Using the Waves Ecosystem as a Waves Ducks Player
Not many people know this, but there’s a lot of functionality across different projects on Waves, capable of elevating your experience as a Waves Ducks player and bringing in extra coin with virtually no effort. Allow us to show you around the opportunities scattered all over the ecosystem and possibly, encourage you to become a part of the global Waves community.
Waves Exchange is the ecosystem’s own DEX serving as a starting point for crypto traders and investors alike. The best thing of all is that if you play Waves Ducks, you already have a WX account, and all that is left is just logging in. Here’s what you can do:
- Buying crypto. As the primary feature of any exchange, this one allows you to purchase a variety of tokens, including EGG. And with the help of AdvCash, it has become even easier, since you can pay directly with a bank card.
- Spot trading. When purchased, you can bring your EGG to spot trading and sell it to other users for a range of cryptocurrencies. There is always high liquidity and top speed when it comes to fulfilling orders.
- Liquidity mining. At Waves Exchange, it is possible to make your crypto work by providing liquidity to dozens of pools, such as the EGG/USDN pool, where the APY can go as high as 153%, provided that you have some WX tokens on hand. By providing liquidity to the pools, you will be getting a share of the platform fees passively. Go to this page if you want to learn more about liquidity pools.
- Pools voting. If you have the WX token, you can take part in the votings, which can potentially increase the liquidity mining profitability in the pools. More on the voting rules here.
Swop.fi is a service allowing users to exchange cryptocurrencies instantly, while providing solid investment opportunities:
- Liquidity pools. Invest in one of the pools, becoming its liquidity provider. Liquidity is used to exchange cryptocurrency for other users. The liquidity provider’s income is made up of several parts: exchange fees (60% distributed as rewards), Income from Neutrino staking and WAVES leasing, and rewards for SWOP farming. Among the pools, there are several options for EGG owners: EGG-WAVES, RACE-EGG, EGG-USDN. You can check the current pool APYs here.
- SWOP governance token staking. SWOP staking rewards come from 35% of exchange fees in all pools, which are converted to SWOP. A new batch of rewards becomes available approximately once an hour. The maximum number of SWOPs to be issued is 6,000,000 tokens.
Besides earning opportunities, you can instantly exchange EGG for other tokens without placing sell orders on the exchange. Just go to this page and choose the currencies you wish to swap.
Keeper is a very useful browser extension that lets you connect to many services and dApps on Waves. It also takes care of user security, as it stores your private keys locally, so there’s no way to lose access to your account if you have the keys.
- Check your balance. In Keeper Wallet, you can see all your assets, including EGG tokens and keep track of your transaction history. Keeper also allows you to use EGG for transaction fees.
- Transfer and swap crypto. Keeper has a built-in swap functionality with a routing service that lets you choose the most optimal exchange route out of several options.
- View, send and receive NFTs. If you have NFT ducks, you can browse your collection, open your NFTs on the Waves Duck website, and manage NFTs directly from the Keeper UI.
Refer to the official documentation for more details.
Tsunami allows you to trade on margin with EGG and most importantly, gives an exclusive opportunity to hedge your risks! Profit/loss from a trading operation depends on leverage. So, how does this work?
Let’s say you have 100 USDN, and you wish to buy EGG as you are certain its price will grow and you will be able to sell it later for profit. Buying 5 EGGs at 20 USDN each now and selling them at $25 will net you a profit of 25 USDN.
With Tsunami, you can multiply this amount with the same 100 USDN at the cost of increasing risks in case the price goes down. If you buy EGG with 3x leverage, this means that you buy $300 worth of EGG for the same 100 USDN. If the EGG price goes up by $5, you will be able to collect 75 USDN as profit (minus the fee). However, if the price goes down and the momentary loss is greater than $100, your entire position will be liquidated. High risk, high reward.
Puzzle Swap offers unique investing opportunities with its Mega pools. Unlike regular pools containing only 2 assets, Mega pools can hold up to 10! Users can also create custom pools with their own rules and attract liquidity there. Waves Ducks players will feel right at home, since many of the Mega pools feature collective farm share tokens, which can be found only on Puzzle Swap.
Just like with other pools, you can provide liquidity to mega pools and receive passive income based on the transactions performed within. Go to this page and search by the Waves Ducks category to see all the pools involving EGG or Collective Farm tokens.
Puzzle Swap includes an instant swap service which is by far the best place in the entire ecosystem to buy or sell Collective Farm tokens as well as many other coins. And don’t forget to make use of the Puzzle NFT marketplace, where you can trade ducks or a bunch of other NFT collections.
There are tons of neat new mechanics in store for our players, so we will keep you posted on all the Waves Ducks Hunt updates. Join our community on Twitter and Telegram to stay tuned!