Launching Whey Farms on Polygon!
The much awaited launch of Centaur Swap (CS) on Polygon will be live on 28 August! With the launch, traders can look forward to benefiting from transactions that are simultaneously more affordable and expedient.
As the first automated market maker (AMM) with single-sided liquidity pools, Centaur believes that the robust scalability provided by Polygon will optimally facilitate the expansion of its decentralised exchange.
For reference, in a traditional AMM, a 100% move in either of the tokens could result in an approximate 5% loss. This should not be taken lightly as volatility tends to wipe out most or all of the trading fees earned. The result would be a loss of opportunity cost, the erosion in time value of money and an impermanent loss.
While forks of major DEXes on Ethereum reduce friction when users switch protocols, the novel idea of Centaur Swap will bring about more accurate pricing on DEXes for traders and improve the liquidity for the AMM ecosystem with no risk of impermanent losses.
WHEY Farming Launch Program
For induction into the wonders of Centaur Swap single-side liquidity provision, our liquidity mining launch will have a promotional rate for the first 24 hours, when rewards will be quintupled. You do not need to deposit a pair of tokens to participate in farms or earn transaction fees on Centaur Swap.
The farms will distribute WHEY, the governance token of Centaur Swap which will allow holders to vote on decisions relating to the platform in future. These would include the onboarding of protocols, listing of new pools and platform transaction fees. The farms will be launched a few hours after the deployment of the liquidity pools to encourage a fair-launch structure.
To participate in the WHEY farms, stake your DAI, USDT or MATIC into the CS-pools and receive LP tokens in return. These LP tokens will be redeemable for the equivalent amount of tokens staked or more, due to the inclusion of transaction fees. In other words, these are interest-bearing LP tokens! Our farms will also provide rewards for staking WHEY or the WHEY/MATIC LP tokens from the QuickSwap pool.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
By combining the best elements of decentralised finance with measured regulatory control, Centaur is bridging DeFi and traditional finance. For more information, please visit our website, join our Telegram community discussion group and announcement channel.