With the Multi-token mining feature, users can start to farm and harvest two types of tokens instead of only a single token.
What is the Multi-Token Mining feature?
YouSwap – a multi-chain mining DEX, is proud to announce that they have launched their United Farming Zone in their liquidity pools on 1st June 2021. For users who provide liquidity, instead of mining $YOU tokens as rewards, the YouSwap Team has been working hard behind the scenes to develop a joint mining feature where liquidity providers are able to harvest both $YOU tokens and other tokens such as those provided by partners.
Chains that support Multi-Token Mining
Currently, YouSwap is integrated onto 3 different chains – Heco – HRC20, Binance – BEP20 and Ethereum – ERC20. As the United Farming Zone is still a new feature, it is currently only supported on the BSC and HECO chains of YouSwap. YouSwap has also released the plans of their June Roadmap to launch the feature onto more chains very soon.
How to Participate?
Detailed instructions are provided in YouSwap’s medium article for users on how to swap, stake and harvest tokens. But instead of going to the Mainstream or Innovation zones, click on United Farm to see the liquidity pools that are currently available.
Currently, YouSwap only has one trading pair available as shown above – KALM/USDT with a whopping 300+% Annual Percentage Yield (APY). Be sure to follow YouSwap’s Twitter and Facebook pages for future updates on Multi token Mining Trading Pairs that will be listed on United Farm Zone.
If you are interested in mining KALM/USDT to get $KALM and $YOU, do check out YouSwap’s medium article for instructions.
What does this mean for the future of Yield Farming and Liquidity Pool Mining?
Mining or Yield Farming has been increasingly accessible for the public, allowing everyone to mine tokens. Although the technology exists, it is still very much in the infancy stages, allowing for many innovations and improvements. Currently, most DEXs or yield farming platforms are designed to only allow users to farm and harvest a single token at a time, usually yielding the native token of the DEX or liquidity pool creator. LP providers then need to swap the farmed token to their ideal form. This limitation increases the time spent for users to mine or harvest multiple tokens, incurring opportunity cost, transaction fees, and gas fees. Thus, YouSwap’s Multi-Token Mining feature allows users to farm and harvest 2 types of tokens at once – providing an additional hedge against token price fluctuations and saving on fees in the process!
By launching the Multi-Token Mining feature, YouSwap becomes one of the pioneers to accelerate the crypto industry through effectiveness and convenience. It still remains to be seen if other DEXs will adopt a similar feature like the Multi-Token Mining in the coming months. Looking at the trends and developments, surely this feature will eventually be implemented across all DEXs.
While most DeFi platforms usually place emphasis on Project Parties to providing liquidity and users using tokens to mine the DEX’s own tokens, YouSwap’s longterm goal is to better the DeFi landscape by creating products that suit every user’s needs. YouSwap welcomes collaboration with Project Parties in the United Farm zone, opening doors to variety and rewards to the community.
Other features launching in June 2021
Other than the launch of YouSwap’s Multi-Token Mining feature, there are several other exciting plans for June coming soon. There are four notable milestones that you should be keeping track on:
- CoinStarter – IDO with YouSwap
Intending for users to launch Cryptocurrencies easily, YouSwap will be working with CoinStarter to implement a One-click IDO project on the platform.
- DAO Governance
YouSwap believes that their community is the key to success and growth in the crypto world. As such, they will be passing the decision-making rights to their existing community, working together to build a platform that’s truly for you.
- NFT Platform
On their way to becoming an all-in-one DEX, YouSwap will be adding a feature that allows Non-Fungible Tokens (NFT) to be traded on the YouSwap platform.
- Smart Mining
YouSwap’s Smart Mining technology makes use of information, autonomy and advances in cryptotech to enhance user’s safety, reducing operational costs and increase productivity on YouSwap. This feature is expected to increase the yield returns and a smooth user experience.
Borderless, open and free. YouSwap is an early-stage All-Eco DeFi platform built on multiple public blockchains. We stand by constant innovation to provide you with the best trading experience as your personal decentralised digital assets platform. As a DEX that optimises the AMM model, we have integrated resources for liquidity and swap pricing. Ultimately increasing our exchange speed and innovate the token economy model. Our deployed technology intends to solve the current issues faced by users within the industry, giving you low gas fees, high percentage yield and no transaction fee. Creating a decentralised exchange that is truly yours.
Follow us on the official channels below :
- Twitter: YouSwap_Global
- Telegram: YouSwapGlobalOfficial
- Medium: YouSwap-Global
- Platform: www.youswap.com
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