It was announced that Crypto.com is recently making plans of entering into the decentralized finance with the launch of the DeFi Swap platform.
The website Crypto.com presently deals in trading crypto as well as payments facilitation with the platform boasting of customers across the globe. The DeFi Swap platform can be a fork from the famous decentralized exchange, Uniswap.
This information was circulated in the news last Friday; it was contained in the white paper. Aside from the fact that the website will have different designs, another significant difference between the two platforms would be the tokens listed. Additionally, the firm stated that the incentive that would be gotten on the platform would be its native token which is CRO.
Clients that post with the platform’s native token will be qualified for rewards
It was announced in a statement by the crypto exchange that clients that stick with their native token on the DeFi Swap platform would be entitled to massive rewards. The rewards will, in turn, be distributed among the members on the platform daily.
As of now, the higher the prize of the user owns, the higher the reward that the user will get. It means that the yield may be increased yearly on the platform. At the moment, the minimum pricing in the platform is 1,000 CRO which is said to be compared to $160.
The new DeFi Swap platform will reward users with 1000% yield in two years.
The rewards that a user may earn will be subjected to a vesting period ranging from 30 – 90 days depending on the amount staked. With this help, the system may be able to determine if the amount staked is over or under 100,000 CRO, which is similar to $16,000.
As it is progressing, the new DeFi Swap platform is not bringing anything new to the table as projects are at present using the same reward system in the yield farming sector. If this went thru the plan, then a 1000% yield can be expected for someone that invests 500,000 CRO for the next two years.