- Summary:
- Canadian company, Timechain has brought Automated Market Makers, staking and yield farming to its TimechainSwap platform. What does it mean?
DEX aggregator and permissionless lending and borrowing protocol, Timechain, has introduced Automated Market Maker liquidity pools, staking and yield farming to its TimechainSwap platform. TimechainSwap is a Decentralized Exchange (DEX) aggregator. It operates on Ethereum, BSC and Fantom blockchains. As an aggregator, TimechainSwap integrates various DEXs into a single platform. Doing so accords users the opportunity to leverage slippages and choose the best swapping options available in the market at a particular time.
Additionally, Timechain has opened up its network for use by other tokens and promoting the use of its native TCS token. These ventures are likely to help the protocol attract users who seek passive income through staking and yield farming.
To build its liquidity pool, Timechain hopes to entice users with incentives in the form of earnings. Notably, the platform will reward liquidity providers with tokens generated from trading fees. Additionally, users may stake their tokens into farming pools. The third incentive will involve a buyback program, which will enable users to sell their TCS tokens at a higher price.
How the liquidity pool reward system works
To ensure the sustainability of its liquidity pool structure, Timechain will give divide its 0.3% trading fees into two. 0.2% will reward liquidity pool providers, while 0.1% will fund the TCS buyback program. In addition, the earnings from trading fees will be proportional to the percentage of one’s share of the liquidity pool.
To earn rewards from Timechain’s liquidity program, users will have to match the value of each token in the pair they supply to the pool. In return, they will receive tokens equivalent to their percentage share of the liquidity pool. For a start TCS/USDC, TCS/DAI, TCS/FTM, FTM/DAI. and FTM/USDC are the available LP pairs. However, the platform will give users the freedom to choose their preferred tokens.
The TimechainSwap yield farming program gives users the chance to earn TCS when they deposit tokens into the TimechainSwap liquidity pool. Yield farming will be available via TCS/USDC, TCS/FTM, and FTM/USDC pairs. Yield farming investors will share 20,000 TCS per month based on the current monthly token generation. Timechain has also set up an APY-based earning scheme to attract liquidity.
Regarding staking, users will deposit their TSC assets into a single staking pool. In return, they will earn xTSC tokens in proportion to their pool share. The xTCS will remain constant, while the TCS/xTCS will accumulate over time.
About Timechain
Founded in 2018, Timechain is a Canadian company specializing in providing monetary services, with a bias towards DeFI and digital asset management. TimechainSwap, a decentralized exchange, is Timechain’s central platform in the digital assets trading segment. Timechain has embarked on developing its own DEX platform. It is also enhancing the capacity of its liquidity pool by adding DeFi features.