Timechain, a decentralized exchange aggregator and permissionless lending and borrowing protocol, has introduced Automated Market Maker (AMM) liquidity pools, yield farming and staking functionality on its TimechainSwap DEX.
TimechainSwap is best known as a DEX aggregator on the Fantom, Binance Smart Chain and Ethereum blockchains that connects to a variety of DEXs into a single platform, allowing users to find the most efficient swapping routes across each integrated platform. It is also building out its own DEX platform; adding DeFi features that aim to supply liquidity, support to its native TCS token, and promote other tokens that wish to leverage its infrastructure.
Liquidity providing, yield farming and staking are essential features for any healthy DEX, allowing users to generate passive income for securing the network and validating transactions.
The new liquidity pools will incentivize users to provide liquidity to the DEX, rewarding them for doing so with fees generated by trades on the platform, plus LP tokens that can be deposited into farming pools to generate additional returns. A fee of 0.3% will be applied to each trade, with 0.2% returned to liquidity providers and 0.1% going to Timechain’s TCS Buyback program. Users can add liquidity to available pools by providing equal value of the two tokens within the pair, receiving LP tokens that represent their share of the liquidity pool. The LP tokens will automatically earn fees proportional to each user’s share of the pool and can be redeemed at any time.
Available liquidity pools at launch include TCS/FTM, TCS/USDC, TCS/DAI, FTM/USDC and FTM/DAI.
Yield farming on TimechainSwap will allow liquidity providers to deposit LP tokens into liquidity farms and earn rewards in TCS. The liquidity farms are designed to incentivize users to provide liquidity to TimechainSwap and offset the risk of impermanent loss. Users will be able to harvest their rewards at any time.
Liquidity providers will earn a share of the 20,000 TCS per month based reward embedded into the farming smart contract, with additional rewards generated through the TCS Buyback program and APY-boosting promotional events.
Available liquidity farms at launch include TCS/FTM, TCS/USDC and FTM/USDC . We have more to come. In the future users will be able to launch their own farming pools with the tokens of their choice.
TimechainSwap’s staking feature will give users a way to stake their TCS into the TCS single asset staking pool (SSP) and earn TCS rewards over time. Stakers will receive xTCS tokens representing the share of SSP they own, with the TCS/xTCS rate accumulating over time while the number of xTCS stays unchanged. TimechainSwap will adjust the rewards dynamically to maintain an attractive yield, with additional rewards available through the TCS Buyback program and promotions.
What is Timechain?
Timechain is a Canadian registered Money Services Business (MSB) that specializes in digital asset management and DeFi (Decentralized Finance) services. It is the creator of TimechanSwap, a Distributed Exchange (DEX) aggregator spanning the Binance Smart Chain, Ethereum and Fantom blockchain ecosystems. It connects a variety of DEXs into one platform and allows its users to find the most efficient swapping routes across all integrated platforms.
Timechain is also building its own DEX with support for a range of well-known DeFi services including liquidity pools, yield farming and staking to incentivize liquidity and support for its native TCS token.