Introducing SnowSwap: Switch between Stablecoin Vaults

OVERVIEW OF SNOWSWAP

In brief, SnowSwap is an upcoming way to swap between different stablecoin yEarn Vaults quickly, and for a relatively small fee. They do this by utilizing the proprietary Curve algorithm which allows you to get a cheaper exchange rate. This can enable swapping of vaults to take advantage of better APY rates while saving in gas fees.

REWARDS FOR LIQUIDITY PROVIDERS

It’s already possible to become a liquidity provider. To get the rewards, you simply deposit your stables now and you’ll get rewards once they begin to issue them — and as a bonus, the rewards will be retroactive, so if you deposit now, you’ll be rewarded for prior LP once it kicks off. Later you’ll be able to use the rewards to vote in the DAO etc.

SNOWBALL.MONEY — A MOBILE-FIRST DEFI SERVICE

While also in development, there’s a beta app that we’ve tested and, while not the first way to ever access DeFi via mobile, it looks like a winner, enabling users to deposit straight from banks into DeFi, into yEarn vaults. This is very bullish for yEarn and really for DeFi in general. We’ve seen Robinhood and Acorn succeed as mobile-first platforms, and that’s what snowball.money is aiming to do, but for DeFi. They’re also planning to launch a Debit Card that you’ll be able to recharge from your DeFi accounts and purchase real-world assets.

They’re not only launching in the US (in 32 States/Districts presently) but in many countries around the world. The App is available for download, but it’s still a bit rough, clearly an early release, but we’re excited about what the future holds for the Snow ecosystem.

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