Introducing BORGSWAP
BORGSWAP has been on the Assimilate.Finance roadmap since the origin of the project. BORGSWAP is both a swapping and Yield Farm dApp designed for all projects in the Alpha Quadrant (Assimilate.Finance Ecosystem).
We will deploy BORGSWAP in a Phased Deployment:
- Phase I — BORGSWAP: Klingon Yield Farm — this will build liquidity into the reward token for BORGSWAP.
- Phase II — BORGSWAP: Full Swapping Engine — BORGSWAP will be fully rolled out in this phase, and liquidity will be incentivized by KLING rewards from the Yield Farm.
Klingon Farms
The Klingon Yield Farms support the following native $KLING pairs:
- KLING — BUSD (40x Rewards)
- KLING — BNB (24x Rewards)
- KLING — BTCB (Binance Pegged BTC) (80x Rewards)
- KLING — ETH (80x Rewards)
Addressing the Klingon in the Room
The “Elephant” in the room when it comes to Yield Farming is Impermanent Loss (IL). This loss comes from the fact that the token price is not equal to the token being deposited for farming liquidity. This is one negative aspects of Yield farming that can impact to profits and performance for investors.
Klingon Yield Farms will address Impermanent Loss by farming pools that have a token price that is close in range to the current $KLING Price.
This is clearly incentivized by the highest earning pools being $KLING-ETH and $KLING-BTCB.
Klingon Staking for $KLING and Crypto
Staking of $KLING for Klingon rewards is available with BORGSWAP. This method of staking provides you with the most resistance to Impermanent Loss, but has a lower APR vs. farming.
Other pools for staking $BUSD, $WBNB, $BTCB, $ETH, $ADA, $DOT and $DOGE are available with a 4% deposit fee. This deposit fee is used to buy back $KLING on the market.
Klingon Staking of DeFi Tokens
In order to offer rewards for users of Ethereum and Binance DeFi dApps, BORGSWAP has also included staking of numerous DeFi token options.
Current options include $CAKE, $EGG, $XVS, $LINK, $AUTO, $BETH, $UNI, $UST, $COMP, $YFI, $CREAM and $TWT. There is a 4% deposit fee for staking DeFi tokens and this deposit fee is used to buy back $KLING on the market.
Killing of Klingons (Token Burns)
100 $KLING were minted in the creation of the BORGSWAP: Klingon Yield Farms. So far, the team has sent 52 $KLING to the 0x0dEaD address, taking them out of circulation forever. By killing Klingons, we maintain scarcity of the token to keep the value high.
Klingon Burn Backs (Buy+Burn) with the 4% Deposit Fees
In addition to killing the originally minted Klingons, we have also been doing Burn Backs (Buying $KLING and Burning it) using funds from the 4% deposit fee.
The first buy back was issued here:
TXID #1 — Buy Back https://bscscan.com/tx/0x2aa8ba94e23c2227372190577b88b56233b2690f091318345252317dbe2f3b7e
TXID #2 — Token Burn https://bscscan.com/tx/0x03f21b72921f8b4c171624ede9ffb8568eec14a2f49074d1c5d406ae537d71aa
What’s Next?
For Phase II, we proceed to a full swapping solution on BORGSWAP. We expect BORGSWAP to enter Phase II in one week.
Additional Information:
- Twitter: @TheBorgToken
- Telegram: Telegram Room
- Medium: TheBORG Token
- dApp: BORGSWAP