What is FarSwap (FAR) | What is FarSwap token | What is FAR token
In this article, we’ll discuss information about the FarSwap project and FAR token
What is FarSwap?
FarSwap is a software running on ethereum Blockhain that seeks to incentivize a network of users to operate a platform where users can Lend, borrow, buy and sell Crypto assets and earn massive rewards.
FarSwap is the first decentralized platform to give rewards to lenders and borrowers on the platform.
FarSwap is an automated market maker (AMM) decentralized exchange (Dex) given by community vote. Users get 50% of the generated.
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FarSwap Farming
Earn a minimum 55% APY
unstake anytime you wish.
FarSwap Lending and borrowing
Lend and Borrow without KYC Get rewarded with Far token whenever you lend or borrow on FarSwap platform.
FarSwap is a protocol that reward participants extensively for their activities in an algorithm autonomous ecosystem without KYC.
FarSwap distribute 50% trading fee to Stakers and liquidity providers on FarSwap platform.
FarSwap lending and borrowing
Get rewarded each time you lend or borrow on our platform. Pay back loan with FAR and get %2 repayment discount plus other rewards when you pay back loan with Far token.
Incentives for liquidity providers
Uniswap makews it possible for liquidity providers only earn transaction fees from the fund pool when they actively provide liquidity. Once they withdraw funds from the pool, they will no longer receive that passive income. In addition, as agreements become more and more popular, even though they are early liquidity providers, they still face being joined by large funds, exchanges, mining pools, and other (larger and richer) stakeholders to join the agreement, which will The risk of earnings dilution.
In FarSwap, liquidity is provided to the fund pool, and FAR tokens can also be rewarded. However, unlike Uniswap, even if you decide to no longer provide liquidity, the FAR tokens you get will also entitle you to continue to receive a portion of the fees in the FAR agreement. As an early miner involved in providing liquidity, you will become an important stakeholder in the agreement.
Income you receive from your investment in the mining in the LP ( provides flow mobility) the number of tokens proportional to the total number of coins on behalf of the LP. Unless you continue to increase the provision of liquidity, your holdings and corresponding reward income will gradually be diluted as the capital pool grows.
Incentives for Lenders and Borrowers
Far lending and borrowing platform is developed and programmed for users to receive FAR token for reward anytime they lend or borrow cryptocurrency on the platform. users earn 2 %additional bonus when they choose to pay back loan with FAR token. users can stake the rewards they earn on FarSwap to earn more FAR token or exchange the FAR token to usdt. users is requird to lock certain amount of FAR token befor they can borrow funds on the platform. No KYC is needed for this operation. Lend and borrow with little or no fee in return. users can also borrow or lend any crytocurrencies of their choice.
Token distribution
We know that many of us are existing liquidity providers in the Uniswap pool. Based on this situation, we have designed a token distribution mechanism to make it as easy as possible for existing Uniswap liquidity providers to migrate to our agreement!
In order to be able to start providing liquidity and obtain FAR tokens, anyone who holds Uniswap LP tokens can put these LP tokens in the corresponding initial pool list. Once this operation is completed, they will start earning token rewards after the block height of 287349823 . The list of LP tokens can be added by way of governance voting on the chain. Therefore, this will be a decision made by each of us .
In each block, 10 tokens will be created . These tokens will be evenly distribute
to the miners in each fund pool.
However, the number of FAR tokens generated in the first 200,000 blocks (about 2 weeks) will be 10 times the usual amount, that is, 100 SUSHI tokens will be rewarded in each block.
This is also to motivate the early farmers and participants of the agreement, and to provide assistance for liquidity migration.
The amount of FAR/WETH pool is twice that of others, so you are welcome to put your FAR tokens into the fund pool of uniswap to get more “delicious”. After FAR is online, the community can vote to add more mining pools or change the FAR weight of any pool. How to change, you decide!
Reward distribution
According to the current Uniswap configuration, 0.3% of all transaction fees in any pool will be distributed proportionally to the liquidity providers in the pool. In FarSwap, 0.35% goes directly to active liquidity providers, and the remaining 0.08% will be exchanged for FAR(obviously through FarSwap) and distributed to FAR token holders.
