Image ceated by myself
The defi sector is growing steadily in the crypto space. If you have never heard of the WOX exchange, it is time to have a look at it. Otherwise, you will miss a lot. I have written about this project in some of my posts and I want to thank @crypto.piotr for introducing me to this wonderful project. It is a fork of pancakeswap , built on the Tron network, and it is now up and running. Looking at the WOX project, I see it as the beginning of a great story. They have a lot to offer in addition to the functionalities inherited from the PCS exchange. The less gas fees of the Tron network alone is a great success for the project. Some of the functionalities that the world of Exchange has to offer to users, according to @wox-exchange, include the following.
- Liquidity Pool
- Instant Swap
- Yeild Farming
- Smart Contract Deployment (Contract as a service)
- Cross Chain Bridges for Wrapped Tokens
- DAO (OHM Forked Rebasing Token)
Woxfi dashboard| Screenshot from woxdefi.app
The APY of staking, yield farming, and liquidity pool is incredible, especially if you are an early user. You can buy the $WOX token via SunSwap to be able to stake or contribute to the WOX TRX liquidity pool, and the good news is that the platform is now running on both mobile and desktop devices. If you are to access the platform via desktop, you simply visit the official URL https://woxdefi.app and then connect to your tronlink extension. If you have already added to the TRX liquidity pool, you can visit the liquidity mining page to start mining by choosing the period you'll have your asset locked in the pool, ranging from 1 month to 12 months. The longer the period, the greater the APY.
WOX/TRX LP rewards| Screenshot from woxdefi.app
If you want to access https://woxdefi.app with your mobile device, Open your Tronlink wallet to open the Tronlink built-in browser and paste the official link of the platform. You will be prompted to authorize the connection of your Tronlink wallet to the platform. After that, you can start accessing the features of the platform.
You might not be seeing a lot with regards to the promotion of the WOX exchange, and it is due to the fact that the team believes in stability first before scaling. Unlike most projects, which will start with a lot of hype but little effort is put into stabilizing the project, Wox Exchange has taken a different angle by focusing more on making the platform a stable one for their investors. This is in reference to the statement below, as captured in a post by @wox-exchange, the official steemit account for the Woxfi DAO.
From the very beginning, our goal is to ensure that this project will be launched without having much hype around it. Most new projects tend to build some hype around them, and whenever things go wrong (for any technical reason) - such an approach may easily backfire.
Therefore, our initial goal was not to attract as many investors as possible, but instead, we're focusing on building functioning tools and a strong community of supporters around them.
Thank you for your time.
Yours @salamdeen