Minswap V2 Launches on Cardano
7/10/2024
This week, Minswap, the leading Decentralized Exchange on the Cardano blockchain, launched its much-anticipated V2 version. Packed with new features and substantial improvements, this upgrade promises to revolutionize the trading experience for users. With increased throughput and reduced fees, Minswap V2 is set to become a game-changer in the Cardano DeFi ecosystem. This article will explore Minswap V2, its launch, liquidity migration, and more.
Minswap V2 Launch
On July 10th, 2024, Minswap launched the V2 version of the Minswap DEX. Built using Aiken, an advanced smart contract language on Cardano, this new version offers a tenfold increase in throughput compared to the previous version written in Plutus V1. The launch includes several enhancements, such as Pro Mode for advanced users, deeper analytics, and significantly lower trading fees.
One of the most notable changes is the reduction in batcher fees. For the next three months, batcher fees on Minswap will be reduced by 50%, to just 1 ADA. Users holding $MIN tokens or MIN/ADA liquidity pool tokens can benefit from even lower fees, potentially as low as 0.75 $ADA. After this three-month trial, the community will review the results and establish a fee management strategy, including the formation of a Fee Management Committee. A proposal outlining these plans will be submitted on the Minswap Forum for community discussion and approval.
Liquidity Migration
To fully benefit from Minswap V2, all liquidity providers are encouraged to migrate their liquidity from V1 to V2. The DAO has approved two methods for this migration: automated and manual. After migrating their liquidity, it is crucial for providers to stake their LP tokens in the V2 Farm to continue earning rewards. This staking process ensures that liquidity remains active and beneficial within the new system, optimizing the overall functionality and user experience of Minswap.
You can visit the Liquidity Migration page on Minswap V2 at the following link: https://app.minswap.org/en-US/migration
How Will Minswap V2 Benefit Cardano?
As Cardano’s leading DEX, Minswap’s V2 upgrade brings substantial benefits to the entire Cardano ecosystem. By leveraging Aiken, this version enhances transaction efficiency, allowing for faster, more reliable trading and significantly reducing congestion during times of high volume trading. These improvements will attract more participants, bring more liquidity on-chain, and increase trading volume. The new advanced tools and trading options offered by Minswap will revolutionize the trading experience on Cardano, making it more efficient and user-friendly. Minswap V2 will play a crucial role in driving the ecosystem’s growth and success.
Conclusion
Minswap V2 has launched and stands poised to revolutionize trading on the Cardano blockchain. With increased throughput, reduced fees, and advanced trading features, the next-generation DEX promises to significantly enhance the trading experience and take it to the next level. It will be interesting to see how Minswap evolves and impacts our ecosystem in the coming weeks and months.
You can check out Minswap V2 at the following link: https://minswap.org/
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem.
We hope this helped you get caught up with the most recent crypto news. If you enjoyed the read make sure to follow TapTools on X and join our Discord.