Protocol usage
At the protocol and smart contract level, SushiSwap and FarSwap share the same interface. This means that if your protocol is currently compatible with Sushiswap, integration with FarSwap should be relatively simple. We will start integrating FarSwap with various DeFi and other ecosystem tools.
Security audit
Safety is very important to us. We have done unit testing as much as possible and tested everything that can be done on the testnet.
The contract you are about to review will contain all the content in the FarSwap smart contract repository, which is available from https://github.com/FarSwap FarSwap-repo • GitHub and is currently available for review.
At the same time, MasterChef’s “agricultural” contract is unaudited, but for most Solidity developers, it is simple. Before you use LP tokens, please read the contract carefully! Everything is in the beta, please do so at your own risk.
Total Details
Token Name : FarSwap
Symbol : FAR
supply : 50,000,000
Decimal : 18
Token Distribution
We know that many of us are existing liquidity providers in the Uniswap pool. Based on this situation, we have designed a token distribution mechanism to make it as easy as possible for existing Uniswap liquidity providers to migrate to our agreement!
In order to be able to start providing liquidity and obtain FAR tokens, anyone who holds Uniswap LP tokens can put these LP tokens in the corresponding initial pool list. Once this operation is completed, they will start earning token rewards after the block height of 287349823 . The list of LP tokens can be added by way of governance voting on the chain. Therefore, this will be a decision made by each of us .
In each block, 10 tokens will be created . These tokens will be evenly distribute
to the miners in each fund pool.
However, the number of FAR tokens generated in the first 200,000 blocks (about 2 weeks) will be 10 times the usual amount, that is, 100 SUSHI tokens will be rewarded in each block. This is also to motivate the early farmers and participants of the agreement, and to provide assistance for liquidity migration.
The amount of FAR/WETH pool is twice that of others, so you are welcome to put your FAR tokens into the fund pool of uniswap to get more “delicious”. After FAR is online, the community can vote to add more mining pools or change the FAR weight of any pool. How to change, you decide!
Reward distribution
According to the current Uniswap configuration, 0.3% of all transaction fees in any pool will be distributed proportionally to the liquidity providers in the pool. In FarSwap, 0.35% goes directly to active liquidity providers, and the remaining 0.08% will be exchanged for FAR(obviously through FarSwap) and distributed to FAR token holders.
Protocol usage
At the protocol and smart contract level, SushiSwap and FarSwap share the same interface. This means that if your protocol is currently compatible with Sushiswap, integration with FarSwap should be relatively simple. We will start integrating FarSwap with various DeFi and other ecosystem tools.
Security audit
Safety is very important to us. We have done unit testing as much as possible and tested everything that can be done on the testnet.
The contract you are about to review will contain all the content in the FarSwap smart contract repository, which is available from https://github.com/FarSwap and is currently available for review.
At the same time, MasterChef’s “agricultural” contract is unaudited, but for most Solidity developers, it is simple. Before you use LP tokens, please read the contract carefully! Everything is in the beta, please do so at your own risk.
IEO Price: 0,0003 ETH
Smart contract
0xe8b2a3f60697f3c56fca44a9616b91fc9b99f98f
Official site: https://farswap.com/
Email: info@farswap.io
Farm WebPage: https://farswap.io
Twitter: https://twitter.com/Farswap_defi
Telegram group: https://t.me/FarSwap_Global
Github: https://github.com/FarSwap-repo
Medium: https://farswap-com.medium.com/
Instagram: https://instagram.com/farswapofficial
Discord: https://discord.gg/CKzhQWQrWW
Reddit: https://www.reddit.com/user/farswap_defi
Cryptotalk: https://cryptotalk.org/topic/346345-ann-defi-lend-borrow-with-out-kyc-and-get-rewarded-with-far-token/
Bitcointalk: https://bitcointalk.org/index.php?topic=5314080.0
Facebook: https://www.facebook.com/groups/494288034899181
Linkedin: https://www.linkedin.com/groups/12503610
How and Where to Buy FarSwap?
FarSwap has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FarSwap.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since FarSwap is an altcoin we need to transfer our coins to an exchange that FarSwap can be traded. Below is a list of exchanges that offers to trade FarSwap in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase FarSwap from the website: FarSwap.
The top exchange for trading in FarSwap token is currently …
Find more information FarSwap
☞ Website ☞ Website 2 ☞ Explorer ☞ Explorer 2 ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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