IOSTSWAP Farm Launch| First Cross-Chain DeFi Coming To Entroverse Ecosystem

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IOST

5 min readApr 27, 2022

27 April 2022, IOSTSwap Farm- the first cross-chain DeFi Dapp on the IOST EVM Ecosystem officially goes live! The IOSTSwap Farm offers a new use case for Wrapped IOST by enabling users to obtain LP rewards and Staking. Wrapped IOST is also added to Sushiswap, providing easy access to new users who want to explore the IOSTSwap Farm & IOST Entroverse Ecosystem. This exciting launch, together with the kickoff of the decentralized cross-chain interoperability protocol IOSTSwap, marks the beginning of the new IOST’s multichain era.

To celebrate the launch of IOSTSwap Farm, IOST and Sigma will co-host a 30-day high annualized staking event to offer users ultra-high returns through pledging SLP tokens!

Two-tier structure + Double rewards

IOSTSwap Farm consists of a two-tier structure: Wrapped IOST-USDT liquidity pool in Sushi and Farm contract deployed on Ethereum. Users can get SLP tokens after depositing Wrapped IOST and USDT with the corresponding portion, and the obtained SLP tokens can be pledged through this contract and receive double rewards in Wrapped IOST tokens.

Contract Audit: The IOSTSwap&Farm contract has been jointly audited by the IOST developer community and has been in public beta for two weeks, with results showing that the code is mature and stable without any potential risks.

Meanwhile, KnownSec has completed the contract audit of IOSTSwap&Farm, and the audit report is PASS.

IOSTSWAP Farm Features

1. Double Rewards in IOSTSwap Farm

When providing liquidity for the Wrapped IOST-USDT liquidity pool, users can enjoy the handling fee dividends generated within the pool. The ratio is about 0.3% of the total transaction volume. Besides, users can also obtain SLP tokens after depositing Wrapped IOST and USDT in the liquidity pool with the corresponding portion. The SPL tokens can be pledged with rewards through the Farm contract.

2. New Liquidity Channels & Pools

IOSTSwap Farm is the first cross-chain DeFi application in the IOST EVM ecosystem on Ethereum. IOST has provided a large amount of financial support to the Sigma team, allowing users to obtain high returns through IOSTSwap Farm.

3. High Transaction Speed & Low Fees Alternative

IOSTSwap Farm not only achieved the use of Wrapped IOST on Ethereum but also bridged the ecosystem between IOST and Ethereum. As such, users with Ethereum native assets can enjoy the high transaction speed with low transaction fees on IOST and obtain considerable returns simultaneously.

4. High Returns & Reward Dividends

Based on the liquidity and reliable security of Sushi, users can smoothly exchange their WIOST and USDT, for the users who provide liquidity can also receive LP reward dividends (The consumed handling fees when participating in Wrapped IOST and USDT transactions).

Furthermore, through Sushi’s routing function, users can also exchange Wrapped IOST with other tokens on Ethereum that are supported by Sushi, such as ETH and USDC. Up to now, Sushi has supported hundreds of tokens, which means that users can exchange Wrapped IOST for hundreds of tokens. There is no doubt that the launch of the Wrapped IOST-USDT liquidity pool on Sushi is a big move on for IOST’s multi-chain ecosystem building.

5. No Locking Period of Pledged SLPTtokens

Compared with the previous staking Dapps/feature on IOST, such as nodes voting and staking, IOSTSwap Farm holds no locking period of pledged SLP tokens, increasing liquidity for the users.

For a full IOSTSWAP Farm Tutorial, check here

Sigma team highlights:

Sigma plans to launch more liquidity pools and SLP pledge projects for a better and smoother user experience. It will also attract more Ethereum users and players to participate in IOST’s multi-chain ecosystem. Additionally, IOSTSwap will integrate into other high-performance public chains such as Avalanche and Solana, support multiple types of tokens, and promote the connection between IOST and other public chains in funding, users, applications, and more.

Sigma’s goal is to make IOSTSwap the ultimate web3.0 router for IOST, supporting cross-chain interoperability of Tokens, NFTs, and general data between multi-chains. IOST will cooperate with more development teams to launch other high-quality IOST on-chain applications while building the EVM framework in the future. Stay tuned!

Disclaimer: IOSTSwap Farm 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.

Please note that IOST ERC-20 tokens obtained through IOSTSwap are wrapped IOST, which cannot be topped up to Huobi, Binance, and any other centralized exchanges currently. IOSTSwap shall not be liable for any loss caused thereby.

Although IOSTSwap Farm will bring high returns to users, the transfer fee on the Ethereum chain is high. If the user’s Wrapped IOST/USDT liquidity is too small, the LP reward and the staking SLP reward may be lower than the transaction handling fees. Therefore, we do not recommend users try with too little liquidity.

About Sigma

Sigma was established in 2018, focusing on researching and developing core blockchain technologies. The team members are all graduates from world-class universities such as Harvard University, the University of Chicago, and Tsinghua University. They have developed a variety of high-end “blockchain +” products for a handful of partners and enterprises worldwide.

Since its establishment, Sigma has aimed to empower the digital and intelligent development of the real economy with blockchain technology. It is committed to promoting all-around and multi-dimensional innovation and developing cross-chain interconnected ecosystems.

· Sigma Twitter: twitter.com/Sigma_devs

·Official Email: sigmablocks@gmail.com

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 once and for all.

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 620,000 unique wallets and is currently processing over 642 million transactions. The network hasn’t also had a single security incident since its mainnet launched in 2019.

If you would like to hang out with the IOST community on chat, social media, or discuss product development, we have something for everyone: