We at NULS/Nerve are happy to announce our collaboration with FarSwap. FarSwap is a DeFi software platform currently running on Ethereum. It offers users the opportunity to lend, borrow, buy, and sell cryptocurrency assets while earning rewards. It includes an autonomous ecosystem of KYC-free algorithms.
DeFi platforms like FarSwap aim to take the middlle-man out of financial transactions such as lending and borrowing. This makes these mechanisms more accessible to everyday users. They offer rewards and incentives to users who stake their assets to provide pools of liquidity.
On AMM-based DeFi exchanges, the usual order book is replaced by on-chain, pre-funded liquidity pools. Liquidity providers earn income on their asset deposits from transactions such as trading fees. The amount they earn is based on the percentage of the liquidity pool that they provide.
With FarSwap, 50% of trading fees are given to those participants staking and providing liquidity on the platform.
Lending and borrowing
With FarSwap, you earn rewards each time you lend or borrow on the platform. They reward lenders and borrowers with the FAR token.
- When you pay back the loan with FAR, you get a 2% repayment discount.
- There are other rewards when you pay back the loan with the Far token.
FarSwap offers farming for rewards as well as lending and borrowing.
On the FarSwap Farm, users can earn 55% per annum, and you can unstake and withdraw at any time.
What will the final product look like with NULS/Nerve?
Via the NULS/Nerve collaboration, FarSwap will give users zero-fee transactions to solve the problem of (currently outrageous) high gas fees and reward users for their activities on the platform.
FarSwap plans to build with the NULS/Nerve Network blockchain, ChainBox, and ChainFactory. It will also take part in the NULS SCO/POCM program.
When asked, why NULS? FarSwap CEO Nurulla Matyakubov explains: “FarSwap marks a first in the world of DeFi, finding a solution to the problem of transaction fees and providing alternative areas of use. Users will be able to use their FAR tokens in the ERC-20 and BSC networks.
“FarSwap will provide the transition between BSC and ERC-20 networks via the NULS/NERVE platform. NULS-FarSwap cooperation will play an important role at this point.”
Please read up on yield-farming and know the risks before investing. A great place to start is coinmarketcap.com/alexandria/article/what-is-yield-farming.
CEO: Nurulla Matyakubov
Token name: FarSwap