Cardano: Minswap Is Live On The Mainnet

Cardano´s DeFi ecosystem is growing and more DEXs are slowly coming to the mainnet. After Muesliswap and Sundaeswap, now it´s time for users to get familiar with Minswap.

Minswap is one of the most expected decentralized exchanges to come to Cardano. After distributing some tokens to users who delegated their ADA to participating pools, Minswap now officially launched its services.

Like Sundaeswap, Minswap offers swaps and liquidity providing to users and has a high amount of pairs to do so. For users who didn´t like the experience with Sundaeswap there´s a great opportunity to test another service on Cardano.

There are some features that distinguishes Minswap from other platforms, one of this features is ZAP, this simple feature allows users to provide liquidity without having the hassle to divide their tokens in equal amounts. When providing liquidity the user must have equal amounts of the two tokens on the pool, this is universal and it´s how providing liquidity works. The ZAP feature doesn´t remove this but makes it user friendly by doing it for you. If the user only has one token but wants to provide liquidity to a pair, he only has to choose the ZAP feature, choose the pair he wants and the ZAP will divide the tokens equally and provide the liquidity automatically. This might seem a simple feature that solves a simple problem, but this kind of features are needed to make it easier for people to deal with crypto ecosystems.

Another great feature that is coming to Minswap are farms, this feature is not available on Sundaeswap and Minswap will be one step ahead of the game in this one. Farms are used to get rewards on your LP tokens. What this means is that after you provide liquidity, you will redeem LP tokens of the pair you provided liquidity to, this tokens can be staked on a farm pool. This enables the user to collect fees on the LP pool and to collect staking rewards on the farm pool at the same time with the same amount of money invested. It´s a great way to reduce the impact of impermanent loss and to accumulate more tokens in the process. Like most services the token that will enable all of these is MIN, the official Minsawp token.

Since its launch Minswap accumulated a good amount of TVL and it´s now sitting at almost 72 million dollars locked in its service. The TVL might rise even more in the following days as more features come. The value locked on Minswap helped Cardano reach an all time high on its TVL, sitting right now at 188 million in total value locked. This means that there´s fresh money in the Cardano ecosystem.

You can visit and explore Minswap here: https://minswap.org/

Although the price of Cardano has been going down, its DeFi ecosystem keeps growing at a good rate. A lot more services are coming to the ecosystem and things might become a lot more interesting for Cardano on the next few weeks.

Best Regards,

Cryptopeach