The liquidity platform KingSwap has completed the migration process from Uniswap to its own liquidity mining pool
Decentralized finance [DeFi] ecology has been booming. As of press time, its total market value has reached 17.662 billion US dollars, while the market value of Ethereum is close to 53.994 billion US dollars. The market value of DeFi exceeds that of Ethereum by 30%, and it seems to be more than that.
Many projects have made great contributions to the development of DeFi, Uniswap is one of them. Uniswap is not only an ERC20 token based on Ethereum, but also an agreement that does not require buyers and sellers to create demand. It has always been the most popular cryptocurrency trading platform and is responsible for providing transactions for new projects.
Today, KingSwap, a high-yield liquidity platform, has completed the migration process from Uniswap to its own liquidity mining pool. After the project was listed on Uniswap, it received a transaction volume of 4 million US dollars. At present, the project has begun to create its own ecology and provides generous currency holding rewards, NFT digital collectibles and over-the-counter transactions. The press release shared with AMBCrypto pointed out that KingSwap is an upgraded version of Uniswap that provides user-friendly features for Xiaobai and provides real-time benefits in terms of price and contributor rewards.
KingSwap global consultant Malcolm Tan stated that KingSwap is the first regulated DeFi project established in Singapore. The team has been looking forward to continued development after the launch of NFT, and will continue to enhance the platform infrastructure in the next few weeks.
Uniswap provides a trading platform for many new projects, but now it has some restrictions on development. As its UNI liquidity mining ended on November 17, Uniswap's total lock-up amount dropped from US$2.718 billion to US$1.29 billion. Since its establishment in September, the trading platform has been operating 4 liquidity pools, each of which has accumulated 583,333 UNI per week. With the end of the incentives, communication between the team and users is very important. Currently, it lacks a way forward. With the end of liquidity mining, communication with users is crucial for the team to figure out the way forward.