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Introducing MocktailSwap — BSC’s First Semi-Fungible Token

1y ago
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Binance is the world’s largest crypto exchange by trading volume, and over the last several years, it managed to create a massive ecosystem. It consists of a centralized exchange, a DEX, multiple fiat-to-crypto subsidiaries on different continents, a launchpad for new tokens, and more.

Around the time when DeFi started to emerge, Binance even launched a secondary blockchain in order to offer an alternative development platform to all those who wanted a more competent network than what Ethereum had to offer. The new blockchain, dubbed Binance Smart Chain (BSC), has since seen the development or integration of multiple projects. However, there is still some way to go before it grows enough to fully parallel the Ethereum network

Still, the project is advancing at full speed, and only recently, it got its first equivalent of ERC-1155 standard semi-fungible token, when it saw the launch of the project called MocktailSwap.

What is MocktailSwap?

MocktailSwap is an AMM protocol based on Binance Smart Chain that incorporates multi-strategy yield optimization. The project is young, only launching less than a month ago, but it still comes with a variety of benefits, such as low fees, very low slippage, and aggregation via vault compounding. There are also many of the most popular DeFi functionalities, including lending and yield generating, which provide some of the highest returns 

The project’s main aim, however, is to act as the decentralized swap solution for BSC, offering a platform where users can create secured and fast decentralized swapping systems for various tokens.

In addition to all that, MocktailSwap also has its own AMM platform which was created from scratch, meaning that the project did not copy anyone else’s work. Instead, it came up with its own unique solution, which is something that users will be able to recognize as soon as they access it.

Furthermore, the project also allows its users to create and launch new tokens, thanks to its own decentralized DeFi launchpad. Launchpads created for DeFi tokens specifically have been in high demand recently, given that those offered by centralized exchanges do not do justice to DeFi protocols. This is not surprising, given that they were not designed for DeFi.

But, as of right now, the number of DEX-based platforms is very low, so the fact that MocktailSwap has its own launchpad to offer is a clear benefit.

In the near future, the project will also launch its own decentralized exchange, as well as a NFT marketplace, in response to the NFT craze that took over the crypto industry in 2021, attracting developers, artists, celebrities, sports stars, entire companies, and many others.

What other features does MocktailSwap have to offer?

MocktailSwap’s developers chose BSC rather than Ethereum for a reason. Ethereum continues to struggle with slow transaction processing speed, scalability, high gas fees, and a number of other problems. So, even though it is a birthplace of DeFi, dApps, smart contracts, and many other blockchain products, it is failing to meet the current demand, while BSC offers a much cheaper and faster alternative. Once Ethereum 2.0 launches in full, ETH network might be able to match the quality of BSC. But, until then, we will likely see more and more projects opting to choose BSC instead of ETH.

In addition to all the benefits listed already, it should be noted that Mocktail offers stable positioning of users’ assets, with little to no impermanent loss. Its yields are completely automated and maximally optimized, and the platform is 100% decentralized. It has its own native token, MOK, and those who hold it are in charge of governance over the project.

Other than that, the project allows users to trade and earn through yield farming and staking, as mentioned, which allows them to earn more tokens passively, without exposing themselves or their funds to the risk of live trading. So, in the end, all the money that users invest will end up making more money, as opposed to trading where they stand to lose their funds in a single bad move.

1y ago
bullish:

1

bearish:

0

ChainswapChainswap
0%
$0.017371
Harrison FirstHarrison First
0%
$0.001334
MocktailSwapMocktailSwap
0%
$0.003557
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