IOST Added As Liquidity Asset on Polygon-based AMM DEX Meshswap
29th April 2022, IOST is excited to announce a partnership with Meshswap- an AMM-based decentralized exchange protocol built on Polygon network.
IOST will be added as the newest liquidity asset on Meshswap and IOST- pair farming pool will be created for the IOSTIANS community to enjoy high-yield farming and additional incentives such as Drops, Ecopot, and transaction fee rewards.
This partnership opens up new opportunities for the IOST community’s active engagement in decentralized economic activities such as yield farming, token swaps, liquidity providing, and gaining governance power through a democratic decision-making system in Meshswap DeFi protocol.
Blake Jeong, CMO of IOST comments:
“We are very excited to partner with MeshSwap. The MeshSwap team is an outstanding team that has already experienced success in various chains such as Klaytn, BSC, and Heco. Through this partnership, IOST community members will be able to claim Mesh Tokens as well as additional rewards provided by IOST. We will continue to strive to provide more benefits and returns for the community members who support the IOST ecosystem.”
About Meshswap
Meshswap is a renewed version of its predecessor KLAYswap, an existing AMM, and part of the DeFi ecosystem created by Ozys. Meshswap offers a high-quality yield farming service (AMM, staking, leveraging, IDO, etc), with a complete decentralized DAO governance system to open more opportunities for users to enjoy higher yields in a stable trading environment.
Meshswap is designed to support all kinds of blockchain-based assets, and the support of IOST will be an opportunity for Meshswap and the Polygon community to expand their scope in the decentralized blockchain market.
On March 25th, 2022, IOST integrated with Polygon Bridge, a trustless cross-chain transaction channel between Polygon and Ethereum, in order to support stable asset movement between IOST and Polygon mainnet. Upon integration, it creates a huge liquidity pipeline by connecting IOST users to the Polygon ecosystem through Meshswap DeFi protocol.
In Meshswap, MESH (governance token in Meshswap) reward is given to liquidity providers of major assets (ETH, MATIC, USDT, etc). And IOST will be one of the major assets in Meshswap just like ETH and USDT, which enables IOST holders to mine MESH inflation reward when pairing with other major assets. And three traits of the new platform; large stake with a small amount of liquidity provision, the high value of reward token (MESH) due to MESH being a fair launch case, and active transaction in the initial stage, all of which lead to a higher yield (APR).
Moreover, IOST community can gain governance power in the new DEX protocol by mining MESH in the initial stage. MESH Stakers lock up their MESH for a certain period in exchange for MESH and liquidity pool voting rights (vMESH). Using vMESH, Stakers can vote on specific liquidity pools to allocate more MESH rewards and receive the distributed transaction fees incurred in the voted pool. Furthermore, as MESH stakers are one of the most active contributors to the Meshswap ecosystem, they earn additional token airdrop rewards such as Drops and Ecopot.
- MESH Staker can directly decide which liquidity pool to allocate more MESH through votes.
- With the above function, IOST holders can vote on IOST pair pools in order to increase a yield for the pair and get more profit with vMESH
Disclaimer: Meshswap is developed by third-party developers. The information provided here does not constitute any investment advice. All content provided here is intended for education only. IOST bears no responsibility or liability for any loss that users may experience. Please get in touch with the DApp team directly for any questions.
About IOST
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma.
IOST has gained widespread recognition due to its innovative features and superior blockchain technology. It has also outpaced 37 top competitors, including Ethereum and EOS, multiple consecutive times in the ranking by China’s Ministry of Industry and Information Technology.
IOST network has more than 624,000 unique wallets and is currently processing over 648 million transactions. The network hasn’t also had a single security incident since its mainnet launched in 2019.
Notably, in April 2022, IOST announced the launch of Project Entroverse to become an EVM-compatible multi-chain. This move, coupled with the kickoff of IOSTSwap and IOSTSwap Farm, has become a highlight in IOST’s 2022 development roadmap.
If you would like to hang out with the IOST community on chat, social media, or discuss product development, we have something for everyone:
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