Penjelasan

What is MindchainSwap?

MindchainSwap is a decentralized exchange built on the BNB Chain (formerly the BSC and Binance Chain). It enables its users to easily exchange BEP-20 standard tokens.

The main idea behind DeFi and DEX was to decentralize money globally. Crypto experts envision a system where centralized exchanges would not be needed. Uniswap and SushiSwap have emerged as market leaders. But there was a skewed trend with the development of most DApps on the Ethereum blockchain. This heavy reliance on the Ethereum network has created challenges such as slow transaction speeds and high gas fees.

How does MindchainSwap work?

As mentioned above, MindchainSwap is a decentralized exchange that runs on the BNB chain. It works on the automated market maker (AMM) model instead of the traditional market model, where there is one seller and one buyer.

People deposit their funds in this liquidity pool. In return, they get an LP (liquidity provider) token. On the other hand, those who want to use this liquidity pay a fee to the DeFi platform.

The AMM model allows you to earn by creating liquidity for the pool. The more you contribute, the more you get in return. You can trade LP tokens for profit. In addition, they can be farmed into another type of liquidity pool to earn MindchainSwap’s native BEP-20 token known as MIND. That’s not all: there are other types of pools that are more rewarding than others.

What can you do at MindchainSwap?