BambooDeFi, the DeFi project of the blockchain developers at Nexxyo Labs, took a big step forward recently after being listed on Uniswap, the largest Ethereum token exchanger. Having an official listing page on Uniswap is a huge step forward for the project, which follows in the footsteps of a successful IEO raising 314 ETH.
In the spirit of Uniswap, Sushi Swap and other decentralized token exchangers, BambooDeFi offers a new way for cryptocurrency investors to trade, stack and lend their coins.
Within the platform are several financial management components, all grouped into a friendly user interface. These components include yield farming, staking, an internalized governance system, liquidity funds, ‘Raindrops’ (lotteries) and regular token burning.
So far, the trading pair The most popular on Uniswap for BambooDeFi’s native token, BAMBOO, is with Tether (BAMBOO / USDT), and almost all trades are done using this pair. However, thanks to Uniswap’s advanced token pricing and transaction engine, BAMBOO can now be exchanged for any other ERC-compliant token that is hosted on the Ethereum network. All token conversions take place behind the scenes with Uniswap and the only fee that needs to be paid is the Ethereum gas fee for the associated transaction.
On February 2, BAMBOO went live on the MXC cryptocurrency exchange, adding another participant to its list of markets. MXC has paired BAMBOO with USDT and its main difference with Uniswap is that MXC is a centralized exchange and Uniswap is not.
Unlike many DeFi projects, the team behind BambooDeFi went out of their way to ensure that the content of their whitepaper was up to par, hiring financial planners at Pulsar Capital EAFI to make sure it contained all the necessary details to properly inform potential investors.
With a dedication to transparency and simplicity, BambooDeFi tries to make it easier and safer than ever to bet coins, earn rewards and participate in the broader crypto ecosystem.
Another way that BambooDeFi is different is that its liquidity funders can continue to receive rewards even after they have withdrawn liquidity. Of the 0.3% fee charged for each transaction through BambooDeFi, 0.2% is distributed among liquidity providers, 0.06% is held in a vault account, and the remainder is distributed to the forks of BAMBOO.
In addition to finalizing the features of its DeFi platform, Nexxyo Labs has a lot in store for the rest of the year. According to the BambooDeFi team, “We have a host of other products, such as contracts, trusts, and a gamified NFT marketplace” in the works, adding that “2021 will bring a lot of good surprises.”
With More details on what’s to come, the team published an updated roadmap in November 2020 outlining their plans through the first quarter of 2022. So far, most of the project’s goals have been completed on schedule or ahead of schedule, which is an encouraging indicator of future performance.
You can Find a breakdown of the latest BAMBOO stats and price chart on their page at CoinGecko. The project also maintains an active presence on Twitter and Telegram.
Nexxyo Labs is a company that develops technological solutions for the problems of people and companies. Based in Navarro, Spain, they have several different approaches, including blockchain development, cryptocurrency ATMs, industrial applications, and web design. You can contact Nexxyo Labs by phone at +34 948 498 358.
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