SheepDex, the first concentrated liquidity DEX that integrates spots and derivatives trading on the Binance Smart Chain (BSC), went live on October 10, 2021. Despite the fact that SheepDex has only been online for a short time, it has already been acknowledged as one of the BSC’s most promising initiatives in the BSC ecosystem as it offers a number of unique services and triple incentive for users.
Benefits of V3 DEX
SheepDEX is a decentralized trading platform built on Binance Smart Chain that is completely transparent (BSC). It enables liquidity providers (LPs) to allocate funds within a specific price range, hence enhancing fund efficiency and lowering trade slippage. Furthermore, it centralizes trading depth while targeting and aggregating liquidity from decentralized exchanges to provide superior liquidity for platform users.
SheepDex’s V3 AMM mechanism stands out from the competition thanks to various cutting-edge capabilities that aren’t currently accessible on other DEXs in the BSC ecosystem, such as range order and flexible multiple fee levels.
On SheepDex, liquidity providers (LPs) can choose their own price ranges in which to provide liquidities, resulting in more depth and lower slippage for traders. It also featured a multi-tiered reward structure that included yield farming, transaction fee refunds for LPs, and transaction rewards for traders all at the same time.
Furthermore, SheepDex allows LPs to provide liquidity for a single token. LPs now have additional flexibility and market-making strategies thanks to multiple fee tiers of 0.1%, 0.2%, and 0.5%.
SheepDex provides a high yield for a low-risk investment. According to the official website, the current APR for USDT/BUSD is 30.43 %, while the APR for USDC/BUSD is 29.10 %. Furthermore, only the APR of fee refund has been provided, and yield farming earnings have not been included.
We can see from the above that LPs could earn more income with SheepDex than with other protocols, and those are only average APRs. Your position’s APR will be significantly higher if you have stronger methods.
SheepDex has also proven to be a more advantageous platform through actual operations. SheepDex has a considerably cheaper charge and far less slippage than PancakeSwap. However, on PancakeSwap, the TVL of USDT/BUSD is 270 million, whereas on SheepDex, the TVL of USDT/BUSD is 2.34 million. This clearly demonstrates that SheepDex’s concentrated liquidity offers unrivaled benefits. SheepDex also gives transaction rewards, making the transaction even more cost-effective.
SheepDex is alive and well thanks to all of these advancements. It has the potential to alter not only DEX’s development path, but also the DeFi landscape.
Introduction of SheepDex
SheepDex is the first DEX in the Binance Smart Chain (BSC) ecosystem to offer focused liquidity. It’s the first time a DEX has combined spot and derivatives trading. SheepDex will enable liquidity providers (LPs) and traders to maximize capital efficiency and revenues by adding numerous new features that are not found on existing BSC DEXs, including concentrated liquidity, multiple fee tiers, range orders, and a triple-incentive mechanism.
SheepDex will aggregate liquidity on BSC and provide you with the most ‘CEX-like’ trading experience possible, with a simple interface, flash swaps, sufficient market depth, and extensive features that include both spot and derivatives trading.
SheepDex provides concentrated liquidity, range orders, ultiplel fee tiers, and triple incentive, such as LP transaction fee refunds, yield farming, and transaction awards. Simply said, SheepDex will increase your overall returns.
Users will be able to trade BEP20 tokens on SheepDex, and some trading pairings will be rewarded with transaction fees.
For adding liquidity to the pool, liquidity providers will be compensated with trading fees. Concentrated liquidity boosts fund efficiency and income for LPs.
After adding liquidity and staking to the proper farms or pools, users will be rewarded with SPC tokens.
For transactions involving specified trading pairs, users will be able to obtain SPC tokens.
Complete key features of spot trading
Develop transaction reward feature
Develop yield farming feature
Complete security audit
Develop and test derivative trading
Launch derivative trading
List SPC on CEX
Set up DAO
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