Timechain, a leading cross-chain aggregator of decentralized exchange instruments, announced the upgrade of its own DEX platform and staking pool launch. They will work with the most popular cryptocurrencies of all aggregated blockchains.
Timechain upgrades its DEX TimechainSwap
According to the official announcement shared by Timechain platform, well known as a high-performance aggregator for Ethereum, Binance Smart Chain and Fantom, its own DEX, TimechainSwap, goes live with extended functionality.
Everything you need to know about Liquidity Providing, Farming & Staking is down below! 👀💰https://t.co/5lDrk2RB3H— Timechain (@timechainapp) January 19, 2022
Namely, with the new update released, TimechainSwap DEX will support an Automated Market Maker (AMM), liquidity pools, yield farming and staking functionality.
The launch of liquidity pools also changes the fee structure of TimechainSwap. Now, each trade will be charged with a 0.3% fee, with 0.2% returned to liquidity providers and 0.1% transferred to Timechain's TCS Buyback program.
As on other top-tier DeFi protocols, users can earn fees from providing their liquidity to TimechainSwap. Rewards will be distributed equally to the user's share in the whole liquidity pool; rewards earned can be redeemed immediately.
Here's how to stake TCS in regulated DeFi
Since the launch, five pools will be available for all traders: TCS/FTM, TCS/USDC, TCS/DAI, FTM/USDC and FTM/DAI. Initially, the yield farming program will be supported with a 20,000 TCS bonus; APY-boost initiatives are also on the menu.
Holders of TCS, a platform's native token, has one more opportunity to earn. They can stake TCS in a single-token liquidity pool SSP and earn TCS rewards periodically.
Timechain is a unique Web3 platform regulated by Canadian monetary authorities. It is also among a small cohort of crypto services with valid Money Services Business (MSB) licenses.