Blockswap Network makes the benefits of Proof-of-Stake accessible to everyone seeking out a stable yield source. The team creates new incentives for stakers and hodlers of PoS coins by preventing volatility effects and the complexity of staking processes.
The growth of decentralized finance as an industry has been stellar. It now spans over $40 billion in liquidity, primarily on the Ethereum blockchain. Despite this growth, it remains precarious to earn a stable yield as the rates fluctuate and tokens become more volatile. Countering these negatives will lower the barrier to entry and make DeFi more appealing to a broader public.
The time has come to bring DeFi to the mainstream and a solid and safe base for fixed-income products needs to be established. More specifically, the industry needs products capable of sustaining hundreds of billions of dollars in liquidity. Blockswap Network focuses on this long-term goal by bridging Proof-of-Stake asset yield with DeFi composability.
As the first project to focus on building a long-term and fixed-rate sustainable savings product, Blockswap takes DeFi to the next level through its Open Saver Universal Basic Savings. Backed by a proof-of-stake bond market guaranteeing a USD saver account with around 7% interest from staked ETH2 and other assets.
To begin utilizing staking to redistribute wealth, BlockSwap will run a five-month incentive dubbed CommunityNet. A total of 250 million tokens – 5% of the fully diluted supply – will be distributed ahead of the BSN main net launch. Through this initiative, BlockSwap Network nurtures a foundational user base and refines the user experience of its Staking and Savings products through a “Protocol Market Fit” exercise.
In early April 2021, there will be an LBP event on Balancer, which will happen as the CommunityNet initiative comes to a close. The CommunityNet Token will go live on Uniswap after the LBP event on Balancer, with more liquidity being brought to DEXes in the months to come.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.