Mint NFTs and earn $YOU through DAO pool staking at YouSwap
NFTs are once again making waves in the market, this time due to Axie Infinity, an NFT collectable-game on Ethereum, has been successfully adapted by the wider public. Axie Infinity’s revenue has reached 12.52 million USD in the last 7 days since July, exceeding June’s monthly revenue of 12 million USD. Axie Infinity derives revenue mainly from a 4.25% commission from market transactions. Statistics from CryptoSlam, an NFT collection survey website, shows that Axie Infinity’s revenue in the past week substantially exceeded the total revenue of five DeFi apps, namely MetaMask, PancakeSwap, Synthetix, MakerDAO and Curve. NFTs’ popularity has resurged, following the minting of NBA star cards, Twitter CEO’s first tweet NFT auction, New York Times publishing cover, with established companies like Porsche entering the NFT market, and Alipay launching NFT services. Clearly, NFTs are finding their place in the blockchain ecosystem. NFTs can be combined with liquidity mining for different uses and diversify mining yields. NFTs can also be traded directly on de-centralised exchanges (DEX). As a brand-new digital asset, NFTs are able to add value to the ecology of DEXs.
YouSwap, a new DEX, has been at the forefront of product innovation, and has successively introduced five mining modes since its launch three months ago:
- Single-token mining
- Liquidity pool mining
- Trade mining
- Multi-token mining from single staking pool
- Invite mining
By partnering dApps such as Coinlaunch’s 1-click ICO, Coinstarter’s one-click ISO, building a multi-chain deployment, and cross-chain bridge swap, YouSwap is building up several useful functions.
On the NFT front, YouSwap has made good progress, and recently launched a new mode of NFT DAO pool. Users can participate in lock-up staking in DAO pool to obtain higher yield with NFTs. An NFT will be minted and given to the user according to the lock-up volume. YouSwap’s NFTs are generally divided into four grades. Each grade has their special benefits, such as preferential participation in ISO, access to pool airdrop, etc. The highest grade of YouSwap’s NFT mints special serial numbers and customized service. With the market interest in NFTs and advantageous mining yields, YouSwap’s NFT DAO Pool looks forward to initiate a new mining boom.
How to use YouSwap’s lock-up staking functions?
YouSwap has since launched the NFT DAO pool on July 9th, a new function developed by YouSwap to enhance $YOU application scenarios. The NFT DAO mining pool yields profit by locking up $YOU tokens for 30 days. Users can also obtain multi-token mining yields by staking $YOU in the NFT DAO pool. Based on the lock-up volume, an NFT will be granted. YouSwap’s NFTs are divided into four grades, and NFTs of the highest grade mints special serial numbers and customized service. These NFTs are entitled to the following benefits:
(a) ISO participation priority
(b) Participation in Syrup Pools
(d) Lock-up yield
(e) Highest NFT privilege (good serial number + customized 20-character declaration)
(f) Pool skin, airdrop, etc.
What are the advantages of YouSwap’s lock-up staking?
1-click staking lock-up and triple benefits: Ultra-high mining yield + one-click reinvestment + NFT collection value
APY is expected to reach 300%-500% (depending on the user’s lock-up volume)
To put it simply, NFTs of different grades will be generated according to the lock-up volume of $YOUs. Each NFT has a fixed “face value” that is entitled to acquire mining yields. Each NFT can be minted many times and transferred. Do note that the transferring of NFTs would mean that the owner of the $YOUs staked in the DAO pool would be changed as well. If the locked volume of the $YOUs in each grade is less than the minimum lock-up volume, the total volume will be redeemed or claimed by default, and the NFT will be burned when it approaches the end of the contract – this is similar to UniSwap V3’s LP tokens – NFT functions. Users who contribution larger amounts (corresponding to longer periods) to YouSwap’s DAO lock-up volume, will be granted NFTs with more rewards.
Users can conduct mining by locking $YOUs in the DAO Pool. Redemption can only be made after 30 days, while complying to the rules. If the rules are violated, a withdrawal penalty will be imposed. Users can claim the yield at any time or reinvest the yield with a single click. For example: User A has deposited 100 $YOUs with a withdrawal penalty rate of 2%. Regardless of the duration the $YOUs have been deposited, User A will be subjected to a 30-day countdown if User A wishes to redeem 100 $YOUs. If the 100 $YOUs are claimed within the 30-day countdown, a 2% penalty will be imposed, and the remaining 98 $YOUs can be claimed. If the 100 $YOUs are claimed after the 30-day countdown, no withdrawal penalty will be imposed. The purpose of setting a withdrawal period is to reduce speculative users and encourage loyalty from the lock-up users. The initial mining yield upon launch of the lock-up staking is expected to be 300%-500%. Coupled with the incredible benefits of NFTs, users who participate in YouSwap’s lock-up staking can easily obtain a substantial yield.
Apart from the high APY, what else can users obtain from NFTs?
NFTs are divided into four grades, and the highest grade of NFTs are entitled to customized services.
(1) NFTs can be generated multiple times with transferability
(2) If the lock-up volume of each grade is less than the minimum volume, the total volume will be redeemed or claimed by default, and the NFTs will be burned when it approaches the end of the contract
YouSwap’s lock-up staking grants NFTs corresponding benefits and combines with the mechanism of DAO pool lock-up to enrich the operation modes of liquidity mining, increases the enthusiasm of users which encourages them to participate in mining, and allows users who lock up $YOUs get good returns and diverse benefits. The NFT DAO pool will greatly reduce the supply of YOU and increase YOU mining. With YOUSwap’s iterative updates of new functions, $YOU will become increasingly scarce, and its value will gradually increase.
The NFT DAO pool will be YouSwap’s first (but not the only) attempt in the NFT sector. YouSwap will provide all-rounded services in the circulation, sale and purchase of NFT, lending with NFT as collateral, and NFT mining, to actively bring NFT into the DEX field, thus creating benefits for YouSwap users by providing rich and diverse experiences.
What is YouSwap?
Headquartered in Singapore, YouSwap is a new generation of on-chain DEX developed by an international blockchain geek team. YouSwap realizes multi-chain sharing of crypto-assets by constructing a multi-chain deployment system, optimizes the AMM model by the price-feeding mechanism of Oracle, simultaneously meets the swap requirements for optimal price and low slippage with the multi-chain aggregation trading function, and adopts the Layer 2 scalability solution of ZK Rollup in the early stage with respect to the extension of public chain performance. Compared with other decentralized exchanges, YouSwap has many advantages, such as high fund utilization, low slippage, reduced exposure to impermanent losses, instant trading, low gas fee and so on.
At the initial stage of its launch, YouSwap launched the function of trade mining on the HECO chain. The extremely fast trading speed and exceptionally low fees of the HECO chain has driven users’ trading enthusiasm, and also boosted the price of $YOU tokens. The subscription price of $YOU ISO was 0.1USDT, which quickly rose to 1.2USDT after it was launched on the HECO chain, an increase of more than 1200%. On the HECO chain, $YOU has 23,000 token-holding addresses.
Without losing steam, YouSwap went live on Binance Smart Chain, and launched the cross-chain bridge swap function among ETH, HECO, and BSC. With this, users no longer need to swap tokens of different public chains through centralized exchanges, and can easily swap cryptocurrencies with low fees without any risk.
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