CoinSwap Space just added Staking Pools with ADA Rewards to its platform
e DeFi staking features on CoinSwap’s DEX continue to grow to include several large cap reward options.
The decentralized exchange CoinSwap Space, which runs on Binance Smart Chain, said this week that its native CSS token can now be staked for rewards in ADA. With the addition of this new feature, along with earning rewards in ETH or LINK, CSS now offers three ways to stake. Users can now stake major crypto tokens for rewards, thereby limiting their financial risks as the market is experiencing volatility.
This year, CoinSwap launched on April 30th with a comprehensive suite of DeFi options. Since then, the decentralized exchange has attracted new users because of the ease of use and low transaction fees — at $0.20, they are even cheaper than PancakeSwap. CoinSwap is similar to PancakeSwap, in that it uses the Automated Market Maker (AMM) model to allow users to add capital to liquidity pools in exchange for CSS tokens.
CoinSwap’s DEX has seen many new pairs, new features, and new staking options launched since the launch. CoinSwap offers a number of different DeFi features on one easy-to-use interface, making DeFi more accessible to retail investors.
CoinSwap has several features that users can utilize to make interacting with deFi easier and quicker. For example, CoinSwap offers a mass harvest and mass stake option. These features allow CoinSwap users to instantly harvest all of the returns across all of their liquidity pools and either send them directly to their wallet or compound them by staking them on CoinSwap. As well as being easier and taking just a couple of clicks to do, this is also cheaper as all of the tokens are collected via just one transaction on the BSC.
The recent volatility in the crypto market has been particularly hard on small cap tokens. While the major tokens like Bitcoin and Ethereum are currently a little above 40% of their all time high, some smaller tokens have seen losses of nearly 97%. This is why CoinSwap is offering rewards in LINK, ETH and now ADA. The long term viability of these tokens should protect them from the heaviest losses.
Currently, as crypto might be entering a bear market, a lot of investors are seeking a place to store funds for the long term. Having the option to earn rewards in these tokens makes CoinSwap worthy of consideration for this long term storage. Another point that makes CoinSwap viable in the long-term is that CSS tokens, unlike PancakeSwaps native CAKE tokens, have a hard cap. The hard cap of 19,999,999 together with the fact that the community can decide every step of the way for the CSS to become more of a deflationary, should provide some stability through a bear market.
CoinSwap is also a rare case where as already before launch it got audited by Certik, one of the most trusted security technology companies in the blockchain industry. Certik carried out security audits of CoinSwap’s smart contracts by testing them with an industry-leading Formal Verification Tool. The audit verifies the ability for CoinSwap’s liquidity pools and staking pools to stand up to hacks.
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