Timechain DEX aggregator introduces AMM, liquidity pools, and yield farming
- Best known as a DEX aggregator on major blockchains such as Fantom, Binance Smart Chain, and Ethereum
- New liquidity pools will reward users for providing liquidity to the DEX with fees generated by trades on the platform
Timechain, a decentralized exchange aggregator and permissionless lending and borrowing protocol, has introduced staking, yield farming, and Automated Market Maker (AMM) liquidity pools on its TimechainSwap DEX, Bankless Times learned from a press release.
A well-known DEX aggregator on major blockchains
TimechainSwap is best known as a DEX aggregator on major blockchains such as Fantom, Binance Smart Chain, and Ethereum. It links to a variety of DEXs, building a single platform and letting users find the best swapping routes.
Timechain is also creating its own DEX platform and adding support to its native token, TCS, and to DeFi features that aim to supply liquidity. It is promoting other tokens that wish to leverage its infrastructure as well.
Five LP pairs available at launch, more to follow
The new liquidity pools will reward users for providing liquidity to the DEX with fees generated by trades on the platform. Moreover, they can deposit LP tokens into farming pools to generate additional returns.
Users can add liquidity to available pools, where they will receive tokens that represent their share of the liquidity pool. The LP tokens, which can be redeemed at any time, will automatically earn fees according to each user’s pool share.
At launch, liquidity pools available include TCS/USDC, TCS/FTM, TCS/DAI, FTM/DAI, and FTM/USDC.
Liquidity farms offset risk
Through yield farming on Timechain’s DEX, liquidity providers can deposit tokens into liquidity farms and earn rewards in the platform’s native token. The goal of the liquidity farms is to give users an incentive to offset the risk of impermanent loss and provide liquidity to TimechainSwap.
It will be possible to use rewards at any time.
Many ways to earn rewards
Liquidity providers will have all kinds of rewards available to them, including ones generated through the TCS Buyback program and APY-boosting promotional events. They will also earn a share of the 20,000 TCS per month based reward integrated into the farming smart contract.
At launch, the available liquidity farms include TCS/FTM, TCS/USDC and FTM/USDC.
Adjustment to ensure attractive yield
TimechainSwap’s staking function will allow users to stake their TCS tokens into the single asset staking pool (SSP) and earn TCS rewards over time. The TCS/xTCS rate will accumulate over time, while the number of xTCS will not change.
Stakers will receive xTCS tokens representing the share of SSP they own. To ensure a satisfactory yield, TimechainSwap will adjust the rewards dynamically. The TCS Buyback program and promotions will be among the sources of additional rewards.