Decentralized exchange Linkswap recently launched some liquidity pools
Linkswap was designed to compete with Uniswap, which lost its lead after farming ended on November 17th. The decentralized exchange promises good returns for its community members who have called themselves “LINK Marines”. The project has a native DeFi-backed governance token called YF Link (YFL).
The decentralized automated market maker (AMM) officially gave the go-ahead yesterday when it introduced its first liquidity farming pools. Just 24 hours after launch, users had deposited nearly $ 7 million in crypto collateral into the ten pools. The total suspended platform (TVL) value is currently north of $ 10 million, according to YF Link’s Twitter feed.
“#LinkSwap is valued at over $ 10 million. We’re just getting started. New updates, new features, stake rewards, exclusive pairs and $ YFL stake. 50,000 tokens – get yours! YF LINK team posted.
Based on numbers from the Linkswap dApp, there are two preferred liquidity pools, i.e. H. YFL / wETH and YFL / LINK. The pools have the best rewards in YFL, which explains their tremendous popularity. Each of these pools have more than $ 2 million in crypto collateral. Together these pools make up about 60% of the total deposited funds.
The remaining eight pools contribute 40% to the platform’s liquidity. These pools contain several obscure tokens like CEL from Celsius Network, GSWAP from Gameswap, DPI from DeFi Pulse, and YAX from yAxis.
Linkswap announced that YFL will only be given out to users for the first 24 hours, a session that has already expired. After that, the farmers have to use their liquidity pool tokens for the decentralized exchange in order to be able to access rewards in other altcoins. The platform stakeout exercise lasts eight weeks, with the rewards being shared between farmers on a daily basis.
The decentralized exchange differs from Uniswap in that projects that want to participate in the decentralized exchange charge a listing fee. The fee collected is then distributed to YFL holders with their YFL in governance bug. On Uniswap, anyone can list tokens free of charge. The platform also has a carpet lock that the protocol can use to lock in the initial liquidity to protect investors.