Flipping the KOIN
KoinSwap is a yield farm and automated market maker running on Binance Smart Chain. The project has an end goal to become a decentralized gambling hub that means avoiding any centralized services. As a result, this would allow anybody to gamble without the risk of seeing funds blocked by authorities.
However, KoinSwap is not a full gambling platform yet. They are now making their first moves into the scene with the launch of their KOIN token. First, they will launch a presale, then trading can start. After that, they will open their farms. In addition, the platform will introduce KTC, a token native to their trading platform.
A look into KoinSwap tokenomics
They will launch with 355,000 KOIN tokens on the market, of which 15,000 will remain with the developers for project development. Ultimately KOIN has an unlimited supply, but the emission of new KOIN tokens will drop over time.
The presale of the token will start on June 18th at 20:00 UTC. During the presale they will sell 300,000 KOIN tokens for 2 BUSD each. Within 3 hours after the presale ends, liquidity will be provided to the market. The initial listing price of the KOIN token will be $5. Within one week the team will launch the first yield farms on their platform.
In addition, KoinSwap will implement a unique trading incentive system that allows traders to earn tokens from their trading activity. For most trading pairs, traders will receive the KoinSwap Trader Credit or KTC. It will also be possible to earn other rewards, for example from partnered projects.
KTC is inspired by Safemoon, but without the reflection function. Instead, KTC is backed by the in-house AMM token swap platform. For every transfer there’s a 10% fee, of which 5% goes to the liquidity pool and 3% to the trading reward pool. The remaining 2% gets burned. Users can stake their KTC to earn KOIN.
Farming on Koinswap
Like other yield farming platforms, KoinSwap offers two earning opportunities for its users. They can stake liquidity pool tokens to farm rewards, or simply stake tokens to earn rewards. When the yield farms open, KoinSwap will support three different LP tokens. Likely the ones featuring KOIN will offer the biggest rewards.
The ability to stake single tokens is interesting. Users can stake their KOIN tokens in a variety of pools. Each of these pools will offer a different Annual Percentage Return (APR), but they will offer different rewards: KOIN, BNB or BUSD.
Gambling with KOIN
The gambling part of KoinSwap is still a bit underrepresented at the moment. However, the team has plans to create, fund and allow third parties to make or supply gambling games on their platform. For now, users looking for a bit of risk with high rewards, could use the lottery platform. In addition, the team is working on a market prediction game, allowing users to bet on the price movement of the BNB token.
Joining the lottery will cost 5 KOIN tokens, and there’s a limit of 50 tokens per purchase. However, obviously you can purchase tokens multiple times. Players will receive a ticket with four numbers. When the lottery pulls your numbers in the exact same order, you’ve hit the jackpot. However, smaller prizes are also part of the game.
Visit the KoinSwap Finance website.