DeCEX DeFi Project – Stake Your NFTs and Earn Rewards
DeCEX is a next-generation DeFi (decentralized finance) and NFT (non-fungible tokens) yield farming network. The developers behind the project seek to promote the DeFi industry and the NFT sector’s development in some unique ways. Notably, the melding of these blockchain concepts creates some exceptional opportunities for investors.
NFTs are unique blockchain verifiable assets. As of late, they have been a source of great interest for investors. An NFT represents something unique. Unlike fiat currencies or early cryptocurrencies such as Bitcoin, these tokens are not interchangeable.
You can think of NFTs kind of like a train ticket. All of the tickets look the same, but they all represent a different seat on the train. Consequently, they all hold varying values. NFTs are no different. There are NFTs in the market currently worth over $100,000.
Today, NFTs are prominent in the market due to tokenization, gaming, and an explosion in the digital art sector. Tokenization allows anything to be placed on the blockchain. Some NFTs exist today, ranging from gaming tokens and digital art to actual real estate holdings. Today, NFTs are found frequently in art, games, and collectibles. Keenly, the value of an NFT comes from its verifiable digital scarcity.
Benefits of DeCEX
The DeCEX ecosystem resides on the Ethereum blockchain. This unique ERC-20 compatible ecosystem encompasses a variety of helpful financial products to provide NFT investors a boost. These features include DeCEX token staking, LPV2 mining, burning mechanism, NFT staking, NFT repurchase, and NFT auction system.
There are a lot of reasons why an investor would choose DeCEX over the competition. The platform provides new users with an easy way to secure profits without conducting in-depth market research. Compared to trading cryptocurrencies, DeCEX is more comfortable and less risky. Additionally, there is an excellent selection of features to help boost your ROIs.
At its core, DeCEX is a yield farming protocol. Yield farming is one of the hottest DeFi features in the market today. These networks allow users to stake their cryptocurrency in large liquidity pools. Other users can conduct transactions through the liquidity pool. The liquidity providers will keep earning a proportion of the 0.3% fee on any trade from the liquidity pool. In this way, they can gain access to profits that were once only available to bankers.
DeCEX is different than most yield farming platforms because of the introduction of deflationary protocols. Currently, the yield farming sector has inflationary concerns. These concerns revolve around the fact that most liquidity pool issue tokens every time a new investor joins the pool. This uncontrolled token distribution model will lead to significant losses due to inflation if not corrected.
How Does DeCEX Work
DeCEX relies on a proprietary dual deflationary protocol to keep its LP token values consistently on the up. The network intuitively combines DeFi and NFT farming. Investors benefit from the ability to earn passive rewards while retaining ownership of their valued NFTs. In this way, DeCEX maximizes investors’ profits and furthers the use of NFTs in the market.
One of the main features of DeCEX is the ability to stake the network’s native governance token, DCX. Users earn rewards for staking these tokens based on the amount and time they stake. These rewards can then be exchanged for NFTs when you desire.
DeCEX offers a secondary staking mechanism as well. This system allows you to earn GrassV2 to exchange NFTs on the network. NFT exchanges are on the rise. The decision to add this feature is another example of developers sticking to their primary goal to further the NFT sectors.
DeCEX users can buy and sell NFTs on the platform’s exchange. Keenly, the exchange is designed to enrich NFT gameplay and enhance the circulation of these financial instruments. The auction functions a lot like other popular online platforms such as eBay. For example, the project owner can set a minimum reserve price. The highest bidder gets the NFT.
Keeping in the pioneering spirit of DeFi, DeCEX also features a Buy Lottery. If you are feeling lucky, you can take a swing at winning some free rewards. This feature is an excellent year-round promotional device that is sure to excite at least a few investors. Prizes will vary from the native token to actual NFTs.
The fee structure for the DeCEX network is designed to promote further liquidity across the network. Specifically, there is a 5% transaction fee paid by sellers. Of this fee, 1% goes directly back into the DCX/ETH liquidity pool. Interestingly, these funds are never to be withdrawn. This strategy helps to ensure perpetual growth in the liquidity pool. Additionally, users pay a fee of 5% of the LP-V2 staking pool. This fee also becomes a liquidity pool contribution.
DeCEX DCX Token Burn
In an interesting maneuver, DeCEX will burn a majority of its DCX tokens. Specifically, the total supply of DCX will be burned from 1,000,000 to 200,917 following the completion of the crowdsale. This approach will bolster the remaining DCX tokens significantly.
In the DECEX ecosystem, all staking rewards are paid in Grass. Grass token rewards are determined by the staking period and the total amount you stake. The more you stake and the longer you lock your crypto up for in the liquidity pools, the more grass you earn. Keenly, users redeem grass into collectible NFTS for private collection or to sell via the auction.
DeCEX – DeFi is Just Getting Started
The experimental nature of DeCEX can be seen as a testament to the endless possibilities of the DeFi sector. NFTs continue to inspire more exchanges, platforms, and Dapps. DeCEX’s timing is perfect as both sectors are on the verge of a significant breakout. You can expect NFT and DeFi to remain hot topics for the foreseeable future. Consequently, DeCEX serves an important niche market in the sector that will see expansion moving forward.
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