Frogs! We're proud to announce that LINKSWAP is now LIVE on Ethereum mainnet with associated deliverables. Staking contracts are also live and will begin 24 hours from the release of this post. This post will update frequently throughout the day as more details are revealed, so please keep this tab open. In the meantime, we'd like to inform our community on a few additional items that we lacked the time to describe in previous posts.
During development of YF Link, we created a homebrew solution for staking that will go live with our previously announced incentivized pools - however, this functionality is not limited to the announced pools. As a permissionless system, LINKSWAP enables communities to onboard liquidity through their own exclusive pools and reward individuals for staking their LINKSWAP LP tokens for their given pair. In this way, communities all across the DeFi ecosystem can partake in LINKSWAP and offer a safe and secure platform for distribution of rewards as opposed to the current milieu of anonymously launched reward contracts and the dubious sites that contain them.
As part of this initative, we will be creating the first LINKSWAP Auto Pool by creating a BONK Auto Pool. 20'000 BONK will be donated to the creation of the Auto Pool and rewards will be emitted to stakers of the BONK/ETH LINKSWAP pair. BONK/ETH stakers are also eligible to gain the exclusive BONK x YFL NFT by fulfilling these requirements:
- Stake on the BONK/ETH LINKSWAP pool for a minimum of 3 weeks
- Stake at least 1000 BONK
The rewards period for the exclusive NFT ends after 8 weeks.
The staking contracts for the 8 week promotional period are deployed and will be emitting rewards starting on 00:30 GMT Sunday, December 6th - this way, everyone has a chance to supply liquidity to their chosen pools and earn YFL/Alt rewards in accordance to the rewards program. As a reminder, the rewards are below:
As a small note, HBAR Labs informed us this afternoon that their HBAR wrapping portal is in final testing, and will instead utilize the LINKSWAP Auto-Pool feature to reward the 1.6 Million wHBAR to users who stake on the platform. Expect the wrapped HBAR pair with Auto-Pool rewards to release on LINKSWAP some time next week. In its place, we have created a new pair that features 1x YFL rewards - DPI/LINK:
The DeFi Pulse Index is a digital asset index designed to track tokens’ performance within the Decentralized Finance industry. The index is weighted based on the value of each token’s circulating supply. The DeFi Pulse Index aims to track projects in Decentralized Finance that have significant usage and show a commitment to ongoing maintenance and development.
Finally, we'd like to inform the community of several exciting new updates we have made and will be implementing throughout the week as a staggered release. LINKSWAP is live and available for trading with launch pairs, with a brand new governance section of the YF Link site that includes TVL, YFL rewards, and so on. You can view it here and clicking on the "LINKSWAP" sub menu.
Additionally, we will be rolling out extra features, including a site for tracking statistics like TVL, recent trades, and prices (similar to Uniswap.info) as well as submitting information for our pairs to CoinGecko for inclusion in their exchanges section.
We will also be implementing the rest of our (non-incentivized) launch pairs throughout the next 24 hours and onboarding our liquidity partners for trading. Finally, we will be implementing a launch list token list as well as a LINKCHECK Verified token list for LINKCHECK applicants moving forward.
Finally, additional pools will be enabled in the coming days as well, so that anyone can supply liquidity to new pairs not currently on LINKSWAP and gain access to its unique featureset. As a security precaution, we are releasing this slowly to the public, and it will not be available until we flip the switch on new pool creation.
Linkswap has also partnered with GSR, one of the leading market making firms in digital assets. GSR focuses on liquidity provision via programmatic trading, OTC, and derivatives. OTC block interest should be directed to email@example.com. GSR, YFLs current market maker, has been adding liquidity where appropriate and will continue to do so throughout the LINKSWAP launch and onwards.
As a final note, we would like to thank all of our supporters, believers, and friends who have helped along the way - we'd like to remind you all that this is a community project first and foremost, the world's first truly decentralized community DEX - we intend for great things to come to LINKSWAP and the YFL ecosystem in the future.