TrumpSwap finance: A New Protocol for Exciting Share Mining Options
The mainstreaming of cryptocurrencies has made individual mining an arduous and costly affair. Consequently, pool mining continues to gain traction as a time and cost-effective alternative. Also, by pooling their liquidity, users can easily switch between tokens in decentralized and non-custodial ways. This way, the liquidity providers (LP) earn passive income from the trading fees they collect. This fee is proportional to their contribution to the pool.
Uniswap revolutionized crypto swapping. Other players like SushiSwapMoonSwap have made improvements on Uniswaps offering. However, the upgrades aren’t innovative, though exciting. It is against this backdrop that TrumpSwap presents itself as the go-to protocol in matters of crypto swapping. It emphasizes its community while integrating Uniswap’s core design. Driven by its “you share, you mine, you mine, you earn” philosophy, it heralds an exciting future for its users. This article provides an in-depth analysis of its offering.
How is TrumpSwap Structured?
TrumpSwap’s function anchors on three factors: its token distribution, the rewards system it adopts, and the security of users’ funds. Following is an overview of how each contributes to the success of the protocol.
Distribution of the Trump Token
To control the quantity of TRUMP available and, therefore, its value, TrumpSwap will pursue a prudent distribution mechanism. Its distribution will be as follows:
- The total amount of TRUMP issued will be 14 286,000. The release will proceed within the next year.
- 30,000 TRUMP were pre-mined to provide the initial liquidity. Later on, they destroyed these TRUMP tokens.
- 2, 381,000 TRUMP is allocated for share mining.
- 11,875,000 TRUMP is distributed through mining. TrumpSwap will avail 90% of this amount to the users/miners while the remaining 10% goes to its team.
The Five-stage Division of The Mining Process
TrumpSwaps adopts a phased approach to mining the TRUMP token. These stages are:
- Genesis mining: will yield 50 TRUMP/block from a total of 50,000 blocks. It will take approximately seven days.
- Stage 1: The output will be 10 TRUMP per block from 500,000 blocks. Mining in this phase will take about 75 days.
- Stage 2: This stage will realize 5 TRUMP per block. The mining will target 500,000 blocks and will conclude in roughly 75 days.
- Stage 3: Here, output targets 2.5 TRUMP for each block. The mining will proceed in 500,000 blocks and will be complete within 75 days.
- Stage 4: The targeted output during this stage is
- Stage 4: The targeted output during this stage is 1.25 TRUMP per block. Mining will occur in 500,000 blocks and take 75 days or so to conclude.
It is noteworthy that Genesis mining will begin when the Ethereum block height reaches 10, 906, and 076. This event began at about 14.00 UTC on the 29th of September. From the onset, the following pools will be available for trading:
The community may choose to add more pools and adjust the weights later on.
TrumpSwap adopts a rewards system that incentivizes and participants that push uptake of the protocol. Sharing TrumpSwap earns one a “thank you” reward. The rewards are independent of whether or not one participates in mining or provides liquidity for TrumpSwap The reward system is straightforward. You only need to share TrumpSwap with friends. Immediately they start mining, and you earn TRUMP. farmers
Incentivizing the TrumpSwap Experience
TrumpSwap employs a three-tiered incentive sharing system. The system operates as follows
Direct Sharing Rewards
These emanate from farmers that participate in mining through an individual’s shared link. Friends are direct sharing friends hence the reward’s name. It amounts to 10% of Trump output from friends’ mining activity.
First-Level Sharing Rewards
When farmers participate in mining through their direct friends’ sharing links, they constitute first-level sharing friends. From these, one derives first-level sharing rewards. The reward is a 5% Trump output from their mining.
Second-level Sharing Rewards
Farmers participating in the mining process through links shared by first-level sharing friends make up second level sharing friends. Consequently, one draws a second-level sharing reward from their participation. This reward is 4% of the Trump output resulting from this group’s production.
Qualification for Rewards
The following are the prerequisites for receiving the shared rewards:
- One has to share their links with friends.
- The friends then log-in to TrumpSwap finance through that link.
- The friends must bind their Ethereum wallets and select the pool they would like to participate in mining.
- One then receives their rewards when the friends start mining.
Besides receiving rewards from friends’ mining and having Trump output, one can also draw from all the relations recorded on Ethereum.
How TrumpSwap Incentivizes Liquidity Providers
The traditional AMM disadvantages liquidity providers(LPs); the only time LPs earn the pool’s trading fees is when their liquidity is active. Once they withdraw their share in the pool, they cease receiving passive income. Again, regardless of them being the early liquidity providers, they risk diluting their returns as more prominent players with huge capital join.
In response to the above, TrumpSwap borrows a part of SushiSwap’s design while affording its LP several incentives at the same time. These include:
- The enjoyment of share mining.
- They can become TrumpSwap LP and earn TRUMP.
- They can become TrumpSwap LP and earn tokens from their TrumpSwap partners.
- They may join the TrumpSwap FOMO campaign.
- As the community expands, they enjoy newer incentives.
Guaranteeing Users of Their Security
TrumpSwap puts a premium on ensuring the security of each user’s funds. The protocol will undergo thorough testing before operationalization. Besides, third parties, including Chaitin, PeckShield, and Showmist, will independently audit its code.
Increased usage of cryptocurrencies makes profitable solo mining ventures a chore. As a result, many crypto enthusiasts find recourse in mining pools. To serve this growing population, different protocols have their offerings to the market. TrumpSwap is one such protocol positioning itself to be the platform of choice on matters pooled mining. Going beyond the mere function of enabling pooled mining swaps, it promises incentives to its customers. The future is more exciting for its users.
Originally published at https://www.cryptofolds.com on October 2, 2020.