We are excited to share the news of collaboration with Allbridge aimed to expand interchain DeFi infrastructure. The new Allbridge gateways enable transferring assets between Waves, Ethereum, Polygon and Binance Smart Chain blockchains, while the new pools on Swop.fi make it possible to convert these assets into other Waves-based tokens.
Assets transferred from different networks via Allbridge gateways are represented by separate tokens and do not mix with each other. To exchange such tokens, a new type of pool — multi-pool — has been added to Swop.fi. At the start, we have created the following two multi-pools:
The multi-USDT pool contains different flavors of USDT:
- USDT already familiar to Waves users and supported by Waves.Exchange gateways
- aeUSDT transferred via Allbridge from the Ethereum network
- apUSDT transferred via Allbridge from the Polygon network
- abUSDT transferred via Allbridge from the Binance Smart Chain network
The multi-USDC pool contains different flavors of USDC:
- already familiar USDС
- aeUSDC from Ethereum
- apUSDC from Polygon
- abUSDC from Binance Smart Chain
Investing in multi-pools
Investing liquidity in multi-USDT and multi-USDC pools is a low-risk investment: these pools consist of stablecoins and are not subject to volatility or impermanent loss.
Liquidity providers’ income consists of several parts.
Trading fees are 0.15% of each exchange, of which 0.09% go to liquidity providers. The more active the exchanges, the higher the providers’ income is.
SWOP farming brings rewards in the protocol’s governance token. The greater the pool weight, the more SWOP its liquidity providers will receive. Pool weights are set in votes by SWOP stakers. You will be able to vote for the weight of the multi-USDT and multi-USDC pools from September 26, and the farming reward will start accruing from October 3. More about voting rules
Early-bird liquidity providers of the multi-USDT and multi-USDC pools will be paid additional exclusive rewards in USDT. The rewards will be distributed among the providers in proportion to their share in the pool within 20 days, from September 26 to October 15. The reward size is $13,700 for each of the pools, which will be 100% APR with a projected liquidity of $250,000 (13,700 / 250,000 is 5.48% for 20 days; 5.48% × 365 / 20 = 100%).
How to make money on multi-pools
- If you don’t have an account on the Waves blockchain, create one in Keeper Wallet.
- Deposit the funds you are going to invest. For example, at https://app.allbridge.io/ transfer USDT or USDC from Ethereum, Polygon or Binance Smart Chain network.
- Connect Keeper Wallet at https://swop.fi/.
- To use Swop.fi, you have to pay network fees of 0.005 WAVES per transaction. If your wallet is empty, Allbridge provides initial 0.01 WAVES.
The first thing to do is to go to https://swop.fi/exchange and swap some amount of your assets for WAVES for future transactions. For example, 0.1 WAVES is enough for 20 transactions. - At https://swop.fi/info, select a pool: multi-USDT or multi-USDC. On the pool page, click + Add liquidity. You can invest in the pool any of the included tokens. In return, you receive the pool’s share tokens.
Please note: your tokens will be automatically converted to the same proportion as in the pool. Due to the price impact of internal exchanges, the value of your share in the pool may differ from the value of tokens you provided. Depositing the tokens with the smallest amount in the pool will bring you an instant bonus. - At https://swop.fi/investments/swop-farming, add pool’s share tokens to farming. On the same page, you will be able to claim your SWOP reward.
- At https://swop.fi/investments/portfolio, you can claim accumulated trading fees. The exclusive reward for early-bird liquidity providers will be transferred directly to your wallet after October 15.
Features of multi-pools
Multi-pools have some differences compared to other Swop.fi pools:
- Trading fees do not remain in the pool, but are accumulated on a separate smart contract and can be claimed by liquidity providers. Thus, the multi-pool’s share token is a stablecoin, which can become widespread in Waves-based DeFi tools.
- The multi-pool’s smart contract uses the time-proven Curve-like pricing formula. Thanks to this, it’s possible to include more than two tokens in the pool.
- Liquidity can be supplied in any of the included tokens or in several tokens in any ratio. Liquidity can be withdrawn either in one token or in all tokens in proportion to their amount in the pool. The smart contract performs all internal exchanges needed.
- “First harvest” for multi-pools is not provided.
About Allbridge
Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains, that aims to cover L2 solutions and NFT transfers in the future.
Allbridge’s mission is to make the blockchain world borderless by providing a tool to freely move assets between various blockchains.
About Swop.fi
Swop.fi is a service featuring instant exchange of cryptocurrencies based on AMM (automated market maker) model, investing assets in order to receive passive income, and an IDO platform. Swop.fi is implemented on the Waves blockchain, which ensures high transaction speed and low network fees.
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