Cafeswap, is a Binance smart chain yield farming, staking, and AMM platform.
Recently, they have announced they would be disabling some non-compliant farms in other to allow for the addition of high liquidy farms. This is being done so trading volumes can increase without compromising the quality of farms.
Because Cafeswap is focused on protecting brewers(users who stake on the platform), their investment, and their confidence in the platform, it was necessary for pools that couldn’t meet the term for liquidity to be removed and replaced with pools that do.
The liquidity farms that would be disabled are;
BREW--FLP, xDITTO--BNB, wIQ--BNB, LORY--BNB, SPHN--BNB, BREW--BANANA, ITAM--BREW
But this development also came with great announcements users of the platform would love.
New liquidity farms are being introduced. These farms would soon become some of the core farms on the platform with the most demanding liquidity. These new pools will ensure liquidity providers stake their holdings and generate rewards proportional to their share of the total liquidity pool.
In recent years and in the crypto farm-staking sphere, high rewards have always been the biggest motivating factor to attracting the right investors and crypto enthusiasts. It is therefore important for Cafeswap to make these new farms high yielding, and easily accessible.
These newly added farms are;
XRP--BNB, MATIC--BNB, LTC--BNB, LINK--BNB, ADA--BNB, BUSD--DAI, UST--BUSD, COMP--BNB, AAVE--BNB
They all went live on the 9th of Oct, 2021 with a 1x multiplier.
But prior to all these, Cafeswap had extended to Polygon, a multi-level platform with the aim to scale Ethereum to many other blockchains. They announced their launch and went live on the 25th of September, 2021.
As with anything that comes with this kind of growth, Cafeswap launching on Polygon comes with its own benefits for Brewers for instance;
Brewers now have access to cross-farming opportunities and rewarding decentralized exchange. One of the major goals of the team at Cafeswap is to build a platform that can be used across multiple blockchains, and this they are doing by launching on Polygon.
The launch comes with a pBREW token native to the polygon platform while still allowing users the use of the Anyswap bridge to transact and transfer their BREW and MOCHA (the original Cafeswap tokens) tokens to polygon without any transaction fee.
Because of this integration, and the ability to easily transfer tokens, holders can now have a seamless cross-farming experience. Also, even pBREW, the new token native to Polygon can at later date be used on BSC, the original Cafesawp blockchain.
Polygon has an edge when it comes to processing speed, scaling, and low transactions fees. With the platform staying decentralized and becoming one of the fastest-growing ecosystems with over a 60million unique addresses, Cafeswap now has access to more eyes on their staking and farming thereby leading to more users on the platform.
Following this integration and launch, users can now have;
A Cafeswap Portfolio; With the portfolio tracker users can keep track of the staking positions, and farm income in one place.
Cafeswap Migrate: This allows users to easily transfer their LPs from other decentralized exchanges like Quickswap, Apeswap, and Sushiswap to Cafeswap with a single click.
Cafeswap have been upto to a lot of platform development recently and we can’t wait to see what more they have for their users.