How to take advantage of genesis mining
Genesis mining is a farming period when a project just launches and there are plenty of profitability opportunities. People can usually bag a good amount of rewards when they start to farm in different pools early immediately after a project’s launch. With the launch of KSwapFinance, we have seen this was indeed happening. Let’s have a deep dive into this interesting practice.
Skyrocketing returns brought back by trading mining
The average annual percentage rate (APR) is as high as approximately 9500%, i.e., 26% daily. To be honest, this is insanely high at a first glimpse. However, please note that four days ago, the rate was at least two to three times the current level, which is incredible. The question will be why I would rate trading mining as the top 1 profitability practice. It is because of simplicity and low risks.
Simplicity means that a user don’t bother to performance any actions such as depositing assets or claiming rewards. The user just swaps the trading pairs listed on the above page and his/her rewards will be accumulating consistently in no time. Regarding low risks (or zero risks), impermanent losses and price volatility are in the scope of worries. The more a user makes swaps, the more rewarding power the user will be obtaining (the power is a measurement that calculates how many rewards a user will earn compared with the shares of others in the same pool). As long as the user keeps his/her rewards in trading mining pools, the rewarding power remains effective.
By taking advantage of trading mining, a user may obtain “free money” nearly without risks. Furthermore, if the accrued “free money” is unclaimed, it keeps growing amazingly.
Substantial returns by depositing mining
On the depositing mining page, a user earns rewards by just staking single-token assets. There is no impermanent loss, no lock-up periods, and many other constraints that are commonly introduced by other platform.
Particularly, stablecoin pools such as UDST can provide with acceptable APYs, and users don’t loss any temporal values of their stablecoins and earn KSwap Token (KST) constantly. This is hassle-free and zero risks. This is why the USDT pool is ranked the top one in terms of total value locked.
In addition, users can now stake earned rewards, KST, into the KST pool to gain multiplied profits. At this moment of writing the APR is around 1000% for the KST earning KST pool, which is equivalently 2.73% per day. However, this returns can be made even higher if a manual or automated compounding is implemented on a daily or hourly basis.
The above figure presents an unbelievable statistics. With the current APR of 1000% unchanged, if a user compounds rewards on a daily basis, an expected APY will be more than 1M%! Admittedly, this high APR may not sustain with the reduction of KST emissions and an increasing amount of stakes, but in the short or medium term, returns are still highly rewarding.
NFT marketplace — treasury hunters
An average player may choose to dump the earned “free money”, based on the belief that unclaimed rewards cannot be realized if not turned into cashes. An experienced player may see the other wary around and seek to make earned rewards, KST, more profitable. NFT is a treasure land where such goals can accomplish. Let us first check out a short communication about the NFT auction that occurred a few days ago. A top ranked NFT card was traded as an astonishing price of $10K!
The tricky part is that users can only obtain such rare cards by opening mysterious boxes or buying them from the marketplace. Mysterious boxes are currently listed with a price range between 250 $KST to 450 $KST. Most importantly, the experience player will use earned KST from depositing, liquidity, or trading mining (“free money”) to grab mysterious boxes from the market. And the following story is crystal clear: the player will make a fortune if those boxes contain NFT cards with high ranks (4–7). Please be aware that NFT cards with high ranks are empowered with high weights when staked in the bonus pool in the near future.
Genesis mining can bring more beyond these above talks. However, if you can take advantage of these mentioned strategies proficiently, congratulations! You are already among the top players in cryptocurrency mining communities.
The prospect of KswapFinance
KSwapFinance just launched five days ago, but there has already existed a number of indicators worth noting.
- KSwapFinance is ranked the top one decentralized exchange by OkLink, an official OKExChain explorer. This ranking has taken into account total value locked, 24H volumes, the number of active users, the number of transactions during the past 24 hours, and so on (https://www.oklink.com/eth/defi/OKExChain?type=dex).
- KSwapFinance locked a total value of $612 M, the second among all the projects across OKExChian ecosystem, if only only total value locked is compared (https://www.oklink.com/eth/defi/OKExChain).
- A total number of 267 trading pairs have established on the platform.
- Renowned projects in the OKExChain ecosystem have selected KSwapFinance as their exclusive partner to provide liquidity of their native tokens. Users can now trade ORG (Orange #OKExChain @orgswap) and KLD (KLend @oklend4) at KSwapFinance. More will be coming.
- KSwapFinance has established strategic partnership with Baby Doge Coin, ONTO wallet and other partnerships. Via collaborating closely with strategic partners, KSwapFinance strives to expand the OKExChain landscape progressively.
With these said, we do believe that KSwapFinance has the potential to bring first-class financial services and more world-renowned projects to current and future users.
Last but not the least, we are greatly indebted to your steadfast support during this past launching event. If you haven’t, please join our social media channels.
👉Telegram (🌎global chat): https://t.me/kswap_finance
👉Telegram (🇨🇳Chinese): https://t.me/kswap_financeCN
👉Telegram (🇪🇸Spanish): https://t.me/Kswap_Finance_SP
👉Telegram (🇫🇷French): https://t.me/kswap_finance_fr
Note: This article was written by Jay on July 31th. I am the editor and published this article a little late just at the aim of waiting for the activity for OEC projects.