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Blockchain

TON Swap DEX Unveils Long-Term Farming Program

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Tallinn, Estonia–(Newsfile Corp. – October 28, 2021) – Broxus, one of the leading developers of the FreeTON network, has announced that they have made key updates to TON Swap, the FreeTON powered DEX. The most significant changes are centered around the platform’s farming offerings, which will be given expanded parameters in conjunction with the sustained growth and increase in liquidity the platform has experienced.

Since the project’s early days, an ecosystem has crystallized around the network and its TON Crystal token, structured in large part by Broxus and other developers working to translate the unique capabilities of FreeTON into use cases that can be enjoyed by everyone. One of the brightest stars in the FreeTON constellation has been TON Swap, the platform’s Broxus-powered DEX.

Recently, Broxus has completed an overhaul of the exchange, rewriting the exchange’s frontend while also making it much easier to use by adding a bevy of relevant market and token data. In addition to the exchange’s overall upgrade, Broxus has announced that it has expanded the parameters of one of the exchange’s central features in its farming program.

Infinity Pools and Vesting

Due to prolonged growth and internal dialogue in the FreeTON community, Broxus has structured a long-term farming program on TON Swap. Central to the program are the new additions of infinity pools and vesting.

With infinity pools, farming pools are now capable of operating without set time limits. While there is no end date for farming, farming speed can be changed without having to create new pools. As it stands now, farming speed can be changed at intervals of a minimum of once every two weeks. While this update is being introduced, the platform’s main WTON mining pools will remain unchanged for the next month, and token rewards will continue to be those that are specified by the pool.

Vesting is a means of managing excess supply in the market created by increases in Total Value Locked (TVL) and farming speeds. Vesting is an additional option for farming pools with set parameters on the percentage of tokens allocated for vesting and the duration they can remain that way. Vesting lasts for a period of 120 days and 50% of the rewards are unlocked by day 110. Over the course of 120 days everything will be unlocked. Two new parameters, vesting ratio and vesting period, have been added to the vesting protocols, along with two new designations pertaining to user data: entitled and unclaimed.

Beyond that, in connection with the Crystal Handshake program that is working to bring promising DeFi projects into the FreeTON ecosystem, there are a number of new tokens that are slated to be added to TON Swap, which will further expand the DEX’s farming capabilities. Among the projects expected to join TON Swap are:

  • FRTN (gaming industry, tip-3)
  • EUPI (stable euro, tip-3)
  • BDCC (gaming industry, binance ecosystem)
  • FRAX (fractional-algorithmic stablecoin system based on ETH)
  • Chatex (DeFi crypto bank)
  • A bundle of tip-3 projects from the FreeTON ecosystem
  • A bundle of projects from the ETH ecosystem

These changes come as TON Swap has established itself firmly at the center of the FreeTON economy. Currently, there is more TON liquidity on TON Swap than there is on all of the industry’s CEX’s combined and total trading volume on TON Swap is nearing the equivalent of $60 million over its existence. Farming has played a central role in the flourishing of the exchange, and long-term farming in particular. The new changes and expansions to the farming program will see those figures continue to rise and more projects getting involved and adding to the already diverse FreeTON economy.

About FreeTON:

FreeTON is a fast, secure and scalable network with near-zero fees, which can process up to a million transactions per second thanks to its unique dynamic sharding technology. As a development built off of the Durov brothers’ original TON concept, the FreeTON blockchain is designed to facilitate the widespread adoption of decentralized solutions by lowering the price and complexity entrance thresholds. The ecosystem features a number of products, including TON Swap Decentralized Exchange, the main DeFi ecosystem wallet Crystal wallet and bridges with other blockchains.

Media Contacts
Name: Lily
Company name: Broxus
Email: [email protected]
Website: https://tonswap.io/swap

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101134

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Move and earn leader STEPN drops new app and gaming token

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FSL, the global gaming and development studio behind web3 lifestyle app STEPN, NFT marketplace MOOAR, and social-strategy game Gas Hero, has officially announced the launch of STEPN GO. The new product is a social lifestyle app that rewards your daily movement and social interactions. Today marks an exciting milestone with the release of the STEPN GO Whitepaper and Tokenomic model. The game introduces a new token, GO GAME TOKEN (GGT), which users can earn by walking, jogging, and running with digital NFT Sneakers. There will also be a PvP game feature that allows users to earn GMT, the FSL Ecosystem token.

The original STEPN app was launched in 2021 and remains the world’s leading ‘Move and Earn’ application, pioneering the genre of gamified web3 fitness applications. With over 5.6 million registered users and over 1 million Sneaker NFTs owned by players, STEPN achieved monumental success, acquiring a global community. STEPN has partnered with prolific brands over the years including ASICS, Steve Aoki, and most recently adidas. STEPN was also the first blockchain gaming app to integrate Apple Pay, creating a seamless onboarding experience for web2 native users.

Yawn Rong, Co-Founder of FSL commented, “The STEPN community has been requesting social features within the app since the early days of STEPN. Therefore, we’re so excited to reveal these new features, which will propel STEPN GO into mainstream adoption. In addition to the Haus Mechanism and Interactive Map, we will also implement PvP elements within the app. Community is at the heart of everything we do at FSL, and we are ecstatic to announce this monumental milestone today, reinforcing our commitment to empowering and engaging our users.”

Building on the success of STEPN, FSL has designed unique social features within STEPN GO. The first key social element is the ‘Haus System’, which is a lending system that allows users to share their Sneaker NFTs with friends and family members who are new to the app, and split their earnings. This system will enable easy onboarding for new users to enjoy the app and kickstart their fitness journey. Another unique feature will be the ‘Interactive Map’, which will allow users to see other players’ avatars and even add them as friends within the platform. This Interactive Map will also allow users to drop messages that can be found by other players out doing STEPN GO runs.

Jerry Huang, Co-Founder of FSL added, “With STEPN GO, anyone can onboard their friends and family to web3 without needing to create a wallet or even buy NFTs. Exercise will be more fun and rewarding. We will combine fitness with many enjoyable experiences, including having your own customizable avatars with unique outfits!”

The Alpha Version of STEPN GO is set to launch by Q3 2024 with a Sneaker NFT Alpha Prize Draw lasting one month. A total of 3,000 Sneaker NFTs will be distributed within the app. To enter, users will be required to lock GMT. Access to the Alpha Prize Draw will be limited to FSL ID users, ensuring the most loyal FSL community members are rewarded. An additional 2,000 Sneakers will also be given away via the STEPN X account and STEPN GO Discord. Make sure to follow STEPN on X for your chance to win a Sneaker and gain early access.

The post Move and earn leader STEPN drops new app and gaming token appeared first on HIPTHER Alerts.

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Blockchain

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Blockchain

Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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