Welcome to the world of decentralized finance. In an era where blockchain technology is on the brink of global adoption, the financial sector has been transformed into a digital gold rush. The use of algorithmic smart contracts and decentralized applications together has created a new frontier of financial control.
The ability for you to choose when and where you lend your funds and for what amount of interest is the next passive income gold mine.
The Future of Crypto is in Yield Farming
Welcome to the world of staking and yield farming. Welcome to BenSwap – the brainchild of inspiration from the legendary Elon Musk and Ben’s ancestor, dogecoin. It is a decentralized community experiment on the Binance Smart Chain designed to give the everyday person access to bank-level returns on their funds as well as help animals all across the world.
Part of the BenSwap fees goes to helping shelters afford more resources to find more animals a home quicker. So it’s a win-win – you get to earn through staking and farming, and part of the usage fees go directly to helping animals.
Now how is this possible, you might ask? Well, it’s achievable through staking and farming – some of the new ways, other than mining, that provide you with passive income opportunities to build on your existing crypto assets.
Staking is where you lock your holdings to the smart contract; this stabilizes the token price and adds increased security to your investment. Unlike the energy-fueled proof of work model – where you spend hardware power to confirm transactions – with staking, you only need to lock up your assets to earn.
BenSwap has a “Farm page” and a “Pools page” that allow you to provide liquidity and stake LPs. As a reward, you earn our native farming token $Gben or Golden Ben through emissions paid out at an Annual Percentage Yield (APY) rate.
The BenSwap ecosystem has two tokens – $Ben and $Gben.
$Ben is your deflationary utility token designed to burn over time through transactional burns. It can also pair with other coins such as BNB to make Liquidity Provider (LP) tokens and farm for $Gben. Since it is deflationary, the amount of $Ben will decrease over time on its own, bringing immense value to early investors and new investors alike.
The other coin, $Gben, is the powerhouse of BenSwap. All farming and staking rewards you with $Gben. The token will be burned with buybacks from deposit fees, eventually making it very rare, hence, increasing its value exponentially.
Now, what is farming? Well, farming is when you provide liquidity to the exchange by pairing two tokens together. Yield farming has helped the DeFi sector market cap to grow by over $10 billion in the last few years. From lending crypto assets in a permissionless environment to high APYs, yield farming has many glamorous features.
You are rewarded for yield farming by collecting a percentage of the trading fees of the liquidity pool you have provided. The reward is based on the percentage of the pool your liquidity makes up, as well as, $Gben emissions for providing increased stability of $Gben’s price. Even better, your returns’ APY value rises as more LPs fund your related smart contract liquidity pool.
BenSwap’s Deflationary and Scarcity Tokenomics
How about tokenomics? Any crypto or stock market investor will tell you the importance of understanding how the value of an asset will change before investing in it. In crypto assets, this is referred to as tokenomics.
Some key factors considered in tokenomics include understanding how a token will be used, the number of tokens in circulation, and how many will exist or end up burned in the future.
BenSwap intends to act as an incubator to the ever-increasing number of dog coins and meme coins through yield farming, the Initial Ben Offering, and well-laid deflationary features.
Our ecosystem follows deflationary tokenomics – 2% tokens of every transaction are burned. While there are one quadrillion Bens in supply, 50% of the tokens are burned, and the other half has added as initial liquidity to PancakeSwap v2.0 and has become 700 million LPs.
Our platform has a well-mapped deflationary schedule. For starters, only 10 million LPs can be removed at any time. Here’s the schedule;
- 10 million LPs will be removed every month for the first 11 months.
- 80 million LPs will be removed on the 1st anniversary.
- 100 million LPs will be removed on the 2nd anniversary.
- 100 million LPs will be removed on our 3rd anniversary.
- The rest 400 million LPs are locked forever
As more tokens are burned and $Gben bought back with deposit fees, we slow down token inflation and help our early investors earn more per token share.
BenSwap’s Automatic Market Maker and NFT Farming
We have our own Automatic Market Maker launched; hence anyone can provide liquidity for paired assets at any time. We are also in negotiations with a major liquidity provider – as we increase our DEX liquidity by onboarding more coins, you’ll soon use the BenSwap DEX for all transactions.
With the BenSwap DEX charging the lowest trading fees among popular exchanges on BSC, the platform is likely to attract more traffic, increasing its liquidity – even more interesting, 0.17% of the transaction goes to the liquidity providers.
Besides, our NFT marketplace is in the works, and soon we will have collectible NFT cards of each dog species available with plans to integrate NFT farming. Part of these transactions’ fees will consistently go to funding animal shelters across the globe, increasing throughout the year.
Similar to Dogecoin, BenSwap is all about bringing fun to the crypto world and making profits while at it. Even better, our profits are donated to charities for dogs all around the world. We believe we are the number 1 yield farm for dog lovers today as we let you earn $Gben and stake it on liquidity pools for even more tokens. It doesn’t get any better for dog lovers looking to try out yield farming!