Nomiswap: A DEX with Team Farming and Zero Swap Fees
Decentralized exchanges (DEXs) have become quite popular over the past few years. These platforms allow users to swap cryptocurrencies and make other transactions quickly without giving up control of their funds. These transactions are processed through self-executing codes known as smart contracts, eliminating the need for an intermediary or custodian.
Aside from facilitating the seamless exchange of crypto assets, DEXs offer investors opportunities to earn passive income through different methods such as yield farming, staking, and launchpads.
Although more than 35 decentralized exchanges already exist, new platforms are being launched with advanced features to broaden the earning opportunities for users. One of the latest DEXs in town is Nomiswap, and the platform promises to offer more to traders!
What is Nomiswap
Nomiswap is a decentralized exchange launched in early 2022 to allow users to trade and swap crypto assets with the ability to pay 0% in swap fees. The platform offers other services such as farming, team rewards, and CeDeFi.
The platform is deeply integrated with Nominex, a centralized crypto exchange established in 2019. Nominex is an official partner in the Binance Brokerage Program, which allows the exchange to leverage Binance’s high liquidity and market depth.
According to DefiLlama, Nomiswap is a top-5 DEX by total value locked (TVL) on BNB Chain. The platform is also one of the top 40 DEXs by trade volume on CoinMarketCap. Although Nomiswap currently supports tokens built on BNB Chain, the platform plans to integrate other blockchains to become a multi-chain DEX.
Features of Nomiswap
Up to 0% in Trading Fees
Nomiswap charges a minimal 0.1% in trading fees. However, unlike many DEXs, Nomiswap redistributes the revenue it generates from transaction fees to users through cashback and rewards through its native token, NMX. In other words, when Nomiswap users pay trading fees for swaps, the exchange returns up to 100% of the money through NMX, depending on the farming level. With this, users can pay up to 0% in trading fees when they swap tokens on the platform.
Nominex/Nomiswap CeDeFi Ecosystem
Centralized decentralized finance (CeDeFi) is a concept that combines some elements of traditional finance with DeFi, giving users the best of both worlds. CeDeFi allows investors to explore DeFi products such as DEX, yield farming tools, and liquidity aggregators, but with the security and assurance of a CeFi platform.
Nomiswap users can explore CeDeFi opportunities and earn passive income, thanks to the platform’s deep integration with the Nominex centralized exchange.
Utilitarian Farming and Staking
This feature allows users to earn extra referral rewards and more trading fee cashback. However, the size of the reward depends on the user’s farming level. There are five farming levels on Nomiswap, and each level is determined by the size of the liquidity added to liquidity pools. The lowest level requires users to deposit less than 100 USDT, while the highest level requires users to deposit more than 10,000 USDT. The farming level can only be upgraded by adding liquidity to “level up” pools.
Holder Bonus
Nomiswap offers a bonus to personal farmers on the platform. The holder bonus is the reward accrual for the farming period and is automatically credited to any farmers who participate in personal farming.
Nomiswap Referral Program
Nomiswap has an extensive referral program that rewards users for multiple activities (swapping, farming, and launchpools) performed by their referral on the platform.
The referral program utilizes a binary tree system that allows users to earn rewards from unlimited referral levels. In simpler terms, users enjoy rewards from the activities of everyone in their referral structure on any level below them. This concept is represented by Nomiswap’s team rewards.
There are four types of rewards – Own referrals farming rewards, own referrals trading rewards, team trading rewards, and team farming rewards.
In Own Referral rewards, users get up to 10% and 20% from farming and trading activities conducted by their own referral, depending on the farming level.
On the other hand, users get a team trading reward of up to 10% when their referral teams trade on Nomiswap and pay swap fees, depending on the farm level. Users also receive team farming rewards of up to 10% when their referral teams farm tokens on the DEX, depending on the farming level. Team rewards are distributed daily to eligible users.
APY for Farming and Staking
Nomiswap offers high APY on staking and farming on all pools than BNB Chain leader Pancakeswap. The platform currently supports more than 30 active pools, and users can grow their rewards by up to 10x through team farming.
NMX token
NMX is the native currency of the Nomiswap ecosystem. The cryptocurrency powers all the activities on the platform. For instance, the token is used in liquidity pools, cashback, and referral rewards. You can also use NMX token to get a 50% discount on trading fees when trading on Nominex CEX.
NMX has a total supply of 200 million tokens. However, Nomiswap has a special burn program that helps decrease the token’s circulating supply.
In conclusion, Nomiswap is a BNB Chain-based decentralized exchange that allows traders to swap tokens and earn passive income through multiple farming and staking pools. The platform also provides daily rewards through holder bonus and team farming, allowing users to benefit from personal farming and the farming activities of everyone under their referral structure. Nomiswap also offers some of the highest yields in the market, and users can get APY for staking NMX.
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OhNoRipple via https://www.ohnocrypto.com/ @Danish Yasin, @Khareem Sudlow