Is not everyday that you’ll find a blockchain initiative making history. Although, on December 6th, 2021, the Netswap team achieved exactly that by establishing their DEX in the Metis Andromeda network. Netswap became the first-ever native decentralized exchange for a Layer-2 network.
Early participants received two rounds of NETT token airdrops as a result of the Netswap Scoring Plan, with the Netswap team getting zero tokens throughout the fair launch. The team is certain that this decentralized and creative technique is both a terrific way to engage the community and a highly efficient method through which early token allocations can be distributed.
From Very Good to Outstanding
Netswap Liquidity Mining and the NETT Staking Plan have produced very good returns for liquidity providers and NETT holders. As if “very good” wasn’t enough, Netswap recently cut NETT’s emission rate, which could lead to a higher equilibrium point in terms of Supply and Demand (Higher price).
The Netswap DEX and the overall Metis ecosystem have seen significant TVL development, and a major milestone of $2 billion in trading volume was recently achieved as well.
The new Netswap Launchpad recently held its inaugural IDO event in collaboration with GameFi firm Metauce. Plans are being developed for even more interesting IDOs in the near future, as well as changes to the regulations, making the process more accessible to the whole Metis community. A strategic partnership with Relay Chain has also been formed. Additionally, the likes of BinaryDAO, Neptune and more are expected to join the 2x reward farm soon.
What are exactly these 2x reward farms? Simple: Netswap Farms that pay dual rewards to those who provide liquidity. By dual rewards, it means that the LP token provider will receive a certain percentage in 1 coin, and another percentage in another coin. In some cases, LP token providers even get a 3rd APY on top of the first 2: the 3rd APY being payed in LP tokens, therefore increasing the farmer’s position. These 2x reward farms are not limited to volatile currencies, but also provide an alternative for Stable Farms yielding up to 16%.
Collaboration is thus a key component of the roadmap. Netswap is excited to interact with the many high-quality dApps that are integrating with and growing on Andromeda. At any rate, it’s a win-win situation for Metis, Netswap, and all of these exciting new ventures.
