{"id":19374,"date":"2022-06-09T15:02:17","date_gmt":"2022-06-09T15:02:17","guid":{"rendered":"http:\/\/egrowonline.com\/?p=19374"},"modified":"2022-06-09T15:02:17","modified_gmt":"2022-06-09T15:02:17","slug":"cardano-minswap-introduces-new-feature-to-boost-liquidity","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19374","title":{"rendered":"Cardano Minswap Introduces New Feature to Boost Liquidity"},"content":{"rendered":"


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Tomiwabold Olajide<\/a><\/p>\n

Minswap’s double farm system allows other protocols to reward their liquidity providers with Cardano native tokens<\/p>\n<\/div>\n<\/div>\n

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Cardano-based DEX Minswap<\/a> has announced the opening of a new double farm. Users can now provide liquidity in the NMKR\/ADA pair and earn both MIN and NMKR.<\/p>\n

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Announcing the opening of a new Double Farm on Minswap 🚜😺<\/p>\n

You can now Provide Liquidity in the $NMKR<\/a>\/ $ADA<\/a> Pair and earn both $MIN<\/a> and $NMKR<\/a> 🔥<\/p>\n

👉https:\/\/t.co\/X9WsgeHS1p<\/a> pic.twitter.com\/63IDkMFXNF<\/a><\/p>\n

\u2014 Minswap (@MinswapDEX) June 9, 2022<\/a><\/p><\/blockquote>\n

Minswap’s double farm system allows other protocols to reward their liquidity providers with Cardano native tokens. This implies that liquidity providers who are yield farming on the NMKR\/ADA pair on Minswap earn both MIN and NMKR. MIN is Minswap’s utility and governance token, allowing users to participate in DeFi products on the platform.<\/p>\n

On Minswap, the Double Farm Mechanism works in the same way as\u00a0normal farms. The accumulated rewards in both tokens are sent and the new amount of LP tokens starts collecting rewards whenever a user stakes new liquidity pool tokens or withdraws a portion of the liquidity pool (LP) tokens staked. Instead of merely getting MIN rewards, liquidity providers get to earn an extra token.<\/p>\n

Minswap<\/a>, the first multi-pool DEX on Cardano, announced its debut on the Cardano mainnet in March, allowing its users to\u00a0deposit liquidity in exchange for rewards and to swap tokens in a decentralized way.<\/p>\n

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Ads<\/p>\n<\/div>\n<\/div>\n

Cardano’s DeFi ecosystem<\/h2>\n

Cardano Minswap is the largest of the Cardano decentralized exchanges tracked by DefiLlama, accounting for roughly half of the total value locked on the Cardano blockchain.<\/p>\n

With approximately $65.61 million in TVL, Minswap retains 45.37% market dominance. In the prior month, the Cardano-based DEX’s TVL increased by roughly 20.83%. Other Cardano DEXes\u00a0Sundaeswap, Wingriders, Muesliswap\u00a0and ADAX pro are facing increases of 30.92%, 17.23%, 579%\u00a0and 41.43% monthly.<\/p>\n

According to data from DefiLlama, the Cardano DeFi ecosystem has attracted more funds, recording a positive 24-hour change of nearly 2% in its total value locked (TVL), which is currently at $144.62 million.<\/p>\n<\/div>\n


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Tomiwabold Olajide Minswap’s double farm system allows other protocols to reward their liquidity providers with Cardano native tokens Cardano-based DEX Minswap has announced the opening of a new double farm. Users can now provide liquidity in the NMKR\/ADA pair and earn both MIN and NMKR. Announcing the opening of a new Double Farm on Minswap […]<\/p>\n","protected":false},"author":1,"featured_media":19375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[1107,266,6510,1313,2833,3763],"class_list":["post-19374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-boost","tag-cardano","tag-feature","tag-introduces","tag-liquidity","tag-minswap"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/20494.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19374"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19374\/revisions"}],"predecessor-version":[{"id":19376,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19374\/revisions\/19376"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/19375"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19374"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}