The world of decentralized finance (DeFi) opened up an enormous opportunity for crypto enthusiasts and novices. Despite the advancements of this decentralized crypto niche, there is still a lack of DeFi applications and platforms that provide the entire DeFi services spectrum in one place, including DEX, Yield Farming, NFTs, crypto wallet, and other services.

AnchorSwap launched on August 14, 2021, is a state-of-the-art decentralized exchange (DEX), providing a seamless all-in-one approach to interacting with various crypto financial products and services, like AMM, Wallet, and NFT platform.

The recent DeFi and NFT craze congested Ethereum’s blockchain since the majority of projects run on the altcoin leader’s network. AnchorSwap’s team decided to go a different route, building all of its functionalities on top of the Binance Smart Chain (BSC), which ensures faster transaction execution, as well as a cheaper way of handling transactions.

Key functionalities

The platform features a vast array of functionalities, including Automatic Liquidity and Burning.

Furthermore, AnchorSwap cleverly decided to design a lockup mechanism designed for farming rewards. The mechanism ensures no farming arbitrage bots can constitute a collection of rewards and then dump them.

Also, the token was constructed without a migrator code, which means AnchorSwap’s development team can’t deal with the tokens without authorization, preventing exit scams and other illicit behavior.

Being run on BSC, the ANCHOR token sits at the base of the entire AnchorSwap community, granting ANCHOR users the right to participate in decisions about features, new pools, new farms, and the latest updates by voting with their tokens.

Tokenomics, Pools & Swaps

As noted earlier, ANCHOR is the heart of the entire ecosystem. Users can stake one of the most trending cryptocurrencies in any of the six active pools in order to earn ANCHOR tokens. The cryptocurrencies include ANCHOR, Binance USD (BUSD), Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), And Pancakeswap’s native CAKE token. The APY varies, but on some pools, users can receive up to 200% APY and in farms, the APY can go up to 400%.

However, receiving ANCHOR tokens has its limits, namely – the maximum supply, hardcoded in the token. The ANCHOR maximum supply is set to 250,000,000, with new blocks minted every three seconds, which means the maximum supply is expected to be reached by the end of 2023.

The emission rate is 100 ANCHOR tokens per block or around 2,880,000 ANCHOR per day. A nine-percent share of the emission rate would flow to the development team to ensure no exit scams and to provide a steady growth of the platform.

In order to maintain AnchorSwap’s functionalities, the team has set up several taxes for swapping, transferring, and depositing. The first is the swap fee, which is set at 0,2% per swap – 0,15% are automatically transferred to liquidity providers, while 0,05% of the swap is allocated to AnchorSwap’s treasury fund.

Each transaction on AnchorSwap’s native ANCHOR token happens with a 2.5% tax. The majority of the funds (2% of the transaction) would be automatically transferred to the ANCHOR liquidity pools (0,66% to ANCHOR-BNB LP – 0,66% ANCHOR BUSD LP – 0,66% AnchorPool), while the remaining 0,5% are sent out for burning, which ensures the price per ANCHOR stays high, as the supply diminishes.

Depositing taxes vary from 0% to 4% and are charged on every deposit. However, the values will be adjusted in the future, as the fee is used to maintain the token’s value and the development of AnchorSwap`s ecosystem.

NFT Platform & Future Updates

Despite offering such a vast array of functionalities, AnchorSwap’s team would offer a whole new range of updates, which will enrich their users and community experience.

ANCHOR has been already listed on major market data providers like CoinMarketCap and CoinGecko, as well as on centralized exchanges like the recent LaToken listing from late November 2021, and decentralized such as PancakeSwap.

However, one of the biggest improvements in 2022 would be the release of AnchorSwap’s custom NFT platform, which will allow ANCHOR holders to grab a piece of the rapidly booming sector. The scheduled launch of the NFT platform, as well as an NFT Launchpad and access to limited NFT sales, is expected to take place in Q1 of 2022.

A further milestone that the team is aiming to complete in Q2 of 2022 would be AnchorSwap’s custom multi-wallet, called AnchorLink. AnchorLink would provide the functionalities needed for going cross chain with the NFTs, which would lead to market expansion and a greater value for ANCHOR.

In addition, the in-house multichain wallet will fulfill another supreme discipline of the crypto scene: A complete fiat gateway for easy, secure and fast transactions between crypto and fiat accounts. 

Starting in January 2022, the AnchorSwap team would also launch a $50,000 worth of ANCHOR Airdrop, which already got 1500 interested participants and the interest in the campaign continues to grow strong with each day.