Disclaimer: The text below is a press release that was not written by Cryptonews.com.
With crypto flying high this year, it’s no surprise that there are so many new decentralized yield farms. After all, crypto can now supersede traditional bank services easily, providing users with greater autonomy.
However, lots of these platforms are prone to inflation, making the crypto domain too risky for new users. That’s why we are so excited to talk about CaramelSwap, which solves this issue once and for all.
What is CaramelSwap?
CaramelSwap is an innovative new crypto yield farm whose development has the sole purpose of providing people with an affordable and sustainable decentralized service.
The yield farm runs on Binance Smart Chain, and it works together with the Caramel Token – which is deflationary. Meaning that currently there is no hard cap, resulting in bigger interest gains.
How does CaramelSwap solve the crypto inflation issues?
The reason why so many cryptocurrencies are prone to inflation is that the development teams often resort to ICOs, selling the tokens at a lower price before listing them on exchanges.
That concludes in higher demand, and sooner or later, there will be too many tokens released out of the total supply. Therefore, the token’s value will decrease.
CaramelSwap, however, launched its token without any presales, being fair to the crypto enthusiasts. And that’s just the beginning.
The platform has two other features that make everything run smoothly:
- The Mel requirement – which assures the gradual market penetration;
- The Burning mechanism – that preserves the token’s individual value.
Basically, there are two burning methods used on the platform: the buyback and the transfer tax. When you stake your coins, there will be a 5% deposit fee, of which 80% will result in Caramel burn. And when you make a transfer, you will have a 2% tax burned in every transaction.
How is CaramelSwap different than other crypto projects?
The thing that makes CaramelSwap stand out is the Mel Requirement, which stops the mining pools’ exploitation.
To join a mining pool on CaramelSwap, you need to hold a certain number of MEL tokens – that can not be spent. If you don’t meet the requirement, then you can’t get the desired APR. That ensures the gradual market penetration of the new tokens.
CaramelSwap doesn’t stop just at mining pools and crypto transfers. The roadmap covers other features ready to meet people’s needs.
So far, it was implemented the Harvest Lockup feature that locks the harvests for a certain amount of time, each time the user stake or harvests.
The ranges may vary, from 2 hours to 4 hours or more. After the time is passed, all the tokens farmed can be sent to the user wallet. This increases the safety of the platform and also helps to control inflation.
Besides that, they also want to enable features like:
- The NFT integration
The NFTs will be found in the form of cards that will give different perks to users directly on the platform. For example, if you hold 50 cards, you can exchange them for the Freedom Card – which allows you to mine in any pool without paying fees.
- The referral program
This feature will reward you for every friend that joins the platform through your invitation. Those who invite forward get 1% of their friends’ rewards
- The Chiliz pool
This will be a new yield farming pool created for football fans worldwide, that wants to get MEL while investing with their favorite teams’ tokens.
Add to that their own exchange, and even a bridge from Binance network to theirs.
Ready to start your crypto adventure?
Level up your game and get the most out of yield farming! For more details, take a look at their whitepaper, and don’t forget to follow them on social media:
Coin Market Cap: https://coinmarketcap.com/currencies/caramel-swap/
Telegram Global: https://t.me/CaramelFinance
Telegram Português: https://t.me/CaramelFinanceBr
Telegram Announcements: https://t.me/CaramelFinance_Ann