In the previous article, we have been introduced to the basic definitions, operation mechanism and inspiration of DRK Swap — one of the strategic products of DRK.
In this article, we introduce to the community DRK Swap Yield Farming and the release of DSWAP — Token backed by DRK Swap. These new products are promised to bring huge development and project expansion potential.
DRK Swap Yield Farming
Yield Farming is a concept in DeFi, emerging strongly in 2020 and is one of the reasons that created the DeFi capitalization upsurge from 500 million dollars to 10 billion dollars. DRK Swap Yield Farming is built on that inspiration and primarily applied primarily to the distribution of core tokens in the DRK’s ecosystem.
In simpler terms, yield farming protocols incentivize liquidity providers (LP) to stake or lock up their crypto assets in a smart contract-based liquidity pool. In addition to benefiting from the share of transaction fees from swapping tokens, liquidity providers are also entitled to participate in farming and making profits from the distribution of mainstream tokens in the DRK ecosystem or tokens from 3rd party developers in the future.
Farm now: https://draken.exchange/drk-farm
The release of the first Yields
With the launch of the DSWAP token and DRK Swap Yield Farming, we have provided the community the first yield farming in the distribution of the DSWAP token, including: DRD-DRK, DRK-DSWAP and DRK-USDT
Users are required to join corresponding liquidity pools to LP Token, from which they can start harvesting DSWAP Token through Yield Farming. The total distributed DSWAP in each yield will be fixed with the remaining balance to be updated every 10 minutes. Users can calculate the profit margin through each individual’s shared percentage of the liquidity pool or based on the APY reference index outlined in Yield. Joining and withdrawing will not have any constraints on the participant, the operation is almost instantaneous.
DRD-DRK Liquidity Pool’s Contract: https://explorer.draken.tech/address/0x6750CC7acf5EcC0A726C028fA18F67F650Bd0Cf6/transactions
DRK-DSWAP Liquidity Pool’s Contract: https://explorer.draken.tech/address/0xD29908A6b6705D76A02abE9Ac7B390b66100EF85/transactions
DRK-USDT Liquidity Pool’s Contract: https://explorer.draken.tech/address/0x0112eD5755171583ee659a839d66B092A2Cd2A68/transactions
DSWAP is a token backed by DRK Swap, one of the core tokens in the DeFi ecosystem developed by Draken Team. DSWAP is built on DRK Chain and inherits all of its strengths in performance, security and decentralization. Especially, DSWAP will be distributed solely through DRK Swap Yield Farming, thus achieving complete DeFi nature. In addition to beneficial applications in Yield Farming and Swapping, DSWAP will be further considered to participate in the operation with most products in DRK’s ecosystem.
Information about DSWAP Token:
- Name: DRK SWAP (DSWAP)
- Contract: 0x6eDc42059256ccEb5699bBc6473D77FEeaf8F0F9
- Decimals: 18
- Pre-mined: 50,000 DSWAP
- Total supply: not restricted
- Distribution: only through DRK Swap Yield Farming
- Exchange: DRK/DSWAP
In Part 3, suggestions and basic instructions on participating for DRK Swap and DRK Swap Yield Farming will be delivered to the community. At the same time, we will reveal the next strategies that are expected to be rolled out at Draken.exchange, which promise to deliver strong growth potential across the entire DRK’s ecosystem.