Mar 5, 2022
ACryptoS partners with MetalSwap with dual rewards LP Farm
In many commodity-based industries like oil and wheat, producers and end-users can hedge the price risk of the underlying commodity through something called a commodity swap.
A commodity swap is a type of derivative contract that allows two parties to exchange (or swap) cash flows that are dependent on the price of an underlying asset.
Through a commodity swap, both buyers or sellers of the commodity can hedge a market position and create a stable price point that’s favourable to them. For example, for a buyer, it could mean a stable buying price (e.g. price of oil for airlines).
A new protocol MetalSwap is creating something interesting in the DeFi space that allows swaps between crypto assets and metal synthetic assets. By using smart contracts, MetalSwap makes it possible to execute the above without the need for intermediaries, at reduced costs and without time restrictions.
It uses a set of smart contracts to enable commodity swaps on the blockchain as shown in the diagram below. You can find more information on their Medium page.
As part of their launch, they have also introduced their governance token XMT on Ethereum and Binance Smart Chain which is allowed to vote on new updates to improve and manage the MetalSwap ecosystem and receive staking rewards.
XMT-BNB LP Farm on AcryptoS (57%-212% APY)
ACryptoS has been one of our favourite yield farming optimisers on Binance Smart Chain since launch for both their safety and track record. They have launched a XMT-BNB Liquidity Pool (LP) in partnership with MetalSwap with dual rewards.
$50,000 XMT+ $30,000 ACSI has been allocated for the farm to be distributed over a period of 90 days.
The pool, currently sitting at about $507K in liquidity, is built on top of their Balancer fork ASCI Finance which we previously covered in this article.
Rewards can be boosted by staking ACSI tokens in the ACSI pool.
How to farm the XMT-BNB pool with AcryptoS
Step 1: Provide liquidity in the XMT-BNB Liquidity Pool
Deposit either XMT or BNB or both in equal proportion in ACSI Finance.
Step 2: Stake the pool tokens received on the ACryptoS farm
After providing liquidity in the XMT-BNB LP, stake those LP tokens received in the XMT-BNB farm on ACryptoS.com.
Once staked, you’ll receive juicy dual rewards; XMT + ACSI as well as swap fees on top.
ACryptos v2 UI and NFT mint
ACryptoS has launched their brand new V2 site with a refreshed UI, and the cosmetics looks gorgeous!
The new site merges ACSI Finance’s swap and LPs all into a single site, making it much easier for users to trade and provide liquidity on a single page. The new site also consolidates their auto-compounding vaults for easier access to yield farming opportunities.
ACryptoS is also conducting their NFT mint on 11 March 2022, and you can mint your favorite character NFTs Akira, Cori, and Satoshi using ACSI tokens. A gentle reminder that the character NFTs can be used for accruing platform fees, yield boosting of up to 2.5X, governance, and more.
Note: This is a sponsored article by ACryptoS. However, opinions expressed in this article are independent. This is not financial advice, please do your own research before investing.
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