New vBABY membership can bring users super high APYs, but are they worth all the reward fees?
BabySwap Release vBABY Rewards
BabySwap launched its official vBABY Rewards around 12:20 UTC on December 28. The new membership launch came with a bit of on-chain congestion that caused a delay of roughly 20 mins, per a Tweet from the BabySwap team.
Minted at a ratio of 100 vBABY to 1 BABY, the new vBABY membership will give BABY holders entrance to a world of distributed benefits. There were over 1,800 new vBABY members just eight hours after launch, according to data from BabySwap at the time of writing. The current APY for vBABY holders is fetching over 260%, almost 2x nearly every other single asset pool on the protocol.
“The total number of #vBABY members exceeded 1,000! Within only two hours of its launch!!” BabySwap tweeted. “Thanks for your support and love, babies!! Lemme see your membership shining! Reminder: Don’t forget to invite your friends to get 10% referral rewards!”
The BabySwap protocol appears to want to find a way to lock in more liquidity on the protocol. The rewards and redeem distributions of the vBABY show that 50% of vBABY redeem fees will be re-distributed to all vBABY holders in vBABY as rewards. Users will see nearly 50% of their vBABY redemptions redistributed, which more or less cuts the APY in half. Plus a 10% fee to redeem back to BABY.
Some of the referral rewards could boost the earnings to a sufficient level, but right now the Auto BABY restacking liquidity pool looks just as attractive at 95.34% without all the extra hoops.
What is BabySwap?
BabySwap is the top Automated Market Maker and Non-Fungible Token decentralized exchange on Binance Smart Chain. It brings a fun and friendly trading experience on top of great project support.
BabySwap’s token, BABY, trades around $0.07 USD and has a 24-hour trading volume over $30,000 USD. The NFB initiative is one of BabySwap’s core NFT products that focuses on DeFi staking. The platform has also recently incorporated yield farming and liquidity mining to help boost the gains of its users.
Find BabySwap at the following links:
Source : bsc.news
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