- TimechainSwap, a distributor exchange aggregator, has introduced new features on its DEX.
- These new features include liquidity pools, farming yield, and staking.
- TimechainSwap aggregates on Binance Smart Chain, Fantom, and Ethereum blockchains.
TimechainSwap, a distributed exchange aggregator, has introduced automated market maker (AMM) liquidity pools, farming yield, and staking function on its decentralized exchange (DEX).
TimechainSwap uses DEX aggregation on blockchain networks like Binance Smart Chain, Fantom, and Ethereum. By this process, users can get the swapping routes in each integrated platform.
According to information sent to CoinQuora, the company is attempting to extract DeFi attributes by building its own DEX platform to supply liquidity for its native token and advance other tokens that wish to power its infrastructure.
Existing liquidity pools, namely TCS/USDC, TCS/FTM, TCS/DAI, FTM/DAI, and FTM/USDC, will hype up users to provide liquidity to DEX. This, in turn, rewards them with trade-generated fees on the platform. Moreover, the users can get additional returns in the form of LP tokens that can be deposited in farming pools. Each trade will carry a 0.3% fee: 0.2% will return to liquidity providers while the remaining 0.1% will go to Timechain’s TCS Buyback program.
To adjoin liquidity to available pools, users can impart the equal value of two token pairs and receive LP tokens representing their share of the liquidity pool.
With the yield farming feature of TimechainSwap, liquidity providers can earn rewards in TCS by depositing LP tokens into liquidity farms. This feature is designed to simulate users in providing liquidity to TimechainSwap and balance risks relate to impermanent loss.
The liquidity providers can earn a share of 20,000 TCS in a month based on rewards in farming smart contracts. Despite this, additional rewards will be exercised via APY-boosting promotional events and the TCS Buyback program.
TCS/USDC, TCS/FTM, and FTM/USDC are the available liquidity farms in the exchange.
The staking feature of TimechainSwap will provide users to stake their TCS into TCS Single Asset Staking Pool (NASDAQ:POOL) (SSP) and get TCS rewards over time. Following this, stakers will get xTCS tokens of the SSP share they own.