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Flano Swap Potentially The First to Lead DeFi on Cardano
Flano Swap is a decentralized application (Dapp) that provides:
automated market maker (AMM) decentralized exchange (DEX) with yield farming
non-fungible token (NFT) marketplace
maybe more in the future
on the Cardano (ADA) ecosystem. I am sorry to say that Cardano's development is very slow compared to other decentralized finance (DeFi) ecosystem but that is because Cardano really tries to consider everything that includes regulation and security built using Haskell code, and at the same time scalability and privacy for the individual users. Cardano even started from a peer-reviewed academic research and the team are highly respected researchers and scientist in the academic background which is very unique compared to most projects. Still, Cardano is completely open source and patent-free.
With Alonzo hard fork on September 12, Cardano's smart contract is finally live on mainnet. If Flano Swap executes this well, it will be the first AMM DEX with yield farming on Cardano blockchain just like Uniswap on Ethereum. The question is, will Flano Swap repeats itself like Pancake Swap? In my opinion, history cannot be repeated in the same way. back then there are no cheap AMM DEX yield farming where on Uniswap I remembered on average $50 per transaction. Finally Pancake Swap came with $0.1 per transaction and lower class investors can participate which was one of the reason of the bull market. Today, there are many DEXs alone in Binance Smart Chain, and many other ecosystems. Therefore, cheap and fast transaction can logically be not the reason for Cardano's Flan Swap to start a new trend.
However, history can repeat in a different way. The hype can be huge on Flan Swap not because of cheap and fast transaction but because of Cardano. Cardano that is very late in the DeFi game and smart contract not even released yet have a huge community that the market capitalization during the writing of this article rose to the top 3 only below Bitcoin and Ethereum.
Just click this link https://flanoswap.finance/invite/lnvmlQeCDt and register, that is it. At the time of this writing more than 16000/20000 users have grab the airdrop, it will run out soon, do you want to miss it like Pancake Swap? If you are an experienced DeFi user, that is all. You probably do not need to read further as they following contents are for new users in DeFi.
DEX: an exchange that decentralized that runs peer to peer where as long as one node is up, the exchange will not shut down, and as long there is node that we can connect, we can trade, and today DEX is very popular because no long time know your customer (KYC) verifications and withdrawal requests, just hold ADA in our wallets.
AMM: trading reduced to few clicks because no traditional order book that we need to place buy or sell limit for liquidity.
Yield Farming: for AMM to run needs liquidity providers, so they are paid with percentages of the trading fee and yield farming further rewards them with FLAN and other tokens.
For projects who seeks to debut by providing initial coin/token/dex offering on Flan Swap for exposures. Before there are launchpads, project teams have to provide their own system and marketing for the release of their tokens. Flan Swap provides the system for them and gives extra marketing where Flan Swap will market to its followers.
NFTs are proof of ownership of a digital product. In term of arts, NFTs are signatures of the artist. In terms of gaming and other advanced system, NFTs are tokenized digital items where in the past, it was complicated to sell items and characters where sometimes we to sell our whole accounts. With NFTs we can send items and characters just like sending any other ADA tokens.