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 known as Binance Smart Chain. Starting on March 20, at midnight UTC, users will be able to farm FAIRY tokens on the decentralized exchange (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 farms: protocol 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 are high yields and low fees for early miners.
The farms to be supported during the first week include:
- Protocol farms: FAIRY and Findora (FRA), FAIRY and Ether (ETH), FAIRY and BNB, and FAIRY and Tether (USDT)
- Community farms: FRA and ETH, FRA AND BNB, FRA and USDT, FRA and Bitcoin BEP2 (BTCB), ETH and USDT, and BNB and USDT
- Staking farms: FAIRY, FRA
Cross-chain bridge integration
FairySwap now supports integration with Rialto Bridge that will allow farmers to migrate the supported assets listed above easily from BNB Chain and participate in yield farming and trading on FairySwap. The platform is actively partnering with other decentralized fiance (DeFi) protocols to set up trading pools for its governance tokens, thus increasing the TVL on its platform and options for traders.
The idea of #PriFi: The next stage of DeFi
DeFi has been a powerful disrupting force and 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 of automated market makers (AMMs).
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 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 such as 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 AMM DEX on the Findora blockchain, FairySwap is a leader in PriFi. It is minting zero-knowledge nonfungible tokens (NFTs) — the first NFTs on Findora — while building a metaverse environment for GameFi applications called FairyVerse.