Currently, CafeSwap is now active on the BSC and Polygon. BSC and Polygon blockchains are generally new platforms. Also, they are differentiated from the leader ledger in many ways. Mouth watering statistics shows that DeFi protocols are currently managing more than $174 billion. More so, All in diverse assets in multiple blockchains.
Notably, Ethereum boasts having the biggest share with more than $83 billion. Of course, this is due to its first-mover advantage. Meanwhile, Following next is the Binance Smart Chain (BSC) bagging $24 billion. Then, Polygon gets more than $4 billion.
CafeSwap and All You Need To Know
Notably, The integration in Polygon stopped on September 22, while official token swapping started on September 25.
Also, The launch of CafeSwap is a breakthrough feat for the DEX, with yield farming, and NFT staking protocol making proposals to declare unique solutions. This solution’s focus is on the client and seeks to improve the scene.
From the roots, CafeSwap goes live at first on the BSC. Therefore, bringing new taste to the Ethereum competitor’s expansion into DeFi space. More so, The protocol continued growing and gained traction with higher adoption. Which of course, shows by their TVL. September 26, CafeSwap TVL is comfortably sitting at over $6.8 million.
In order to continue expansion, CafeSwap adopts the AMM model as it still offers yield farming.
BREW and MOCHA – The CafeSwap Ecosystem Tokens.
Central to CafeSwap is their BREW governance token.
This means, Holders can vote for changes affecting things such as block emissions or fee sharing.
Generally, BREW token holders ascertain how the protocol will function and develop. On the other hand, CafeSwap has the MOCHA token with a total supply of 500k.
Meanwhile, the protocol’s token, MOCHA, has NFT elements and is rare to activate Dual Farming and NFT Dual Reward Booster Staking. Furthermore, MOCHA is deflationary–one percent of its total supply will be destroyed in NFT staking.
Also, Participants of CafeSwap dual staking will gain MOCHA, that’s which 5% of harvested tokens will be burned.
Cafe Swap explains also that holders of the rare token will get VIP privileges. This offer is open as to whenever they wish to invest in projects launching on their pad.
Currently, MOCHA is trading at $9.22 where as BREW is settling around $0.49.
Exponentially, BREW has a market cap of 3.6 million and a circulating supply of over 6.7 million BREW. Among which, 616,849 have been burnt.
Polygon’s CafeSwap Extension
Well, The extension to Polygon isn’t restricting because of the interoperability of the base layer—the BSC. So, the pBREW governance will power its DEX in Polygon.
Moving further, MOCHA and BREW tokens from BSC are to be shifted to Polygon via the AnySwap Bridge. This is done without any fee, so as to allow holders to cross-chain-farm. Whereas, On BSC, farming is to be possible soon through the pBREW token native to Polygon.
Additionally, CafeSwap option for Polygon is because of the state of the network. More so, Polygon maintains its interoperability with multiple chains. Which of course, includes the most active and dApp dense of them all, Ethereum.
Notwithstanding, Polygon has the advantage in transaction processing speed and scaling.
Subsequently, the smart contracting network functions on lower transaction fees, while remaining decentralized. Also, it is still one of the fastest-growing ecosystems amassing more than 60 million unique addresses. Then, over 500 hosted dApps and more than 600 million processed transactions.
Consequently, more projects with plans of building on the BSC or Ethereum are exploiting Polygon. Eating of the benefits of interoperability.
Polygon’s CafeSwap Products
As per the team, it will continue issuing common products on the Polygon.
Already, it includes the CafeSwap Portfolio product going live on September 26. So, This product will allow users to monitor their liquidity positions and also farm income in the same position. Then, CafeSwap Migrate for moving LP tokens from Polygon-based DEXes like AnySwap, SushiSwap, and others to the protocol.
Consequently, CafeSwap Trade Mining is also a new program ready for going live in Polygon. Which is expressly to encourage token swapping in the blockchain.
Conclusively, it plans to issue around 50 million pBREW to trade miners, especially for those swapping tokens on the CafeSwap DEX.
While at it, the protocol plans to host CafeSwap Trading Competition from September 27, 1300 HRS UTC. This will have traders compete on trading volumes on the pBREW-USDC, BREW-USDC, MOCHA-USDC, MATIC-USDC, and ETH-USDC pairs. This is for a chance to win Apple products and pBREW prizes.
http://cafeswap.finance
https://twitter.com/cafeswapfinance
https://t.me/cafeswap
https://cafeswap.medium.com/
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