KUALA LUMPUR, MALAYSIA / ACCESSWIRE / September 14, 2021 / GIBXSWAP is a decentralized transaction protocol built on an automated market-making mechanism that combines the distinct advantages of multiple basic public chains. The main goal is to avoid the various drawbacks of decentralization to reap the benefits of decentralization, such as creating a high-performance composite DEX ecosystem, maximizing participant rewards with the "dual mining incentive" of liquidity mining and transaction mining, and realizing self-driving value capture ecological closed loop through the fee repurchase and destruction mechanism.
Following the launch of GIBXSWAP, a multi-chain DEX model will be implemented. It will first launch on the BSC Binance Smart Chain, followed by the Huobi Ecological Chain (HECO), Ethereum, and other ecological chains. By combining the benefits of low transaction fees on the Huobi Ecological Chain HECO and the prosperity of the Ethereum ecosystem, it supports the "dual mining mechanism" of liquid mining and transaction mining, allowing it to stake pools, liquidity mining pools, DEXs, cross-chain asset bridges, and other ecosystem services are examples of platform services. GIBXSWAP has no private equity and no pre-mining, and it is dedicated to creating a new community-oriented DEX and ecosystem. Simultaneously, it will benefit from low slippage, quick speed, fund security, and optimal prices, quickly becoming the market leader.
The most notable aspect is that GIBXSWAP will launch a new decentralized currency, "X." The new currency will be the GIBXSWAP platform's core token, and it will be used for voting, repurchase, fundraising, trading, and coin earning. The appearance of "X" is primarily due to a gradual increase in the original GUSDT TM market circulation.
To achieve breakthrough growth, the market value urgently requires a larger carrier and new currency. The maximum supply of "X" is one billion, and the block reward is 20 "X" per block. Professional organizations such as Ernst & Young and Deloitte audit the "X" open source code to ensure its safety. Simultaneously, "X" will support the decentralized cross-chain transaction protocol of BSC, HECO, and ETH, employing "dual mining incentives through liquidity mining and transaction mining," allowing participants to maximize returns while seamlessly integrating with Binance and Huobi's massive global traffic and head resources.
GIBXSWAP Pool provides users with multiple pools to stake LP tokens and earn X tokens in return. By allowing our LPs to stake their LP tokens in the pools, GIBXSWAP will incentivize many liquidity pairs. If you add liquidity to the pool, you will be rewarded with LP tokens.
For example, if you add liquidity to a BNB/USDT pair, you will receive BNB-USDT LP tokens. In addition to the transaction fee rewards, you can stake these LP tokens in ‘mining pools' and earn USDT tokens in return.
After ILO, an X-USDT pool such as GIBXSWAP, PancakeSwap, BakerySwap, and BabySwap-logo will be built in DEXs other than GIBXSWAP to attract other DEX users through the use of liquidity differences and GIBXSWAP transaction mining, and other DEX platform coins will be listed at the same time. The mining of USDT for liquidity attracts users to deposit platform coins to GIBXSWAP.
X is launching on the Binance Smart Chain (BEP-20) with a maximum supply of 1 billion X. Out of the 100% of the initial allocation, 1% is for ILO (Initial Liquidity Offering). 9% is used for partnerships with ecological construction, including marketing, promotional activities, and liquidity management, which are unlocked in 9 months. 10% is used for development which is opened linearly in 20 months, and lastly
80% is allocated for X community members.
The above 80% can be divided into 40% that can be earned by trade mining or yield farm and 20% that can be earned by pool.
The emission rate for each block(X) is ten and the emission per day is 288,000. X is distributed to trade mining, LP Pool, and Token Pool in which the percentage of emission for each block is 40%, 40%, and 20%, respectively. Currently, X is burned 0.05% of every trade made on GIBXSWAP for deflationary mechanics.
GIBXSWAP stake LP user guide description:
1. Choose the farm you want to stake.
2. Click "Approve Contract."
3. Click "Stake LP" and enter the number of LPs, then click "Confirm."
4. Confirm the transaction in your wallet
5. Done! You can click "View on BscScan" to view your transaction details
Receive LP and X rewards.
1. Choose the farm you want to claim.
2. Click "Claim."
3. Confirm the transaction in your wallet.
4. Done! You can click "View on BscScan" to view your transaction details
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SOURCE: GALAR PR LTD