Earn WAX using TACO Swap
I have a project I want to share with everyone that uses the WAX Blockchain. Before I get into this project I want to share a little about the WAX Blockchain and let everyone know what I think the pros and the cons of this project are.
WAX uses Delegated Proof of Stake (DPoS) and is backward compatible with the EOS Blockchain. Delegated Proof of Stake is an evolved version of Proof of Stake where users vote on the next delegates that will validate the next block. WAX has minimal gas fees and their transactions are almost instant. This allows it to be an easy-to-use Blockchain. This also allows it to be a good option for games and NFTs.
The price of WAX at the moment of writing this is around $0.08 with an ATH of around $4. The all-time high was at the initial release of the coin so you can not really base the actual worth of this project on its ATH.
As you can see the price was extremely high when the project was first released but then there was a large sell-off which brought it down to a steady price of $0.03 to $0.06. We had a large spike from March 2021 to May 2021 and then the price settled at around $0.07 to $0.10. This shows that people are starting to get interested in this project once again but we have not had any huge investors in a long period of time. I am not a professional at reading charts so these are just my thoughts on what is going on with the price of WAX. If I am off in any way please leave a comment and let me know what you think.
WAX was founded in 2017 and has been growing. There are multiple games and ways to earn using the WAX Blockchain. I am going to go over one of the fastest-growing projects on the WAX Blockchain called TACO.
TACO
TACO is a token on the WAX blockchain. One TACO is worth 2.00461054 WAX which is worth around $0.16. TACO has been one of the highest-growing projects on the WAX Blockchain. I am going to go over a little about TACO but I am going to focus on one main project which is their DEX (Decentralized Exchange). I will go over this part of the project right after I give you an idea of what TACO is all about.
TACO has a lot of different ways to earn and play. TACO is an NFT-based gaming project which allows you to earn TACO and Shing from their games. There is a lot to go over so I am going to just give you an idea of what they have to offer and focus on their DEX as I said earlier.
TACO has a game called TACO Universe. You can use this game to earn SHING which can be used to buy NFTs and you can also exchange your SHING into other tokens using TACO SWAP which is their Decentralized Exchange which I will be going over in just a minute. You will need to buy one of their extractor NFTs to reap the benefits of the TACO Universe.
If you do not want to invest in one of their NFTs then you can also use Brigade. Brigade allows you to earn free Shing every hour which is pretty cool. You can buy NFTs for Brigade which allows you to earn more every hour but you do not need these NFTs to start earning. You will just earn more from having them. The extractors are a little pricy so you might want to check everything out before investing close to $100 on one of these pricy NFTs. I suggest at least checking out Brigade and starting earning Shing for free. You will also be able to win free NFTs every once in a while. I have won one free NFT since I have been playing this play-to-earn game.
There is a lot to go over and I suggest checking out their website for further details and to get a better idea of what I am talking about.
TACO SWAP
TACO SWAP is what I am really excited to talk about. TACO SWAP is a Decentralized Exchange on the WAX Blockchain that allows you to swap any token on the WAX blockchain for an extremely low fee. Not only can you swap your tokens but you can provide liquidity for the projects you like the most. If you use WAX or EOS then I am sure you have heard of Alcor Exchange. TACO SWAP is even better than Alcor. There is one main aspect of TACO SWAP that makes it better which is called SALSA. You are probably asking yourself what in the world is SALSA.
S.A.L.S.A.
SALSA (Single Asset Liquidity Staked Alone) is an area on TACO SWAP that allows you to stake your TACO and earn multiple different types of tokens.
If it is hard to see the GIF above then I will explain a little about how it works. You can stake your TACO and earn an APY as high as 75% depending on which tokens you decide to receive from staking. Right now you can stake TACO and receive TACO with an APY of 28.75%. You can stake TACO and receive WAX with an APY of 31.82%. The highest staking opportunity right now is staking TACO and earning TMG with an APY of 75.22%. When I first started using TACO SWAP they had an extremely high APY for the majority of these tokens but as time goes on the amounts fall so get in while the APYs are still high.
M.E.A.L.
MEAL (Multi Earning Assets Liquidity) is a way you can provide liquidity by pairing tokens and receiving one to multiple rewards.
MEAL is TACO's liquidity area. If you have ever provided liquidity then you know the rewards and the risks this can bring you. If you have not provided liquidity before then let me give you a quick explanation of how it works.
With liquidity, you provide two tokens each equalling the same amount in value. Say you are providing liquidity for WAX/TACO. If you are going to be providing 2o WAX then you will also need to provide 10 TACO. When you provide the liquidity you are providing the exchange with those two tokens which will help the decentralization of the exchange. When someone provides liquidity they are rewarded with the fees generated by those two tokens being exchanged.
TACO's exchange has multiple different pairs you can choose from so if you decide to provide liquidity then I suggest doing some research before you choose your pair.
The risk that comes with providing liquidity is called impermanent loss. This is when either one of the tokens you are providing liquidity for changes in price significantly. This could result in your losing the funds you have invested. This of course is a risk you will have to take for high rewards and earning a passive income. Providing liquidity can be risky business but it can also be a great way to earn money. I suggest doing a good amount of research on the tokens you are planning on providing liquidity for. This way you can make the best choices in what tokens you choose and how much you are willing to invest. This is not financial advice this is just information I have learned from my personal experiences.
Conclusion
TACO is one of the biggest projects on the WAX Blockchain and it just keeps growing as time goes on. If you are using the WAX Blockchain then I suggest checking out TACO and seeing what it is all about. TACO is a great project to earn rewards and have fun while you do it.
If you have used this project then leave a comment and let me know what you think. I would love to hear other people's opinions and what they think the future holds for TACO and WAX.
I hope everyone has enjoyed this article. If you have any questions or just want to say hi then please leave a comment. I will do my best to answer questions as quickly as possible. I have been using WAX for almost 2 years now and have been enjoying the games and the returns I have earned.
Check out my website for all of my content, different ways to earn and learn about Crypto, and a bunch more. I am constantly trying to improve my website and if you have any ideas I would love to hear them in the comments. I am open to constructive criticism.
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My next article is going to be about a Real Estate investing company that is run on Blockchain technology (Algorand) and allows you to invest in fractions of Real Estate. I will make a video with this next article so I can give you a walkthrough of this amazing project and show you why I think it is a good investment opportunity.
Thanks for taking the time to read my article.
Until next time my friends!
