In 2020, the industry of DeFi projects is gaining momentum and has reached more than $14 billion in value. Nevertheless, most DeFi projects offer similar mechanics that mostly differ in the size of incentive rewards and settings. EmiSwap, one of the latest developments in the DeFi space stands out among other projects because it introduces unique farmable and tradable digital collectibles – NFT Magic Cards – that contain profit-boosting bonuses applicable for yield farming..
A non-fungible token or NFT is a type of token on a blockchain that represents a unique digital asset: crypto-collectibles, gaming units, or even some pieces of art. Each NFT has some unique characteristics that are permanent and unalterable. On EmiSwap, NFT Magic Cards are gamified profit-boosting units that can be traded, unpacked to get a special bonus, and even used to participate in tournaments and closed draws.
“NFT trading has taken off in the past months, adding another source of risk and returns for crypto enthusiasts, – says Evgheny Turvinenko, CMO at EmiSwap – But digital collectibles can be much more than just assets that can be farmed and traded. They offer a wide scope of possible gamification mechanics that foster mass adoption and promote user engagement. And that is the idea behind NFT Magic Cards by EmiSwap.”
Image: NFT trading volume. Source: https://nonfungible.com/
Being an AMM decentralized exchange, EmiSwap is one of the few projects that combines fungible and non-fungible tokens – its native ESW token and NFT Magic Cards.Both are potential sources of passive income and community participation.
ESW is a governance token that adds fairness and decentralization to the EmiSwap AMM DEX ecosystem. The ESW token holders are the actual owners of the project who have a right to get a share of profits and make decisions on future project development. No change in the EmiSwap protocol is possible without a voting procedure.
ESW tokens provide their holders with a 0,05% reward from all the transactions on EmiSwap. That means, for 1,000,000 DAI trading volume (which is roughly the same as Mooniswap’s daily trading volume), 500 DAI will be allocated to ESW holders in proportion to the number of ESW they have. Liquidity providers at the same time will get 0,25% rewards for their activities.
In December 2020, it is still building up its community through an open token sale. The first 1,000 participants are eligible to get bonus NFT cards for purchasing ESW tokens. EmiSwap will also offer a yield-increasing bonus for the early adopters – swappers and liquidity providers – that will allow for boosting users’ profits by up to 10 times. Find more details on the official EmiSwap website.