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10/12/2023

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CSWAP: Partner Staking + CSXP

We’re super excited about our recent token launch! Now that the token has launched and is tradable, we need to adjust our partner staking program.

CSWAP: Partner Staking + CSXP

We’re super excited about our recent token launch! Now that the token has launched and is tradable, we need to adjust our partner staking program. These changes will encourage active participation, reward our partners, and create more value for $CSWAP and the CSWAP ecosystem.

Initial Pause

Now that $CSWAP is live we need to pause partner staking for the short term while we prepare for the new CSXP Partner Staking program. We are so happy we were able to involve our partner communities in our pre-launch partner staking program!

In Q4 of this year, community members who hold $CSWAP will be able to: use their $CSWAP in the “Degen Pools” AND earn ADA through our Revenue sharing program. We expect demand for the CSWAP token to grow as we add these and other important utilities. We have high expectations in terms of our profitability and growth potential and want you to be a part of it!

What is CSXP?

CSXP is an off-chain rewards points system. Folks will be able to earn CSXP by participating in activities that create value for the CSWAP ecosystem. They will be able to view the CSXP they’ve earned on the CSWAP platform, and is associated with a user’s Stake Key.

CSXP Partner Staking Program

The new program will incentivize active participation within the CSWAP ecosystem, including taking part in NFT mints and participating in our ISPO. We realize that community members have many choices in regard to which projects they want to support. We hope that partner community members will continue to be apart of the CSWAP journey!

Here are the tracked CSXP rewards thus far:

  • Origins Mints: 1 CSXP will be rewarded for every 1 ADA spent in mint.
  • Allies Mint: 1 CSXP will be rewarded for every 1 ADA spent in mint.
  • ISPO: 1 CSXP will be rewarded for every 1 ADA earned by your stake.

Moving forward we may reward CSXP for:

  • Providing liquidity in our NFTfi Marketplace.
  • Completing transactions in our NFTfi Marketplace.
  • Social engagement.

What now?

Please feel free to leave your partner NFTs staked, though you will not be earning CSWAP until we implement the changes. We will provide details on the new CSXP Partner Staking Program in the coming weeks. Thank you to our partners and community members for supporting our team as we continue to disrupt the NFT ecosystem on Cardano!

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ORIGINAL SOURCE

https://medium.com/@cswapdex/cswap-partn...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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