What is KingSwap? What does role DeFi Play?(Recommend to read)
KingSwap is a regulated DeFi project based out of Singapore that is introducing a liquidity pool platform with fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles. The project is based on Uniswap and set to launch in October 2020.
This time, Decentralized Finance (DeFi, so KingSwap is the best choice due to its fastness and convenience. Users can become LP (liquidity provider) for KingSwap pool by sending the equivalent value of the token in exchange for other tokens in the pool.
How does KingSwap work?
As there is no order book or any centralized party required to make trades, you might be wondering how trades happen without a third party.
Well, KingSwap works with a model that involves liquidity providers creating liquidity pools. This model provides a decentralized pricing mechanism that efficiently smooths out third party depth.
King token
King tokens are designed on High Yield Staking LP Token Model, which are given as rewards for liquidity mining. The token then allows its holders to participate and stay longer in the governance of the platform and even entitles them to rewards.
KingSwap NFTs
NFTs are Non-Fungible Tokens, and are getting increasingly popular as they can be used to tokenize practically anything that can be made distinct. Applications such as tokenizing real estate, shares in a company, educational certificates, unique and special items in games, paintings, songs, diamonds, identity, voting, loyalty programs, provenance in supply chain, financial documents such as invoices, bills etc, are why people are increasingly looking at NFTs as the next big thing in blockchain implementation.
Innovative ways of utilizing NFTs are now coming to market - one of the ways for the community to benefit from buying NFTs is being offered by the Kingswap Project, which is issuing 3 NFT tiers - their King Vamp, Queen Sparkle, and Knight Lancelot NFTs.
Buyers of these 3 types of NFTs of the Kingswap project can enjoy loyalty rewards from the $KING tokens being issued by the Kingswap project.
Buyers of the Kingswap project’s King Vamp NFTs would enjoy the top tier (60% of allocations) of rewards issued by the Kingswap project, for both their $KING tokens, as well as any future projects that wish to provide marketing campaign airdrops to promote their new projects launching on the Kingswap Decentralized Exchange.
Queen Sparkle NFT buyers would enjoy mid-tier rewards (30%) from such airdrops, and Knight Lancelot NFT buyers would enjoy basic tier rewards (10% of allocations) from such airdrops. These are some of the most cutting edge and innovative ways that the Kingswap project have come up with to reward their early adopters and loyal community members and supporters through the issuance of NFTs.
In the world of e-money, there is a fairly new concept that helps to increase the coin to the fact that investors are always looking for ways to increase their profits or increase the amount of coins they hold in the form of trading "yield agriculture" DeFi from the mentioned title, but wait to talk about it. Learn about yield farming first, then find the relevant relationship later.
Yield Farming (YF), also known as liquidity mining, is a way to generate rewards for your cryptocurrency holdings. In a nutshell, you lock your tokens and get token rewards. That's it. Stakeout!!!
However, YF works differently than staking and interacts with a liquidity provider (LP) to provide liquidity to the protocol's liquidity pool. Basically, LP is a smart contract that contains coins/tokens.
In exchange for providing liquidity, LPs will receive a reward (token). That reward can come from the underlying DeFi platform or from transaction fees generated from other sources.
For more detail KingSwap
Website : https://www.kingswap.io/
Twitter: https://twitter.com/defi_kingswap
Discord: https://discord.com/invite/fD2DrJY
Telegram: https://t.me/kingswap
GitHub: https://github.com/KingLuigy/KingSwap
Linkedin: https://www.linkedin.com/company/kingswap
