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[Can the Swamp Drown All Other dApps?]

by Gordon James

It’s time to break out the shovels and start digging through the mud. The crypto landscape has been swirling for over a year now, with many new dapps and projects cropping up every week. The fact that the market has been moving so quickly is no doubt a good thing, but it also means that the industry has never been more crowded. Most new projects are solving the same problems, and there is very little chance that any of them will ever be able to make an impact in the future.

There are over 1,000 active cryptocurrencies in existence today. Nearly all of them are very similar to Bitcoin (BTC), but there are some that have adopted new features in an effort to make them more attractive to mainstream users. One of those new features is the ability to send and receive funds across the Ethereum blockchain. This new feature allows dApps to interact with other dApps without having to rely on the services provided by an existing blockchain.

It’s easy to see why Ethereum is an attractive location for developers. It provides a platform for new decentralized applications to be built on, with a plethora of tools for developers to use. However, as with any open source project, there are competitors in the market ready to take advantage of Ethereum’s popularity. Another blockchain, known as EOS, is aiming to challenge Ethereum with a similar set of features, although it is still a very new project.  There’s a lot of enthusiasm around EOS, but whether it will be able to take on the challenges of scaling and decentralisation is yet to be seen.

Many DeFi projects have appeared on the Binance Smart Chain. Many of them have such strange names that it is often difficult to take them seriously. I mean, who has ever seriously considered a DeFi protocol like Pancake Bunny, Goose Finance, just to name a few? It turns out there is another project with an even stranger name – Swamp Finance. [Can the Swamp Drown All Other dApps?] Yes, I know what you’re thinking, but don’t judge a DeFi project by its cover. After all, the two largest DeFi projects on Ethereum are called Aave (Ghost) and Uniswap. Moreover, Swamp Finance offers some very interesting economic and symbolic features that any investor will want to know. So let’s dive into this Swamp Finance review, shall we?

What are the finances of the marshes?

Swamp Finance is a yield optimizer. This allows revenue to be pooled for holders and users who have their own token, the SWAMPY token. Essentially, you provide liquidity between the two tokens on another DEX or DeFi project such as PancakeSwap, ApeSwap, or on Swamp itself. You then receive LP tokens for that liquidity, which you then deposit into the appropriate Swamp Vault pool. If you z. For example, if you provided liquidity for CAKE- BUSD on DEX PancakeSwap, deposit the LP tokens you would have received from that pair into a Swamp pool that has a CAKE/BUSD LP pool. Swamp uses a vault pool mechanism to facilitate automated harvesting and compounding and improve transaction cost efficiency. This simplifies the output process without requiring in-depth knowledge of the basic protocols that enable automation and output optimization. The project started at the beginning of April this year, so it is a relatively new protocol.

Quarries and marshy charges

Marsh lockers are designed to save the user time through efficient gas usage, frequent mixing and creative automation. When a user makes a deposit on Swamp Vault, it grows over time and they don’t have to worry about manually reinvesting their earnings. You also get SWIMMING tokens when you put your LP tokens in the swamp register. All vaults, including SWAMP vaults, have a deposit fee of 0.1%, which is then distributed to the depositors of the vaults). However, all other non-SWAMP storage facilities are subject to a 4% surcharge. 2% of the performance fees go towards buying back SWAMPs and their burn-in. 0.2% of the performance fees are used for network transactions and finally 1.8% go to platform operators.

Tokenomics and management

The native token is called Swampy or SWAMP, and the maximum total supply is only 2 million, which is pretty low for the protocol. But not all of his chips are in circulation. A total of 10,420 SWAMP coins were minted. Approximately 5,479,452 SWAMP tokens are mined per day, or 0.1902587519 per block. As mentioned above, 0.1% of the deposit money for all vaults is used to redeem and burn SWAMP chips. This means that the protocol token is deflationary. Each time someone makes a deposit into one of the vaults, the number of SWAMP tokens decreases. The SWAMP token is also the control token for the project, but users should be aware that it is not enough to buy a SWAMP token and keep it in your wallet. According to their documentation, SWAMP tokens stored in SWAMP Vault are used as control tokens. This means that a SWAMP that is in the portfolio cannot be used to participate in the administration. SwampDAO is also in development and is expected to launch in June this year. Users must have at least 1,000 SWAMPs to create new community lists.

Safety and inspection

In terms of security, the team advised all users to do their own research before participating in Swamp Finance or any other DeFi project. The Docs section of Swamp Finance’s website talks about the risks of non-permanent losses, as well as possible fraud and theft. In addition, they mentioned the risk to third parties, which they reduced by dividing the vaults into separate revenue farms. Warning users of the risks and dangers of using their protocol is certainly a good thing, but an experienced user will already know this, and many will not feel as comfortable with the warning. Fortunately, the team behind this project also conducted an audit. Swamp Finance recently passed its first TechRate audit, the report of which can be found here. They have also scheduled a second audit by Certik for the near future to provide additional assurance. Skynet is currently connected to the project and scanning it for vulnerabilities. Read his review here.

What is the roadmap of Swamp Finance?

