Snow Swap went live in October 2020 and announced that the DeFi winter was coming. Their goal was to help yield farmers to switch their assets into the highest yielding token at any time, without worrying about withdrawal fees, wrapping and unwrapping, or high gas fees. The project provided a healthy alternative of multiple liquidity pools for swapping between yield farming assets and yield-bearing stablecoins and different wrapped tokens.
The project started small but in time grew up and from few $1.60 per token reached an all time high of $169. Snow Swap grew bigger and bigger like an avalanche and the 8th of February ATH will be the pinnacle of value. It's July and many will thing is odd to talk about $SNOW in the summer, but Snow Swap is cooler than Vanilla Ice!
My first contact with Snow Swap was before the official launch, when I came across the whitepaper and the features of the first AMM to execute on a Quadratic distribution and yVault swaps looked fresh and interesting. I knew nothing about SnowSwap, but I was ready to learn. I dived into the Beta version and staked $SNOW in Frosty's Pool. The experiment was successful and I was impressed by the high APY and good return.
New pools where added and Rudolph's Pool (SNOW-ETH) had one of the biggest APY available back then. Huge partnerships fallowed, with Harvest Finance and Curve, than the Ethereum2.0 pool was added. Snow Swap was rolling and rolling! The Ultimate Guide: From Snowflake to Avalanche! contains my full winter experience on SnowSwap and a lots of meme! SnowSwap is not for snowflakes!
SnowSwap in 2021
Time runs differently in DeFi, everything runs on fast-forward. The same happened to SnowSwam, and in 2021 a lot has changed. The core team shape shifted and new members joined as old ones left. The anonymous team grew bigger and bigger! New members joined as the team worked behind the scenes to expand SnowSwap.
The third quarter of 2021 comes with completed QuantumStamp security audit and the development of new pools. The new Ethereum and Bitcoin pools are connected with Badger DAO.
The SnowSwap guide was created to help DeFi newbies to understand everything the differences between the pools, how to stake and how to yield. The guide can can be accessed at Docs.SnowSwap
The first half of 2021 was fool of achievements as SnowSwap was Listed on Gate.io and the SNOW token was included in the SCIFI Index.
SnowSwap partnership with Everest went live at the end of March, focusing on bringing institutional investments into DeFi. Everest is the world’s only device-free globally accessible transaction protocol allowing users to verify their identity for public services. Everest global banking platform includes eKYC/AML and fiat-in/out ramps was integrated into the Snow Swap ecosystem and layer2 solutions for AMM on Everchain are being explored.
The ANKR, SpaceSwap and Moonwhale partnerships added more hi-tech options to SnowSwap and the integration of 1inch exchange on platform will ensure easy swap options.
The launch of the fAssets Pool (Harvest Finance) will be followed by the relaunch of the Yearn V2 pool, many updates in the multichain AMM and the launch of the DEX on other chains. The front-end mobile app will be available soon and more analytics tools will be added.
Frosty's Pool is permafrost!
Frosty's Pool is one of my oldest yield farming experiments, the second I ever tried after Harvest Finance. It started with a handful of $SNOW and now I have my own Olaf! The APY is not as great as it was but kept stable close to 20% for the last 3-4 months.
The new updates were visible when I tried to claim my reward and stake it back, as $0.34 as transaction fee is probably the lowest you can get for a transaction on Ethererum chain.
Had to pay $7.61, which was about one SNOW at the time, to stake 3.07 tokens.
I selected the infinite approval for future transactions, and the confirmation fee will not be required. ETH fees are still a joke but I wanted to finally add all the SNOW in the pool, the earnings and some leftovers from Discord. I now have 26.63 SNOW in Frosty's Pool and the real beauty is that SNOW is a zero investments asset, as all of them where earned. Now that I have them all in one place, I will leave the pool do it's job and probably check it back in the winter, when hopefully Snow Swap will be back with a blizzard of news!
SnowSwap social media
New Telegram (April 2021)
Resources:
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I earn crypto for reading and writing on Publish0x and ReadCash, watching videos on Lbry.tv and surfing online on Brave Browser and Presearch. I use Swapzone for the lowest fee swaps
Well like always new website and New information. I am curious how you can get all these information. Well its mean you are so active in online and enough knownlage about it. I saw always you talking about new Crypto currency or new website. Like moonlighter you doing different task at a time. Lengend indeed Keep sharing i always get new things from your each Article.:)