Timechain DEX Introduces Liquidity Pools & Farming Features on Its Automated Market Maker (AMM)
January 24 2022 - 11:32AM
NEWSBTC
Decentralized financial ecosystem, Timechain announced the launch
of new features to its decentralized exchange (DEX), this Monday,
bringing the world of decentralized finance (DeFi) to its users.
The new DeFi features include staking, liquidity pools, yield
farming, and permissionless lending and borrowing. Additionally,
users will be able to swap thousands of cryptocurrencies on
multiple blockchains including assets on Binance Smart Chain,
Ethereum, and Fantom ecosystems. Since the start of 2020, the DeFi
ecosystem has soared exponentially in value as developers
introduced new ways for users to make their capital work. In 2021,
the industry further blossomed as Layer 1 scalability solutions
such as Solana and Layer 2 solutions including Polygon, Fantom, and
Avalanche were built on Etherum, reducing the gas costs and
transaction times greatly. According to DeFi Pulse data, the total
locked value (TVL) DeFi ecosystem has grown from $10.5 billion in
January 2020 to a high of $112 billion in November 2021,
representing almost 10X growth during the period. One of the
leading applications of DeFi supporting the gargantuan growth is
the rise of automated market makers, or AMMs. They allow investors
and token holders to use their tokens to provide liquidity, earn
returns and concurrently increase demand for the native token
exchange. The latest upgrades on Timechain’s DEX are set to improve
the efficiency of its AMM while offering an industry-spread
aggregator to enable users to find the best and cheapest swapping
routes across all integrated platforms. As mentioned above, the DEX
also introduced AMM liquidity pools, staking functionalities,
peer-to-peer lending & borrowing services, and yield farming.
These services provide liquidity to the platform, support its
native utility token, $TCS, and promote other tokens that wish to
leverage its infrastructure. Timechain’s new liquidity pools will
also offer users who stake on the platform rewards, paid out in
$TCS, from the fees generated by trades on the platform. The base
trading fee of 0.3% will be applied to each trade, with 0.2%
returned to liquidity providers and 0.1% going to Timechain’s TCS
Buyback program. To add liquidity to the liquidity pools, users
will need to provide an equal value of the two tokens within the
pair, for instance, on the TCS/FTM pool, you will need to provide
50% TCS and 50% FTM, of the value you have. You’ll then receive LP
tokens that represent your share of the pool, These LP tokens then
generate rewards, proportionally to the trade fees generated.
Available liquidity pools at launch include TCS/FTM, TCS/USDC,
TCS/DAI, FTM/USDC and FTM/DAI. Furthermore, these LP tokens can
also be deposited on yield liquidity farms to earn additional
rewards in $TCS. The liquidity farms are designed to
incentivize users to provide liquidity to TimechainSwap and offset
the risk of impermanent loss. Users will be able to harvest their
rewards at any time. Finally, with the DeFi ecosystem
revolutionizing the finance industry, platforms in the industry are
continuously innovating to give users the best possible rates and
utility for providing liquidity. Timechain swap staking feature,
will give users a way to stake their $TCS into the $TCS single
asset staking pool (SSP) and earn $xTCS rewards over time. This
means you will earn rewards by staking your rewards!
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