With increased interest in DEX’s, there is a need for a revenue sharing model for the community. ManySwap will be among the first Dex’s to implement this feature.
The idea of passive earning seems quite fascinating both in theory and in practice. Not having to actively pursue money is a concept sought out by many individuals. Many hope to retire at a young age and take vacations to enjoy most of their days on earth. One of many ways of receiving a constant stream of passive income is none other than Affiliate Marketing. When done right, this strategy has worked for many users in traditional businesses, and now, it’s time to bring the concept into the blockchain ecosystem. Which infrastructure can accommodate such facilities quite effectively other than the Binance Smart Chain network?
What is Affiliate Marketing?
Affiliate marketing is a revenue-sharing model between two parties, the owner and the seller. The best definition is attributed to Patt Flynn’s Smart Passive Income: “Affiliate marketing is a passive earning model, where people earn a commission by promoting other people company or product. You find a product/project you like, you promote it to others, and earn a piece of the revenue realized”
The affiliate market model has an application with any business; its relevance relies on the fact that while mainstream ads can be quite helpful to a product/project’s growth, word of mouth remains the most effective marketing tactic.
Centralized Exchange (CEX) platforms have capitalized on the use of aflliate market models the most in the blockchain space. Users get incentives for sharing their referral links and getting other users to signup using the link. So far, this model hasn’t been applied on any known Decentralized Exchange (DEX), whether Binance Smart Chain (BSC), Ethereum Blockchain, or even Tron Smart Contract. That is about to change as ManySwap becomes the first decentralized exchange (DEX) to use the model.
What is ManySwap
ManySwap becomes the first decentralized automated market maker (AMM) to implement the affiliate revenue sharing model on the BSC network. Users can earn 0.1% in commission on trading fees for each referral. The platform also allows users to swap tokens and create new liquidity pairs. Through adding to the liquidity pairs users can earn liquidity incentives and trading fees.
ManySwap integrates automated features in its pool, farms, lottery, and affiliate marketing models. The protocol aims to automate users’ wealth by offering value for all users’ actions, including sharing the company’s links with other users. After all, with the immense amount of money flowing into the crypto space, there has to be a way users can gain passive income outside of yield farming.
ManySwap Key Features
Forked from Uniswap, the platform list the following as key features:
A hybrid dex
Lottery and Games
As an AMM built on the Binance Smart Chain network, the platform integrates useful features that could become profitable for its users. The novel aspect of this protocolof is its affiliate marketing component.
Hybrid Dex: Being a hybrid Dex means that ManySwap will have some Cex features to track users’ activities correctly. Without this aspect integrated, it becomes pretty hard to track affiliate activities and earnings.
ManySwap: The swap function has been activated since the 2nd of March, with multiple listings. Users can enjoy the dark theme feature the swap platform offers.
Yield Farming: Although still in development, the Yield Farming pools offer decent APYs through MANY liquidity incentives. Currently, there are only three pools with more pools expected in the future.
Affiliate marketing: The core aspect of the ManySwap function which distinguishes it from other AMM and Dex aggregator on the Dex market is its Affiliate market commission. ManySwap becomes the first to do it, offering a mouth-watering commission through its affiliate program.
For each trade 0.3% fee is charged;
0.1% goes to the sponsor
0.1% goes to the liquidity providers
0.1% goes to the ManySwap treasury
StaFi Pool: Hold $MANY tokens to earn new tokens. When users stake in the StaFi pool, they can earn new tokens with the option of unstaking anytime. Rewards are calculated per block.
The total supply is currently at 12,134,591.016597 MANY (Burn Unaccounted), according to Bscan. The total supply could increase over time due to the farming activities; it is, however, integrated with the burn mechanism as there is a schedule burn program to balance the total supply.
374,130 was burned from the supply on March 1 and can be tracked here. The Second Burn activity was 207,278 $MANY. The tokens are burned forever, removing them from the circulating supply. This burn was worth around $109,857 at the time of burning.
Third burn activity worth around $44,400 at the time of burning
Fourth burn activity with the present value of $93,333
It is also notable that the team has removed the “Rug Pull” migrator code which has been responsible for multiple rug-pulls on AMM DEX’s.
More scheduled burns are on the way alongside the release of other distinguishing features of the platform; a Dex aggregator, Cross-chain swaps, ManyToken shares, and Lottery games will soon be incorporated into the protocol.
Many Token Shares are very much limited in supply, represented by the $sMANY ticker. It will be the digital form of ManySwap shares, with 50% of treasury funds pegged into it. The distribution ratio will be 2500:1 (i.e., 2500 MANY to 1 sMANY) and airdropped only to presale participants.
The cross-chain swap feature will be a novel idea in the Binance Smart Chain ecosystem. Currently, no other AMM platform offers cross-chain swap services with other blockchains.
Plugging into the multi-billion world of lottery and games will bring high utility value to the MANY tokens in addition to its other uses. The success of these system can be seen in the PancakeSwap lottery model which has created a robust deflationary system for the protocol.
Right now, a lot of capital has found its way into the Binance Smart Chain DeFi ecosystem..PancakeSwap, another AMM built on the BSC network, recently flipped Uniswap an Ethereum Dex Aggregator. This flip was not in market cap but PancakeSwap is now the world’s biggest Dex by volume. 1inch, another Ethereum aggregator has also bridged to the BSC network recently.
With increased interest in DEX’s, there is a need for a revenue sharing model for the community. ManySwap will be among the first Dex’s to implement this feature. And who knows, more adoptions, new members, and the worldwide effect of the blockchain’s decentralized system will be achieved through this. Time will tell.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.