Hi guys and welcome to another lovely edition of DeFi Corner where we get to talk about some of the new and trending DeFi based platforms around the crypto space.
The crypto space is quite vast and each day something new comes up and most times, they catch us unaware probably due to other ongoing projects we might have been following.
Yes, it’s usually the first mover’s advantage when it comes to crypto and blockchain, latecomers usually watch from the sidelines, and on rare cases where they offer something fun and better, they get to play midfield for a while.
DeFi Corner basically showcases some of the ongoing and launched DeFi projects you might have missed and also steps one can easily interact with them.
Making it to the top of our list today is BTswap, a DeFi based platform built on the Ethereum Blockchain.
For those not familiar with what DeFi’s are, these are decentralized finance built on the blockchain that provides higher APY with far better incentives compared to their centralized counterpart.
They usually house features like lending, borrowing, yield farming, and amongst many others.
BTswap is an automatic market-making decentralized exchange just like Uniswap and other DEX, it operates on the concept of liquidity provision that allows any and all Ethereum based account to take part in liquidity provision for the token/coin of their choice.
Users are able to earn from liquidity provision when a trade takes place around their LP and also earn BT token which is the native token of BTswap used for governing the BTswap network when important updates are set to roll in.
Built on the Ethereum network, BTswap requires a web3 based wallet that allows users to easily interact with DApps.
TokenPocket is a multi-chain wallet that allows users to easily manage their crypto assets and also provides functions to interact with Ethereum DApps and other blockchains inclusive.
TokenPocket is available on IOS and Android devices respectively and users can download from Google Playstore or Appstore depending on their preference.
To get started with BTswap, users have to download and create an Ethereum based account, also a proper backup of your wallet is required due to TokenPocket being a noncustodial wallet.
From your Ethereum asset page, click on the Discover menu
Navigate to the DeFi menu and scroll down until the BTswap DApp comes up or you can easily search the name via the search menu located above the discover menu page.
Click on BTswap to launch the DApp
The page is self-explanatory but a guide on how it works can be found via its menu option.
Disclaimer, the above is for educational and entertainment purposes, users are advised to do their own research before investing in any digital or offline platform