Narwhalswap is a brand new token exchange running on Binance Smart Chain (BSC), which is a second-layer of the Ethereum-blockchain, making the application much more scalable and usable for wider adoption. The interest regarding building on this protocol have skyrocketed during this summer due to the advantages compared to running applications on the main Ethereum chain. Narwhalswap is one of the new competitors to the scene that will share the liquidity between automated market makers on the Binance Smart Chain protocol. The project officially launched in September, 2020.
Narwhalswap is governed by its token called NAR, which can primarily be mined from providing liquidity to the exchange. The total supply of the token is 21,000,000 NAR tokens. What is common within many decentralized finance applications that are currently running at this moment is the fact that the token that is being farmed, does not have a max cap. However, NAR will have a max supply of 21 million tokens and nothing more. This means that farmers will have a larger incentive to keep the liquidity as the supply will become more scarce over time, rather than being overinflated. The exchange will also have additional features such as NFT minting, which has become wildly popular during this bull market, popularized by projects such as Meme and Rope.
One of the most interesting perspectives of this project is that other projects will be able to add their token for farming. The project will have to provide NLP tokens to host a farm. With the NLP token, one will be able to earn NAR as well as having use of rNLP tokens when interacting with other decentralized applications that are deployed to Binance Smart Chain. Narwhalswap will welcome new projects that seek liquidity for their trading market, in a sustainable way where adopters will be greatly rewarded through their participation on the platform. Their solution is aimed to attract more developers to take advantage of the possibilities of Binance Smart Chain and together build the future financial system.
The liquidity mining program of Narwhalswap officially launched on September 15th, 2020. A total of 80% of the total supply will be released through liquidity mining on the exchange. To earn NAR tokens, one must provide liquidity to the exchange. A halvenning of NAR will occur once a week. The following pairs can be pooled to farm the NAR token:
For more information regarding Narwhalswap’s liquidity mining program read this official Medium post.
Narwhalswap is without doubt here to stay for the long term, as the project focuses on giving project owners new and lucrative benefits when choosing this exchange as their preferred automated market maker on the Binance Smart Chain protocol. Keep in mind that this project is not endorsed by Tokenswim, and is only posted for educational purposes and token rewards. Always do your own due diligence before investing in the tokenized economy and utilizing automated market makers. If you have tried out this application, feel free to share your thoughts below with the rest of the community!
(Published by CryptoNOK)
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