It is good that the project is getting two audits, but does this project have the ambition and the will to succeed? What’s the plan? Is there one? You can get an idea of where they are headed by looking at their 2021 roadmap. You can see it by clicking here. As you can see, the plans for the second and third quarters are quite ambitious. [Can the Swamp Drown All Other dApps?] Although it has only been on the market for a short time, it has already achieved a lot. It can support many wallets, including Binance Chain Wallet, MetaMask, Wallet Connect, Math, Bitkeep, Onto Data Wallet, Midas Wallet and Token Pocket. The company has launched over 100 loot boxes with various exotic tokens associated with SWAMP. The 28th. In May, the company partnered with IndaSwap, allowing users to purchase SWAMP tokens using Visa, Mastercard, etc. Support for multiple languages is also planned. But that’s not all… The company also plans to set up Swampy betting pools, enter cross-chains, including entering the NFT! market. Users can download NFT Swampies from 1. Buy the month of June. This all happened in the second quarter. Plans for Q3 include a lottery, Froggy Swap integration, insurance integration, the upcoming SwampDAO, a multi-chain bridge, additional audits and the creation of an international community. In this context, let’s see how popular this protocol has become.

 

At the time of writing, Swamp Finance already has a significant following on Twitter, with around 26,500 followers. On Telegram, his group has more than 7,000 followers. Users also follow the project on Discord. This may not seem like much, but considering how new the project is, the number of followers is not bad – more and more users are joining every day.

Who is this product intended for?

This project is intended for those who wish to acquire high yielding tokens from a variety of pools and/or assist in managing the protocol.

Additional information

Uniquely, Swamp Finance has a series of video tutorials on how new users can set up MetaMask, how to buy Swamp tokens with a credit card, how to buy and withdraw BNB on Binance exchanges, how to redeem BNB for tokens and more. For a full review of the manual, click here.

Contest

Swamp Finance certainly seems to have potential, but it should be noted that it faces stiff competition from a limited number of users. There are other dApps that offer similar services and have similar features. These include Goose Finance, Partner Swap, Planet Finance, PancakeSwap and many others. In addition, many users have little or no interest in participating in project management. As the price chart shows, the Swamp token reached an all-time high of $210 shortly after launch, but the price has steadily declined since then. This suggests that users only received the tokens for a short period of time; they were waiting for the price to skyrocket so they could sell them for the project. Users who deposit their LP tokens in vaults earn Swamp tokens as rewards, but if they don’t wait to be administered, they have little choice but to confidently sell their earned Swamp tokens on the market, causing their price to drop even further. And this is not unique to Swamp Finance. This has also been the case with other Dapps. However, there is a dedicated group of followers who believe in the project and its future and therefore keep their Swamp token for the long term. Since some of it has been burned by the buyback program, basic economic logic suggests that the price will eventually go back up.

Marshland’s financial review – Conclusion

Swamp Finance is one application in a sea of others on the Binance Smart Chain. Nevertheless, its creepy little swamp monster mascot sets it apart from the rest and creates the curiosity needed for users to visit the site and find out what it’s all about. With a growing number of users entering theFi/NFT space, with its combustion mechanism and ambitious roadmap, this emerging project seems poised for a potential explosion in the near future. The company has over 100 repositories and more are in the works; it is developing a multi-channel bridge, an NFT marketplace and other features of interest to its users. As mentioned earlier, it faces stiff competition from other Dapps offering similar services and features. But with the increasing amount of value stored in his vaults, it seems that this little swamp monster has what it takes to swallow up his competitors and make them gobble it up.

Marsh Financial Review
  • Price-performance ratio
  • Sociability
  • Quality
  • Features
  • Growth potential

For

  • New project; high growth potential
  • A growing community of followers
  • Good tokonoman; burning mechanism
  • An ambitious plan for rapid expansion and mass adoption

Cons

  • Fierce competition with other DEX
  • Only offers SWAMP tokens as a reward for replenishing your LP token account.
  • a protocol with a low market capitalization; few users will be familiar with it
  • The name and logo discourage users from taking it seriously.

One of the most significant challenges facing the cryptocurrency community is building a network beyond the core dApps. How can we ensure that the meager number of dApps we have today are not dwarfed by the number of new ones being built today?. Read more about can drowned spawn in flowing water and let us know what you think.

Frequently Asked Questions

Can zombies turn into drowned with tridents?

As we here at Blockcon know, the floodgates have opened and the dApps of the world are some of the happiest and most exciting times in the crypto-craze. The constant stream of news and developers coming to the platform to build on top of the blockchain technology is truly a sight for our collective eyes. However, the dApps of the world aren’t the only exciting things happening at Blockcon, as it is not only the center of the crypto world, but has also been the place where the world met the Zombie. A recent thread on reddit asked “What is your opinion on the idea of Cryptocurrency as a DAPP? (I’m referring to the distributed applications aspect of the technology.)” I personally believe that the concept of dApps is a natural evolution of the current paradigm represented by the marketplaces of eBay and Amazon.

Can you collect swamp water in Minecraft?

A few weeks ago, a new game called Swamp was released. It’s a Minecraft-like game set in the Everglades, and it’s one of the first games to feature a decentralized app. It’s a fascinating idea – with Swamp, players don’t take the role of a character, instead, they play as the land itself. Swamp itself is a 2D multiplayer world, where you can collect water, fight and mate with other characters, and build all kinds of stuff – boats, houses, and more. Swamp water, the water found in swamps, is a vital part of Minecraft: Swampy, the popular mod that lets players build dams and waterfalls, is a homage to the game’s watery terrain. However, for all the fun players can have with the water in the game, it’s actually quite difficult to collect.

Can you turn a zombie spawner into a drowned spawner?

Although it’s been a tough year for dApps, that’s all changing, thanks to the latest update to Ethereum. Now, dApps based on the new Swarm protocol can be generated and made available to the public. Many believe that this update will be the key to the cryptocurrency’s long-term success, and will result in a proliferation of dApps being an integral part of the blockchain ecosystem. This text is sensitive. Try generating new copy.

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