Journey Of CafeSwap So Far
Quite a rollercoaster of a week, don’t you think? Unsurprisingly, the Café has been buzzing as well in the last few days. Missed out on all the action? Here’s a recap of all the happenings on CafeSwap in this 2-month long journey. Grab a brew, you’ll need it.
The Journey So Far
Some backstory will paint a clear picture of the progress of the Cafe. CafeSwap started as a community-driven project with an all-hands-on-deck philosophy. Little wonder, $BREW got sold out within 2 minutes of the pre-sale process on 11th Feb 2021.
New DEX And Analytics, Same CafeSwap
The current abode of the Café wasn’t our first home. CafeSwap moved from its old platform to a newly launched DEX, and we had the full backing of brewers.
Though brewers were enthusiastic about the move, we incentivized the process so that liquidity providers get rewarded for their input. $MOCHA is to be distributed to those who moved their LP tokens to the pools on the new DEX site.
$BREW Got Listed
$BREW got listed on Coingecko, Coinmarketcap, 1inch, and DappRadar within a few days of launch.
The migration of CafeSwap to its new DEX site coincided with the listing of our native token, $BREW on centralized exchanges.
It was a pleasant sight to see $BREW being traded on not one, but two reputable centralized exchanges, BitMart and Bithumb.
Brewers received the news with gladness as these listings create massive awareness for CafeSwap, which trickles down to a better return on investments made.
New Partners Entered the Fray
As CafeSwap gained traction, allies — who saw the exciting opportunity that comes with a collaboration — reached out to us, and we obliged after doing the necessary background check.
Since its inception, CafeSwap has partnered with Beefy Finance, Apeswap, Hyperjump, ITAM Games, Ditto Money, DeFiPie, Supra, and Astronaut, resulting in a deluge of staking/farming pools for brewers and community members of these projects. Everyone is a winner with CafeSwap.
Being a community-driven project, CafeSwap smart contracts just had to be audited by the most credible auditing outfits. So we got the duo of Certik Skynet and HashEx to scrutinize the codes in our smart contract.
The report of these audits — overly positive — did provide clarity for investors still watching from afar the activities in the Café. With transparency secured, more brewers got involved.
More Use Cases and something else
With brewing in full swing, the supply of $BREW grew significantly. Though the CafeSwap native token had its uses — staking and fee-sharing — we knew it wasn’t enough to withstand the effects of a glut of $BREW in circulation.
To get around this challenge, we created the CafeSwap lottery. Here, $BREW is used to buy tickets, and winners — only a handful of them in every round — get a share of the contributed $BREW.
The chances of winning the CafeSwap lottery aren’t as slim as the conventional lottery and there are more winners. A portion of the contributed $BREW is burned, reducing the supply of our native token.
Beyond the lottery, CafeSwap started the weekly burning of 10,000 $BREW. This has seen more than 120,000 $BREW being burned. The aftermath is a decrease in supply that has reflected positively on the price of $BREW.
More Farms and Staking Pools Added
More farms mean more harvest. So more farming and staking pools have been added — that’s more ways to brew. The more, the merrier, remember?
You can now farm $BREW using the BNB-3CS pool. With the massive APR offered, it’s no surprise more brewers are loving this new addition. Of course, our collaboration with Crypto-Cricket-Club made this possible.
Brewers can stake $BREW to earn $NAUT and at an amazing APR. Holders of the $NAUT can join the brewers club by staking their NAUT-BNB LP to earn $BREW. This is largely due to Café’s partnership with the Astronaut Token.
Smart Vault? Say Hi to Higher APY
We introduced Café smart vaults that automatically compound the yield from farming pools. The result is a higher APY as yields are reinvested. Though brewers can take advantage of these Café smart vaults, anyone using Defi platforms can leverage this compounding tool to their advantage.
$MOCHA is Coming
Brewers have been through thick and thin for the Café, so it’s no surprise that CafeSwap is about to spoil them silly with the delectable $MOCHA.
While rules guide this airdrop splash (there are always rules), most brewers should make the cut. Not sure of your qualification? Here’s a brief detail of the requirements to help you:
Brewers that moved their old Cake LP to the CafeSwap liquidity pool within March 21st to March 31st, 2021 will be rewarded with 250 MOCHA tokens each. This applies to all brewers that carry out this migration exercise within this timeline, regardless of the size of their LP token.
If you staked your BREW tokens before the 20th of March 2021, then you’ll get $MOCHA.
Though most brewers will get $MOCHA, the quantity of the rare token you’ll get depends on when you started brewing — the Café is loyal to a fault. Also, the quantity of $BREW stake determines the number of $MOCHA you’ll get.
New Partnerships and More
The Café might be all functional and efficient, but the crypto space is an onerous place that is best traveled with partners and worthy collaborators. This explains our desire for fruitful partnerships that will put CafeSwap right in the mix of things.
The Café is opening its doors to both patrons and partners. Of course, partners will be vetted to ensure only those as purpose-driven as our brewers get to be considered partners.
Though the search continues, brewers are free to offer their suggestions on possible partners and CafeSwap will consider it.
As always, the Café draws its strength from brewers. Without you, CafeSwap would be non-existent. So keep brewing and may the $BREW be with you!
Social Handles And Important Links :
Telegram Ann: https://t.me/cafeswap
Telegram Group: https://t.me/cafeswapAnn
Smart Vaults: https://smartvaults.cafeswap.finance