to the mid-30s in degrees Celsius. However, Spain has been in the grips of a savage heatwave in recent weeks, with mercury levels rising to the mid-40s in some parts of the country. This summer, Toledo temperatures have regularly hit the late 30s, presumably putting an enormous strain on the mining “farm” and its cooling equipment.

Police said that a woman is being investigated for suspected crimes relating to energy theft from the local grid.

Police claimed that the “mine” was fitted with “111 [mining units] and sophisticated air conditioning systems to prevent the temperature from rising” to dangerous levels.

The police did not specify which tokens were being mined, but added that “coins are regularly used as a means of payment in illicit activities linked to high-tech crimes and money laundering.”

The officers concluded:

“Our investigation is continuing as we look to fully clarify the facts in this case.”

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