DefySwap, an innovative decentralized cryptocurrency exchange (DEX) on the Fantom network, has successfully collected 90,000 USD Coin (USDC) from their token pre-sale within 10 seconds. The pre-sale, which took place on December 9th, was open to the public for 24 hours with a maximum purchase limit of USDC 450 per user. The DEX has also raised over USDC 450,000 from private investors, influencers, seed investors and institutions, bringing the total to over USDC half a million.
DefySwap’s CEO, walking past “The Leveler”, happily said, “We were overwhelmed by the response. While we expect them to sell out, we don’t expect them to sell out within seconds of being released. It gives us great pleasure to see how supportive the Fantom community has been with every unique offer we put on the table and makes us more determined to keep our promise. . She added, “With a high salary comes great responsibility.”
DefySwap joins the populous DEX market in the Fantom ecosystem with a token innovation in which DFY’s total token offering will never exceed 10 million. This has been achieved through the manipulation of token issuance plans and very clever incentives where farms and pools will be sustainable forever without exceeding the total resource. The maximum offer is 10 million DFY. They posted a detailed description of how it works, and you can find a movie on YouTube that explains the same thing.
DefySwap currently offers a high annual percentage (APR) on the most popular tokens and pairs in the Fantom ecosystem, including DFY-USDC, DFY-FTM, FTM-USDC and more, making it a very lucrative DEX for those looking for a secure one and still seek high DEX returns on their investments.
DefySwap also introduced the concept of Permanent Loss Protection (ILP) on its domestic farms as an integrated insurance policy for users to reduce the risk of temporary loss. Whenever a user suffers a temporary loss, its fully automatic ILP protection comes into play, calculating the user’s loss and paying out just enough DFY to eliminate the loss, i.e. neutralize the risk of farming. The only condition is that users must have continuous use of the farms for 30 days to be eligible for this coverage. At the same time, users do not have to pay any additional fees for this.
DefySwap is also unique in that they don’t use tokens on the team. Almost all major DEXs from all chains reserve a certain percentage specifically for their pool, while DefySwap relies solely on taxes and transaction fees, making it less prone to dumping risks.
When asked about the currently big buzzword of the FTM chain, namely the Non-Changeable Token (NFT), “The Leveler” added: “We are definitely bringing people the best surprise with our commitment in the coming Christmas season. We found a way to achieve this with the help of Dubwise Renzo. The theoretical model is ready and we have started development and testing. We will publish an update on this shortly. “
However, she declined to reveal details, saying, “So far we have not offered anything that has been offered before, yes, expect the unexpected. We’re bringing back something that has never been on the market before. For example, has anyone seen DEX doing something like our ILP or our no-team guidelines? ‘She continued.
Defyswap has received interest from some of the biggest names in the Fantom ecosystem, including DubwiseRenzo, who is overseeing the project. When exposed, he was excited about the project, saying it has the potential to compete with established DEXs on the FTM network and is currently flying under radar. The team has a number of plans and strategies for marketing. When that starts, DefySwap will attract new eyes from those who are currently unaware of what is happening on the Fantom network. The response from the community to DefySwap was overwhelmingly positive, as the lightning-fast advance booking shows. Since all signs around the project are positive, there are no signs of fear, uncertainty, or doubt (FUD) around the project.
Overall, DefySwap is well on its way to making big waves on the Fantom network and if they switch to any other chain the team is expected to live up to this user base’s expectations as well. They also offer a partnership program so keep that in mind.
DefySwap is a Fantom-based DEX with a limit order and centralized exchange- (CEX-)like interface. Users are able to trade safely and use advanced features for maximum user experience.
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DefySwap is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest and/or trade.
- The Leveler
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