Niubiswap to introduce a Hongbao Special Pool
Hongbao is very popular in China and many Asian countries, therefore, this is meant to attract users and bring a sense of community and belonging. Niubiswap has created a Hongbao Special pool that will run for a limited duration. On this HongBao Special pool, the platform will be rewarding NIU token holders with 100 BNB/DOT/ATOM. Once this number of tokens has been awarded to users of the platform or limited time of 30 days is complete this pool will end. Our Hongbao Special will start on block 6205000. Don't miss out on the great opportunity!
In many yield farming protocols, users stake different tokens for a chance to earn rewards in the native token. This is not the case for Niubiswap. Here, users will stake NIU, the native token for a chance to earn rewards in listed tokens such as BNB, DOT, or ATOM.
This mechanism adopted by Niubiswap aims to enable NIU to create utility by farming BEP-20 tokens. Users are motivated to earn, hold and stake more NIU for a chance to earn these BEP-20 tokens, creating demand for the native token.
This Hongbao Special pool has been planned for and tested over and over on the testnet to make sure it will run smoothly. It is confirmed that the Hongbao Special is working and will therefore be launched in coming days.
The plans for this Special is to bring in yield farming partners to collaborate with in future, both up and coming and established ones. The DeFi space keeps growing and it is important to have more collaborations instead of focusing on competition in order to grow and support users. Voters will have an opportunity to decide the partnerships Niubiswap can be involved in depending on their votes on the platform.
For instance, holders can stake NIU to receive CAKE on Niubiswap while on Pancakeswap they stake CAKE to receive NIU. Therefore, the partnerships will allow users of different protocols an opportunity to earn NIU by staking native tokens. The more the partnerships Niubiswap is involved in the more tokens users can earn by staking NIU.
Currently, there are not many tokens listed on Niubiswap. The options available in future for BEP-20 tokens are totally dependent on the Niubiswap community. They have voting power and will influence decisions on the BEP-20 tokens to be listed.
Benefits of the Hongbao Special
Niubiswap has been created by and for the Asian community. Therefore, a Hongbao Special pool is a good starting point to bring the community in and allow them an opportunity to earn and win rewards for being a part of the platform. By rewarding users, the platform will attract more holders of NIU, who will greatly affect the token and its standing in the cryptocurrency market.
The pool is meant to attract more users to Niubiswap, which is a relatively new platform. Although Niubiswap is very exceptional, it will create a buzz in the market, which should make more people aware and eager enough to check it out. This is a way for Niubiswap to give back to its community of users as well as welcome new users in a fun and equally entertaining manner.
This is one of the many projects in the pipeline for Niubiswap. The community should expect more of these, as well as more partnerships that will not only impact the platform, but the DeFi space in general.
