FairySwap, the First DEX on the Findora Blockchain, Launches on Mainnet
March 18, 2022 – California City, California
With liquidity mining and bridge integration in place, FairySwap is ready to go live.
FairySwap is announcing a full-featured mainnet launch that includes support for new trading pools, yield farming and a cross-chain bridge to BNB Chain (formerly Binance Smart Chain). Starting on March 20, 2022, at 0:00 UTC, users will be able to farm FAIRY tokens on the DEX.
Specialized genesis mining and fairy farms
To boost initial liquidity pools and the total value locked (TVL) on the protocol and guarantee long-term sustainability, FairySwap has set up three different types of yield farmsprotocol farms, community farms and staking farms. These farms will offer varying levels of rewards based on the number of participating addresses and the funds they stake, but the result of all these farms is high yield and low fees for early miners.
The first farms to be supported over the first week include the following.
- Protocol farms Fairy/FRA, Fairy/ETH, Fairy/BNB and Fairy/USDT
- Community farms FRA/ETH, FRA/BNB, FRA/USDT, FRA/BTCB, ETH/USDT and BNB/USDT
- Staking farms Fairy and FRA
Cross-chain bridge integration
FairySwap now supports integration with the Rialto Bridge which will allow farmers to migrate the supported assets listed above easily from BNB Smart Chain and participate in yield farming and trading on FairySwap. FairySwap is actively partnering with other DeFi protocols to set up trading pools for their governance tokens, thus increasing the TVL on their platform and options for traders.
#PriFithe next stage of DeFi
Decentralized finance (DeFi) has been a powerful disrupting force. DeFi seeks to automate the role traditionally played by banks, using smart contracts to automatically execute agreements and trades. DeFi relies on liquidity pools to power the trades on automated market makers.
DeFi thus allows users to enjoy the rewards traditionally reaped by banks, offering access to more efficient trading systems, and it has built a system that is permissionless, open to all people without discrimination, and that serves many who are underbanked.
Privacy Finance (‘PriFi’) is the next step in this revolution. It guards sensitive user data to protect users from exploits like miner extractable value and front-running and can even protect identifying information in database hacks.
FairySwap aims to build a system of programmable privacy to give users control of their own data and create a system of digital dignity.
FairySwap leverages cutting-edge cryptographic algorithms, including atomic swaps and anonymous transfers, for private trades and trading strategy protections. The first automated market maker (AMM) decentralized exchange (DEX) on the Findora Blockchain, FairySwap is a leader in privacy finance. It is minting zk-NFTs, the first NFTs on Findora, while building a metaverse environment for GameFi applications, called FairyVerse.
FairyDAO is a project incubator, dedicated to curating and launching innovative projects that will build Findora’s privacy ecosystem. Guided by the principles of decentralization, equal opportunity and diversity, FairyDAO is a decentralized, community-oriented, privacy-centric DeFi and metaverse ecosystem consisting of three initiativesFariySwap, FairyNFT and FairyVerse.
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