Announcing OSWAP on Avalanche and Bridge Vault Fixed Staking Campaign!
Dearest Trolls,
It is with great pleasure to inform you that OpenSwap is ready for Avalanche!
For Trolls of you who participated in the recent flippening event, where you committed to bridging your OSWAP tokens from Binance Smart Chain to Avalanche, the OpenSwap team will be disbursing your AVAX OSWAP along with the rewards on 31 March 2022.
OpenSwap has been a community-focused project from the get-go, and we strive to continue doing so on every chain we extend to. As such, alongside the static AVAX OSWAP rewards that we will be distributing, we wish to introduce everyone to a brand new fixed staking (single asset) campaign powered by the newly installed Bridge Vault on OpenSwap Avalanche.
What’s a Bridge Vault?
For Trolls of you who have been paying attention to our updates, you may already be aware that the OpenSwap Bridge relies on the Bridge Vaults to function.
Bridge Vaults essentially act as a median between the chains with our Troll network connecting them. They provide 1:1 trade (before fees) and provide the enablement of token bridging. Other multi-chain projects can also use this function to help with their token flow between different chains.
Fixed Staking on OpenSwap Bridge Vault
In light of OpenSwap’s expansion to Avalanche, we are excited to announce a single asset fixed staking on OpenSwap Bridge Vault.
Below, are the campaign details:
OSWAP Bridge Vault Program
Stake OSWAP Vault Token, Earn OSWAP
Campaign Start Date: Wednesday, 6 April 2022
14 Days: 15% APY
30 Days: 18% APY
Here’s a quick guide 👀
Step 1:
Go to the Fixed Staking Page on Avalanche by visiting www.openswap.xyz/#/staking and connect to Avalanche Mainnet C-Chain
Step 2:
Choose whether you want to participate in 14 Days or 30 Days
fixed staking campaign
Step 3:
Click on the “Get vtOSWAP” button
Step 4:
Add Liquidity to OSWAP Vault on Avalanche Mainnet C-Chain
Step 5:
Insert the AVAX OSWAP amount you would like to stake
Step 6:
Go back to the Fixed Staking Page and click on the “Stake” Button
Step 7:
Stake your vtOSWAP token and enjoy the rewards after the fixed staking period!
Disclaimer:
* Reward Boost for OpenSwap Bridge Troll NFT(s) obtained from Binance Smart Chain will not be applicable to community incentives on Avalanche.
** In case of disputes or unpredicted events, OpenSwap reserves the right to change, amend, reinterpret, suspend, and/or terminate the staking campaign at any time with or without prior notice.
What’s Next?
Going forward, the OpenSwap team will be introducing more Bridge Vault fixed staking campaigns on the regular, so there is no need to FOMO.
For Trolls who missed the last flippening campaign, there is no need to worry. We will be continuously helping more OpenSwap users flip their $OSWAP from Binance Smart Chain to Avalanche, tentatively we aim to conduct a flippening event every week (if we got the bandwidth).
And as you may also know, the OpenSwap Bridge will only work if we have a healthy level of liquidity on bridge vaults on both sides, hence we anticipate to also introducing a Bridge Vault fixed staking campaign on Binance Smart Chain in the near future!
About OpenSwap
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage with hybrid smart routing, and a single asset crosschain bridge. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. The OpenSwap team has been working for the past several months on building up a vision of a greater OpenSwap ecosystem that will become every crypto project’s BFF through a set of key offerings that will empower teams to establish funding and sustained token health, allowing teams to focus on what they do best — BUIDL.
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