Analysis of the ESW token following the incentive for early birds liquidity providers
The DeFi sector has been around for several years now, but it wasn’t until early 2020 that it started growing into what we know today. Initially, crypto enthusiasts were only interested in trading and investing, without much care for digital banking. This started to change as the crypto industry started to mature, especially since people now know that the crypto industry is not a bubble, and it is not going anywhere.
So, traders feel more confident about investing in tokens, locking them up, and earning rewards for keeping them that way.
This has led to countless projects offering ways to earn money through staking, liquidity providing, yield farming, lending, and other methods, and the DeFi sector exploded with projects, competitiveness, and funds flowing into it.
Less than a year ago, its Total Value Locked (TVL) was below $1 billion. At the time of writing, its TVL sits at $84.66 billion, after steady, one-year growth.
So, just like people have always been rushing to find the best-performing crypto, they are now rushing to find the project with the biggest rewards and the best offer, the most bonuses and long-term value, and more. Looking into different solutions, many have discovered EmiSwap, and are starting to approach it in quite great numbers, as speed is of the essence with this one.
EmiSwap is a brand-new cryptocurrency project in the DeFi sector. Given the sector’s competitiveness and all the noise that it has been experiencing over the course of the past year, new projects tend to have a hard time standing out.
In order to ensure that it will stand out, EmiSwap aims to attract liquidity from top pools, and in exchange, it provides rewards for the users. Naturally, to do so, the project is using its native token, ESW.
What is EmiSwap’s offer?
Before we get to what EmiSwap is actually offering, here is a brief introduction to the project. Essentially, EmiSwap is an automated market maker exchange that uses ESW as a voting token and a yield-increasing NFT Magic Cards mechanics. It is the first project in the EmiDAO ecosystem.
Its ESW token serves as a governance token, meaning that it allows holders to vote, and it also allows them to claim a share of the project’s profit, depending on how many tokens the holder has. Essentially, the more ESW tokens one holds, the greater their voting power, and the bigger the reward that they get from the project’s profits.
But, that is not the only way one can earn rewards with ESW. Liquidity providers — especially the early joiners, or early birds — get x10 rewards during a specific period. According to the project’s offer, from the 11th to the 100th day after the launch, 30,000 ESW tokens will be proportionally distributed among liquidity providers for 1 million DAI trading volume.
That is not all, however, as there are extra rewards from 11th to 40th-day post-launch, where 6,150 ESW tokens will be issued additionally per every 1,000 blocks. These funds will also be distributed among liquidity providers, depending on how much liquidity they provide.
That is still not all, as early birds also get a refund on their gas fees. EmiSwap revealed that it will compensate users for 100% of the Ethereum fees paid for any operation on its exchange. Of course, the refunds will come in ESW tokens.
In addition to the mentioned benefits aimed at liquidity providers, EmiSwap is offering benefits and bonuses for swappers, as well. According to its offer, users will receive rewards of 16 ESW for a personal turnover of 1,000 DAI. This offer will last only between the 11th and 100th day following the launch of the ESW token.
Swappers will also get gas fees refunded, just like liquidity providers. Once again, 100% of all Ethereum fees will be paid back, and once again, the funds will be returned in the form of ESW token.
However, one thing to note is that EmiSwap early liquidity provider and swap allocation fund is capped, and it can only distribute 6 million ESW tokens.
NFT magic cards for liquidity providers
We briefly mentioned NFT Magic Cards earlier, so if that caught your eye, you might be interested in learning that EmiSwap also plans to reach $100 million TVL as soon as possible. As such, it aims to encourage its community to help with achieving that goal so that everyone can benefit from the ESW price growth.
Of course, this is quite a massive goal when viewed as a whole, so the project divided it into certain milestones, or stages, such as $100,000 TVL, $200,000 TVL, and alike. These milestones will grant users Magic Cards. Basically, all those who help provide liquidity and cross every milestone will be rewarded with limited edition NFT Magic Cards, which are issued specifically for this campaign.
The Magic Cards consist of:
1 Mythic Card.
10 Legendary Cards.
40 Epic Cards.
150 Rare Cards.
300 Uncommon Cards.
500 Ordinary cards.
So, with all of this being on the table, it really is quite understandable that the project is attracting attention. All that is left is to wait and see whether or not everything will go as planned, and how quickly EmiSwap will grow.
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