EIFI Finance Project Review: An AMM Dex Yield Farming Protocol.
EIFI Finance project is a fairly new decentralized exchange (DEX) that’s been created on the Binance Smart Chain (BSC). The automated market maker (AMM) offers users a number of innovative ways to create income streams from their cryptocurrencies. In the following review, we’ll go into more detail about what makes the EYFI Swap exchange work, and how you might be able to benefit from it yourself. EYFI has taken to the Ethereum & Binance Smart Chain by storm and continues to innovate and bring excitement to the decentralized finance (DeFi) space.
What is EIFI Finance?
Why the name EIFI? Well it is simply following the trend in decentralized finance that uses Business Finance in international market tokens. There are many other themed projects and tokens in the DeFi space too. As for EIFI Swap they use the deliciously named EIFI token, which is a BEP-20 token on the BSC, and the just as deliciously named Rocket pools. The EYFI Swap exchange boasts fast transactions and lower fees than the DeFi projects built on Ethereum.
EIFI is a decentralized finance automated market maker exchange AMM (DEX) on the Binance Smart Chain (BSC), and Ethereum, which uses permission-less liquidity pools run by algorithms. This creates what is known as an automated market maker (AMM).
By this point in time, I am sure everyone is familiar with the food token craze that hit decentralized finance (DEFI), whether it’s Uniswap, Sushi Swap, EIFI AMM Dex or the plethora of other projects. With EIFI being a BEP-20 token used on the BSC, it allows users to boast fast transactions and fees that trump those of Ethereum. EIFI AMM Dex is the #1 AMM platforms on the BSC, which puts it in the same field as ERC-20 based AMM’s such as Uniswap and Sushi swap.
For those who are unfamiliar with AMM’s, they allow people to trade their digital assets against liquidity pools. This is different from traditional markets that use an order book to match buyers and sellers. On AMM’s users can provide their funds once deposited, they become liquidity providers (LP) to the respective pool are receive LP tokens, which we will dive into further.
Advantages of EIFI AMM Dex
Earn tokens from EIFI Finance
EIFI Finance has its own native BEP-20 token, EIFI, which can be stacked or spread across Syrup Pools. Syrup pools provide tokens from other BSC projects and Cross-chain projects such as CertiK (CTK), ECC, to name a couple.
No, Know Your Customer (KYC) policy
Unlike many centralized exchanges, anybody can trade from the hundreds of digital assets with over $100,000,000 in liquidity. Did I mention its super simple to use? There will be more information below.
Low Fee’s & Quick Transactions
As previously mentioned, EIFI Finance runs on Binance smart chain and using BEP-20 tokens. BSC has much lower fees than Ethereum, with fees ranging anywhere from $0.04- $0.20 and transaction taking about five seconds on Binance smart chain.
EIFI Finance is Secured and Audited by CertiK
EIFI Swap has applied the audit of EIFI platform source code from CertiK. And it will be complete very soon and live for every user to our website. On top of this, CertiK and EIFI Swap have integrated all the following resources:
— Security Oracle
— CertiK Shield
— DeepSEA
— The CertiK Virtual Machine
It is very important to note that EIFI token has an unlimited total supply, and at the time of writing is still a positive emissions rate. At this point in time EIFI is still an inflationary token but its team is working to introduce new deflationary measures on top of its lottery system.
EIFI Yield Farming
As we all know why most of you are attracted to EIFI, That is because of EIFI yield farming protocol, which you cannot even fathom from centralized finance (banks). We are planning to live couple of different ways to earn yield on EIFI Dex. There will be 20+ liquidity pools on EIFI Swap at the time of writing, and they offer yields ranging from 6%-340% APY for supplying liquidity.
The Brief details will be share very soon, once the platform audited and live for worldwide users.
The yield from the LP is reward in EIFI. This governance token can also be staked and used to participate in a deflationary lottery. When providing liquidity to these pools it is crucial to understand how AMM’s work and the arbitrage opportunities they provide, putting the LP’s at risk of Impermanent Loss (IL). This can be exceptionally risky when pooling un-correlated assets and have high volatility, so it is essential to understand the risks associated
Yield can also be generated through staking EIFI tokens. EIFI can be staked in the Rocket pools that average about 600% APY at the writing time. As mentioned previously, you can stake EIFI to earn EIFI, and even TWT (Trust Wallet token).
How to Accessing EIFI AMM DEX
To access EIFI Dex you must use one of the following wallets, for this guide we will show how to create a custom network in the Metamask wallet and connect it to BSC.
If you are unfamiliar with navigating the Metamask tutorial by an early BSC project, is great. Once completed you will be able to access EIFI DEX and begin swapping, staking, and providing liquidity.
The Details view and review will share very soon to worldwide users.
Once liquidity is provided, simply navigate to the farm tab, select your respective pool, approve the EIFI tokens, and then begin farming.
To stake EIFI navigate to the Rocket POOL tab and approve the contract, then stake EIFI to the respective pool.
What’s Next?
The team behind EIFI Swap recently released their road map. This outlines many exciting features that are on their way. The most significant updates consist of the Initial Farm Offering’s, Lending & Borrowing, Margin Trading, and the building out of a NFT Ecosystem. Below the complete roadmap published by the team over at EIFI Swap can be seen.
EIFI Overall thoughts
EYFI swap is the most used AMM and farming projection BSC. It boasts a TVL of ~$100,000,000 and a daily volume of $12,205,198.This pegs it as one of BSC’s largest projects if not the largest. EYFI Swap will continue to provide high volume and lots of liquidity to the BSC, especially as the world of DEFI expands.
DeFi on BSC is a massive step as it allows users to participate DeFi while not worrying about exorbitant fees, which can be seen on Ethereum. While BSC has a lot of growth ahead of it, Binance is stimulating the ecosystem and EYFI Swap specifically through the Binance Accelerator Fund, a $10,000,000 fund to help DeFi projects in the BSC.
Overall, the DeFi space is rapidly expanding both on Ethereum and BSC, and EIFI Swap is building itself a name in the room where it continues to innovate. The team has plans to develop itself further and bring more innovation to both DeFi and BSC making it a project worth paying attention to.
✅Join Us Today👉https://www.eifi.com/
✅Follow us on -
► Facebook:- https://www.facebook.com/Eififinace/
► Twitter: — https://twitter.com/EifiFinance
► Medium:- https://eififinance.medium.com/
► Reddit:- https://www.reddit.com/user/Eyfi_finance
