Swamp Finance is a cryptocurrency and decentralized finance (DeFi) project that works as a yield aggregator platform on the Binance Smart Chain (BSC). This is one of the latest DeFi solutions that is now reaching a larger number of users in the crypto ecosystem.
We will focus on this guide on the basic things you should know about Swamp Finance. We will answer questions such as “what is Swamp Finance?,” “how does Swamp Finance work?,” and many others.
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Swamp Finance is a decentralized finance (DeFi) platform that was released a few months ago and that allows users to earn rewards on different pools and farms. The native token of this platform is called Swampy and is represented by the SWAMP ticker.
In order to offer its yield farming and compounding services, Swamp Finance works with vaults that make it easier for users to handle gas fees. Moreover, vaults are also useful to plan different strategies for users to improve their investment strategies.
The goal is to offer users with long-term yield farming. This is excellent for users that want to increase their yield but also make sure that they are using a platform with appropriate incentives for them.
Rather than reinvesting the funds manually, investors can rely on the different solutions offered by the company to increase users’ efficiency and earn larger rewards. Finally, the platform claims that they are working in order to increase investments’ efficiency without pushing the investors to get involved in the whole process. Of course there is a minimal involvement but most of the work is done automatically.
The platform offers users with the possibility to earn yield on theri investments in different liquidity pools. The platform offers a much larger variety of pools compared to other DeFi platforms and swap exchanges such as PancakeSwap or ApeSwap.
At the moment thye offer different LP with different pairs. However, those with the highest yield are those that include the SWAMP token, the native virtual currency of the platform. The rewards are paid in SWAMP and users can sell them in the market as soon as they earn these rewards.
In this way, the platform rewards users every single time they provide liquidity. Additionally, Swamp Finance makes sure that users get the best yield by optimizing their earnings. This makes it easier for users to earn larger rewards than using other platforms.
At the moment, the largest farms include SWAMP/BNB LP and SWAMP/BUSD LP. However, there are many other farms to select and start earning rewards. At the time of writing, these farms are offering 446% and 573% rewards for users. Nevertheless, the rewards change over time depending on different factors.
There are different competitors for Swamp Finance in the cryptocurrency market. With the expansion of the Binance Smart Chain (BSC), several projects have been growing and expanding. This is why there is a large offer of new platforms that offer decentralized exchanges (through swaps), liquidity pool provision and farming.
PancakeSwap and ApeSwap are two of the main competitors that have been expanding over the last months. Although these two are platforms that have gained more media attention, Swamp Finance could show that it is also a strong platform with a large user base and that continues to grow.
It is worth taking into consideration that despite having several competitors, each of these projects has different solutions and services. This is why it is not the same to use one or another. Furthermore, rewards for users are also changing from platform to platform.
The Swampy token is the governance token that powers the Swamp Finance platform and ecosystem. Users that hold this virtual currency are entiteld to participate in different SwampDAO proposals. Thus, the token is used as a governance digital asset. Moreover, individuals can also use this virtual currency in order to get bonus yields in different farms or smart contracts. The token runs on top of the Binance Smart Chain platform and it is a BEP-20 type token that is also listed on PancakeSwap. This shows the virtual currency has been growing over the last months.
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