What is Manyswap (MANY) | What is Manyswap token | What is MANY token
In this article, we’ll discuss information about the Manyswap project and MANY token
What is Manyswap
ManySwap is the first decentralized automated market maker (AMM) to implement the affiliate revenue sharing model on the BSC network. Users can earn 0.1% in commission on trading fees for each referral. The platform also allows users to swap tokens and create new liquidity pairs. Through adding to the liquidity pairs users can earn liquidity incentives and trading fees.
What is APY
The term “annual percentage rate (APR)” refers to the annual rate of interest charged to borrowers and paid to investors. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan or income earned on an investment.
How APR is calculated in Manyswap
Here is the detailed explanation how the APR and the rewards are calculated: first while creating any farm, we assign a allocation point to it, suppose for MANY-BNB farm we have assigned 20X, means allocation point for this pair is 2000, and the total allocation points(summation of all the allocation points)is 16800(as per the current structure while writing this).
Considering some constant parameters:
Our Block Rewards = 5 MANY per block
Allocation Point for MANY-BNB farm = 2000
Total Allocation points = 16800
Now since MANY tokens being minted in every block is 5(it is fixed) so the share of MANY token being alloted to MANY-BNB every block is calculated as:
(1ManyPerBlockAllocationPoint)/Total Allocation points = (1*5(10e18)*2000)/16800
~= 0.595 MANY tokens are rewarded per block to MANY-BNB pair
Now we calculate the accumulated MANY per share, which means for each lp token deposited, how much the MANY token will be rewarded to user:
Here is the calculation for that:
AccumulatedEarningsPerShare = (0.595 MANY)/total LP Supply
Current total Lp Supply of MANY-BNB pair(farm) = 12,847
So AccumulatedEarningsPerShare per block ~= 0.000046314
Now, to calculate how much will be your reward, here is the calculation:
Suppose the user has deposited 1000 MANY-BNB lp tokens in the farm, so the user’s reward will be:
(UserAmount * AccumulatedEarningsPerShare)
= (1000 * 0.000046314)
~= 0.046314 MANY tokens
It means user who has deposited 1000 lp tokens in the MANY-BNB farm is eligible to get around 0.046314 MANY tokens per block.
Now approx the block time is 3 seconds in BSC, which means, 20 blocks per minute and approx 1200 blocks per hour. So hourly earning of the user will be:
0.046314 * 1200 = 55.5768 MANY per hour
Which is almost 48,685.2768% Annually ROI.
Don’t confuse the APY with ROI. ROI says the return on your deposit but APY means Annual Percentage Yield which is directly proportional to the reward tokens per block and total number of farms/pools available and the price of MANY token.
Hope this is clear now. So grab the $MANY fast.
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How and Where to Buy Manyswap (MANY) ?
Manyswap is now live on the Binance mainnet. The token address for MANY is 0x2dd6c9c5bcd16816226542688788932c6e79a600. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
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.
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
You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Next step
Connect Metamask wallet to Pancakeswap Decentralized Exchange and Buy MANY token
Contract: 0x2dd6c9c5bcd16816226542688788932c6e79a600
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
The top exchange for trading in MANY token is currently PancakeSwap, CoinTiger, and JulSwap
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once MANY gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information MANY
☞ Website ☞ Website 2 ☞ Announcement ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ 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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