With the phenomenal growth of DeFi, decentralized exchanges are quickly becoming the predominant sources of token trading volume and liquidity. In fact, lending protocols and Automated Market Makers (AMMs) account for the considerable majority of total value locked across the entire ecosystem. And new technology is evolving at a rapid pace—like the MoonSwap AMM.
Launched in the summer of DeFi, MoonSwap uses a Conflux-based layer two solution to provide significantly lower transaction costs, cross-chain interoperability, and up to 6,000 transactions per second (TPS). Beyond its fun, crypto-inspired user interface design, MoonSwap technology has already powered millions of trades and has been formally audited by Slowmist.
Amp × MoonSwap
Amp is now live on MoonSwap via the cAMP-cETH trading pair, with $MOON liquidity mining incentives starting today, January 14, 2021 at 9:00 a.m. EST. Starting now, all users providing liquidity for the cAMP-cETH pool will not only earn transaction fees, but also ongoing $MOON utility tokens.
To participate:
- Create a Conflux wallet (using Firefox) and deposit your AMP and ETH assets to the Conflux contract;
- Provide liquidity and receive MoonSwap LP (MLP) tokens; and
- Stake your MLP tokens to the cAMP-cETH farm to start instantly mining $MOON.
Please make sure to read the Conflux deposit instructions for MoonSwap carefully and perform a test transaction to ensure that assets are correctly migrated to Conflux from Ethereum (assets can always be withdrawn from Conflux without restriction). Do not send any assets to your Conflux address directly—instead, use the deposit contract on MoonSwap associated with your address for any deposits.
Alternatively, use the ShuttleFlow protocol to migrate assets directly from Ethereum to Conflux (see detailed instructions on the Conflux forum).
While you’re on MoonSwap, be sure to check out the other MoonSwap LP farms, and look out for the upcoming MoonSwap iOS app! And don’t forget that AMP can also be found on Uniswap, Sushiswap, and Balancer as fully decentralized liquidity options. But please remember—when performing DeFi trades, always check to confirm that you are interacting with the official Amp token contract.
