A Guide To KuSwap On The KuCoin Community Chain (KCC)
KuSwap is the first Automated Market Maker built on the KuCoin Community Chain (KCC), and it launched in June 2021 on its Launchpad, which also happened to be the first KuCoin Community Chain (KCC) crowdfunding.
The main goal of KuSwap is to increase decentralized global adoption by expanding the utility cases for KUS.
KuSwap Exchange
KuSwap’s Exchange is a non-custodial, decentralized exchange (DEX) that allows users to trade without handing control or custody of their tokens to other parties. Liquidity pools, which let users can earn money by providing liquidity for a pair of assets, are used by the decentralized exchange. Liquidity providers only get a small portion of the transactions (0.1 per cent).
How to provide liquidity to KuSwap
You already know the drill if you’ve used any AMM before. You must first contribute liquidity to the exchange before you may farm KUS.
Select Liquidity from the menu on the left sidebar, then Add Liquidity and choose the token pair you wish to deposit. Click HERE to find out more information.
Farming
Yield Farms on KCC — KuSwap Farms offers a variety of farming alternatives. By staking your LP tokens and swapping for more KUS tokens, you may earn more than 2x the KUS rewards in swap transactions.
So, now that you’ve obtained your LP tokens, it’s time to stake them in order to obtain KUS. Choose the option that corresponds to your LP tokens under the Farms tab.
Staking
You can stake KUS in SYRUP pools once you have it. When you click on the Pools page, you’ll see a list of pools where you may stake your KUS.
You must once again authorise the withdrawal of your tokens. To do so, click Approve KUS. After that has been approved, you must decide how much KUS you want to stake.
You’ll be earning the pool’s reward token passively now that the KUS has been staked. Harvest is where you may cash out your rewards if you want to.
NFT Marketplace
KCC NFT Marketplace allows you to buy and sell NFTs.
Is Kuswap A Secure Platform?
CertiK certified KuSwap.
Is this to say that it’s fully risk-free? No. Even for audited and highly reputable projects, depositing money into a smart contract always carries the risk of bugs. Never risk more money than you can afford to lose by making a deposit.
Final Thoughts
KuSwap is the largest Automated Market Maker (AMM) project on the KuCoin Community Chain (KCC), and it includes various features.
Social Networks
Discord: https://discord.gg/H5ucJydSyd
Twitter: https://twitter.com/KCCOfficialTW
Telegram NG: https://t.me/KCCOfficialNigerianCommunity
Telegram: https://t.me/KCCOfficialEnglishCommunity
Telegram Channel: https://t.me/KCCOfficialChannel
