Niubiswap is excited to announce to its growing sea of users some amazing new additions to the platform. The first is the new staking method HongBao Pool Special that is expected to be a game changer in the crypto space. In many proof-of-stake blockchains, users stake different tokens for a chance to be rewarded with the native token. But, for Niubiswap, users will stake NIU for a receive to win BNB / DOT / ADA. How amazing is that?
Niubiswap’s mechanism aims to enable NIU, the native token, to create utility by farming or gaining BEP-20 tokens. Users will be motivated to earn, hold and stake more NIU individually or in liquidity pools for a chance to be rewarded BNB and other BEP-20 tokens.
Niubiswap is also premiering its Launchpad, a platform for other DeFi and yield farming protocols to launch their tokens. The Launchpad is specially created to serve as an Asian community yield farming generator. This means that it will provide an opportunity for Asian-created yield farming protocols to launch to the market. The Launchpad will be embedded with NIU token utility, pairs, pools, and starting liquidity to ensure that the projects have all that is needed before they are formerly introduced to the market.
Staking and Yield Farming at Niubiswap
What Is Staking
Staking is the practice of holding or locking one’s funds in a crypto wallet so as to be part of maintaining the operations and security of a proof-of-stake (PoS) blockchain. While Bitcoin, a proof-of-work blockchain has mining, PoS blockchains have staking.
Staking enables a blockchain to achieve consensus while rewarding those users who participate. Users stake their coins to be validators of transactions. The right to be chosen to validate a transaction is correlated with the amount of tokens locked in a wallet. Blockchains often reward stakers in different ways depending on each protocol.
What Is Yield Farming
Yield farming is almost similar to staking but it involves liquidity providers who add their funds in liquidity pools. Yield farming is a form of staking or lending your cryptocurrency assets to acheive high rewards via other forms of cryptocurrency assets.
Yield farms’ high annual percetage yield (APY) is a big driver to attract liquidity prodivders (LP) to stake their cryptocurrency assets in a smart contact based Liquidity pool. As more invsestors add to the liquidty pool, the higher the reward.
Therefore, each pool has its reward process, meaning that liquidity providers can easily move from one pool to another in search of high yields.
HongBao Pool Special (coming soon)
Niubiswap’s mechanism is different and deemed a game changer in the market. It aims to enable NIU, the native token, to create utility by farming or gaining BEP-20 tokens. Users will be motivated to earn, hold and stake more NIU individually or in liquidity pools for a chance to be rewarded BNB in Niubiswap new HongBao Pool Special. By staking NIU, stakeholders will be rewarded with investment fund using a dividend method. Their earnings will therefore increase depending on the value of their stake.
The rewards, which are in form of other tokens, can further be swapped for NIU, which can be further staked. The BEP-20 tokens that are used to reward users on the platform are referred to as Hongbao. Hongbao is a red envelope in Chinese that represents a popular form of gift in important festivals or celebrations.
The staking and yield farming mechanism adopted by Niubiswap allows and encourages users to keep the circulation of NIU on the blockchain, providing endless liquidity as well as utility for the token.
The Launchpad Benefits (coming soon)
There are thousands of projects launching in the cryptocurrency space everyday. There are many of these that are in the DeFi market, a relatively new and rapidly growing space. The chances of these new projects being discovered and attracting users is limited especially based on their founding team, the platform they are launching on, and amount of funds invested.
The Asian community has had a huge impact on the cryptocurrency space, but is limited when it comes to raising funds and marketing new projects to the market. Without an experienced and successful brand to back most of these projects, it is hard for small projects to make any impact in the market, regardless of the solution they offer.
Niubiswap is committed to creating a platform where new DeFi and yield farming protocols can launch their projects and grow their ventures. The Launchpad will offer blockchain strategy and consulting to allow the projects to be well positioned to handle the competitors in the market.
The Launchpad will also allow the projects a choice in the token they wish to incorporate in their protocol. Being a BEP-20 token, it will be possible for different tokens to be supported on different protocols. Additionally, it will be a chance for NIU to be adopted and used by more protocols who will launch on Niubiswap, creating utility. All the utilities are great opportunities for us to also burn 50% of NIU generated from the launchpad to reduce the supply in circulation
Niubiswap aims at creating both investor and company confidence by conducting security and smart contract tests. Many projects that are launching have the risk of bugs and weak codes that can be easily hacked into, leading to loss of investor funds and further creating trust issues in the crypto space. It is of paramount importance that all projects on the Launchpad are highly stable and reliable, such that the community’s trust is built with every successful project.
Niubiswap’s Launchpad will allow users to vote on the projects to be marketed and launched on the platform. Also projects will gain access to the Asian yield farming market, an opportunity to increase its users and offer its solution.
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Niubiswap is a DEX committed to expanding, innovation and creating products that serve it’s users. Therefore, these are not the only innovative additions in the pipeline. The team is working to ensure it’s users have a platform that supports all their needs and that yield farming protocols that launch there have the best the market has to offer.
All future announcements will be announced on all major social media channels and Niubiswap’s website. You can join these channels to be updated and be part of this ground breaking platform.
