Nyanswop is a decentralized protocol for automated liquidity provision on the Binance Smart Chain, with their utility token Nyan Swap Token.
The world of Decentralized Finance (DeFi) has been disrupted by Uniswap. That, however, is not by sheer chance. Uniswap has been in the industry for more than two years and is now the de facto Automated Market Maker (AMM) on Ethereum.
Nyanswop Review
Nyanswop claims to be the Unicorn of the Binance Smart chain. The Binance Smart Chain (BSC) is much faster and of course, way cheaper (in terms of gas fees), so it is not too hard to see why we decided to launch on the BSC.
Most importantly, BSC is run by Binance, currently the largest cryptocurrency exchange in the world. Binance is also the leading exchange in terms of listing DeFi products and tokens.
In addition, with the launch of Binance Panama, Nyan swap foresees that more users would come over from the Ethereum space.
They are aligned with Binance’s vision and therefore have no doubt that BSC would be the right choice.
Nyan swap believes in the value of BNB and would push for the adoption of BNB. They would like to grow the BSC ecosystem. If you’re a BNB holder, you’re part of the Nyan swap token economics.
Nyan Swap Token Details
- Token Name: NYA (Nyanswop Token)
- Contract Address: 0xbFa0841F7a90c4CE6643f651756EE340991F99D5
- Blockchain: Binance Smart Chain (BEP 20)
- Total Supply: 1,000,000,000
Nyan Swap Token Liquidity Pools (NYAN-LP)
Provide liquidity as the first step to start earning NYA tokens.
Liquidity providers will get 0.3% of the fees charged when swapping of tokens. This fee is split by liquidity providers proportional to their contribution to liquidity reserves.
Get your NYAN-LP tokens here: https://nyanswop.org/#/pool
The initial incentivized pools are as follows:
- NYA/BNB (4x)
- BUSD/BNB (2x)
- USDT/BNB (1x)
- DAI/BNB (1x)
- ETH/BNB (1x)
- BTCB/WBNB (1x)
- ADA/BNB (1x)
- BAND/BNB (1x)
- DOT/BNB (1x)
- EOS/BNB (1x)
- LINK/WBNB (1x)
- XRP/WBNB (1x)
Stake Nyan-LP tokens here: https://nyanswop.org/#/nya
The Nyacademy
The Nyacademy is an initiative proposed by Nyan Dev 🐱. The crypto industry moves too fast, projects get millions of dollars of investments within hours, but no one seems to share knowledge in this specific region: DeFi security (or ‘rug-pulls’), especially for the parts on code reading.
The Nyan Dev believes in collective knowledge. It doesn’t help much if only a few person knows how to spot the red flags.
They can only reduce participation in ‘rug-pull’ projects if they work together. That way, they could warn each other and stay cautious.
In the first installment of the ‘Unrugged’ series, they will take a general look at the DeFi ‘rug-pull’. In the future articles, they will go in-depth into specific projects which has been proven to be ‘rug-pulled’.
Scams happen is many different ways. Here’s to list just a few:
- Site phishing,
- Social engineering,
- Economic exploits,
- Malicious code etc. (and that’s not everything yet) Let’s start with a few simple ones.
Is Nyan Swap Safe
Nyanswop is still in beta, so use it at your own risk. Do your own research! That being said, our contracts are mainly referenced from Uniswap.
Their priority is certainly getting all of our contracts audited. That would definitely be the first usage of the dev fund.
Here’s the main contracts:
- NYAN-LP: 0x8283C220e764B54aaB8a9Bae7d547984428B4Cd5
- Factory: 0xF38D202723a9376C034eD5b8Cecb4EFe8f249836
- Router: 0xc946764369623F560a5962D32c1D16D45F1BD6fa
- Reward Factory: 0xCC010d0aF48c8a5c26C6e0972699E0E7A23BcF39
- Staking Reward: 0x5E5aB212e09B83D1d356aE8889AC6f5c7E0Ef276
They’re currently trying their best to get them all verified on bscscan. (update: all contracts are verified on bscscan)
Final Verdict
So you’ve tried burgers (and fries?), bread (and combos?), and pancakes (and syrup). Well, perhaps it’s time to avoid some food and go for a diet.
Farming tokens on top of another token? Isn’t this space is getting too complicated and gaming? So Nyanswop aim makes it simple for everyone, especially the ordinary traders.
Nyan swap plan to reward users based on participation instead of just providing liquidity pools; taking full advantage of the low gas cost of the BSC. So there will be daily activities for users to boost their rewards.