Crypto.com announces it has added Swerve (SWRV) to its DeFi Swap service. Users can now swap, farm, or provide SWRV liquidity to earn higher yields. Furthermore, they can increase their yield 20x by staking CRO. Along with this, DeFi Swap also offers SWRV holders ten CeFi and DeFi tokens to swap their SWRV with.
Additionally, Crypto.com Coin (CRO) holders enjoy an additional opportunity to be liquidity providers (LPs) on the platform. For their contribution to the liquidity pool, the CRO holders can earn promising incentives. According to the whitepaper, users who stake 50,000,000 CRO for 4 years can get up to a 20x multiplier.
For swapping Swerve with any other token, a user must pay a swap fee of 0.3%. The tokens against which SWRV can be swapped are:
- Harvest Finance (FARM)
- Uniswap (UNI)
- Wrapped Bitcoin (WBTC)
- Yearn Finance (YFI)
- (Wrapped) Ether (WETH)
- Tether (USDT)
- USD Coin (USDC)
- Dai (DAI)
- Chainlink (LINK)
- Compound (COMP)
- com Coin (CRO)
Swerve – Fair governance distribution
Swerve Finance is the fork of stablecoin swap protocol Curve Finance. Recently, Curve Finance suffered allegations of pre-mining and centralized control. Effectively, this led to the Swerve Finance fork where SWRV is the 100% community-owned governance token.
SWRV is designed for extremely efficient stablecoin trading. According to Swerve supporters, it could be a strong representative of mature DeFi protocol development.
Does DeFi Swap come with any risk?
DeFi Swap is a fork of Uniswap V2 which was audited by dapp.org. Furthermore, Crypto.com’s security team did audit the smart contracts and DeFi operating model of DeFi Swap prior to launch. Along with that, SlowMist also conducted an independent audit of the same. However, Crypto.com does disclose all the potential risks associated with the protocol.
Currently, Crypto.com is running a DeFi Swap Launch Incentive program. According to this program, Crypto.com will guarantee a minimum reward pool of 1,000,000 CRO per day for the first 14 days. The program will end after the next two days.
— Crypto.com (@cryptocom) September 23, 2020
Meanwhile, on the Altcoin Buzz YouTube channel, we are talking about 10 low cap gems. Learn more about these undervalued coins.