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General FAQ
ZoomSwap is a cross-chain infrastructure project that builds liquidity for layer-one blockchains, AMMs and partnering projects. Launching on IoTeX, there is an exciting opportunity for farmers to earn $ZM and other project tokens.
There are three main categories of ZoomSwap users:
- Traders: buy and sell cryptocurrencies (via the “Swap” tab)
- Liquidity Providers: deposit assets into smart contracts to earn liquidity mining rewards (via the “Liquidity” tab)
- Farmers: constantly enjoy high-reward APY yield farming.
ZoomSwap is based on the head DEX of IoTeX, mimo.exchange, and its smart contract is based on Uniswap's V1 contract, which has been widely used and tested in practice. Instead of a centralized order book used by traditional cryptocurrency exchanges, mimo utilizes an automated market maker (AMM) smart contract for pricing and reserve management. Traders can trade against these reserves at prices guaranteed by the AMM smart contract.
Farming: In order to farm, you need to provide liquidity to a pool on DEX and then put your LP tokens on Farms. Users will earn $ZM as a reward for join Farm, but can not earn the liquidity provider's rewards at the same time.
Add Liquidity: The two tokens are formed into a trading pair and added to the DEX to provide liquidity, then earn the liquidity provider's rewards, the trading fees on DEX will 100% go to liquidity pool for share among all liquidity providers.
Since DEXs do not use order-books and instead use an automated market maker (AMM) mechanism, the exchange requires the use of liquidity pools, which come from Liquidity Providers ("LPs") who stake their tokens pairs in "Pools" on the DEX. In exchange, they receive LP (Liquidity Provider) tokens. These LP tokens can then be staked in Farms to earn $ZM tokens.
We will always announce new pools before they officially launch. Join our official Telegram announcement group and follow us on Twitter to stay up to date.
Unlike other farming tokens with unlimited supply. Zoom has a total max supply with 87,962,112 $ZM and a reducing farming rate over time.
Last modified 1yr ago