Introducing MinexSwap a high yielding Defi & Collaborative Mining Application on the Binance Smart Chain.
EDIT : 8 November 2020
This was the first article we have released to introduce MinexSwap and the project evolved / changed slightly since, please make sure you are getting the latest infos about the project.
The right time, and the right chain.
2020, has been the year of swapping protocols.
The open source Unicorn branded exchange democratized Liquidity pools and made crypto users more and more familiar with instant ERC-20 swaps.
Then came the notorious SushiSwap who forked Uniswap’s code and added some interesting features.
More clones were built, and we saw an unprecedented amount of hype and expectations during those times.
Everyone was chasing the latest coins, sometimes making bank, but most of the time users were ending up “Rug pulled” or seeing their wallet balance slowly disappear, by paying outrageous fees to interact with smart contracts.
Ethereum users were mostly disappointed with the poor experience they had while farming their favorite food tokens.
A few questions like : “is this the future of finance ?” “why is my transaction stuck ?” or “Isn’t there any other way to make this thing work ?” needed to be answered.
BSC (Binance smart chain) was then introduced.
A fast and robust parallel binance chain to enable smart contracts, a new hope for an improved user experience in the DEFI space.
- EVM Compatible
- Proof of Staked Authority
- Cross-Chain Transfer
- Cross-Chain Contract Event (Trade, Transfer)（To be supported）
- Block time ~5 seconds
Projects like BurgerSwap and PancakeSwap jumped on the opportunity and started to build on BSC.
BSC Dapp users were finally offered solutions to counter Ethereum’s high fees and slow processing times.
Minex is utilizing the best ideas from these projects, and we are adding our own original features to the mix.
Let’s move towards a community driven project were token holders can benefit from staking and providing liquidity.
Here is a first look of at our prototype. 👀
A much more complete UI will be released together with a Demo site, we are currently working with professional UX/UI designers.
Instant swaps between multiple coins on the Binance smart chain.
- Farm MINEX tokens with each swap.
- 100% of the swapping fees are sent to the mining pool, to be later mined by MINEX holders.
Users can provide liquidity in one of the available pools to start farming MINEX tokens.
A small miner tax is automatically deducted from your liquidity when staking and unstaking. (100% of the collected funds are sent to the mining pool)
Mining pool ⛏️
Users can stake MINEX to start extracting the available BNB, BUSD or any other BEP-20 tokens from the mining pool.
The more MINEX you own, the higher your share of the mining pool.
The mining pool address is public and anyone can send BNB or any other supported BEP-20 asset to that address.
Miners are able to stake a single token (MINEX) and earn multiple BEP-20 tokens daily.
The public mining pool is accumulating and distributing :
- Swapping fees
- Liquidity provider fees (Miner Tax)
- Pool donations (Any donation to the public mining pool is redistributed to MINEX holders.)
- Bonus tokens (provided by partner projects / marketing campaigns)
Hourly BNB lottery 24/7 🎟️
Every hour a random address holding MINEX will receive 1 BNB from the mining pool.
We will keep adding new features to keep the community entertained.
Minex will also have a comprehensive referral program where users can invite their friends and earn extra tokens.
The Minex advantage 💰
100% of the platform fees are accumulated in a public mining pool and distributed to MINEX holders.
Double reward system : Farm MINEX / Extract tokens from the mining pool.
MINEX owners are getting valuable coins every day such as BNB, BUSD…together with any other BEP-20 tokens available.
Example : The mining pool contains 5,000 BNB, 50,000 BUSD, 22,000 BOLT, 300 ETH & 5000 CHILIZ
Minex holders will receive a percentage of the coins accumulated, daily.
Mining rewards accumulate automatically, and users can withdraw at any time.
This is the begining of a great journey towards decentralization and collaborative mining.
Feel free to follow our social channels to see the project evolve every week until planned Q4 2020 release. 🚀
— — — — — — — — — — — -