CobraSwap is a fairly new decentralized exchange (DEX) The First automated market maker (AMM) with the lowest exchange rate on the market 0,088%
Have the most profitable farm option on Binance Smart Chain with a big referral bonus. We have an Anti Whale function 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 CobraSwap exchange work, and how you might be able to benefit from it yourself.
What is CobraSwap?
CobraSwap is a DEX on the BSC using permissionless liquidity pools that are automated and run completely by algorithms. This use of algorithms to run the pools makes Cobra Swap an automated market maker.
If you haven’t used an AMM yet they are exchanges that allow users to trade digital assets against liquidity pools and collect yields. This is more like a dividend bearing stock or a bond than a traditional exchange where an order book matches buyers and sellers and profits are only made by selling your assets. In the AMM a user loans their digital assets to liquidity pools and in return they receive liquidity tokens that they can then stake to earn more digital assets.
What can you do on CobraSwap?
As you might already be guessing based on the explanation above, Cobra Swap allows users to exchange BEP-20 tokens. It also allows them to use their cryptocurrencies to provide liquidity for the exchange pools, and thus earn additional tokens. It’s also possible to stake tokens on CobraSwap and earn more tokens from that method.
Cobra Swap allows for all the following:
- Provide liquidity to the exchange and earn fees
- Stake your LP (liquidity provider) tokens to earn COBRA token
- Stake COBRA to earn more COBRA
Using CobraSwap
Using CobraSwap isn’t difficult once you understand what’s going on in each areas of the site. When you first visit the website it can be difficult to get a handle on what’s happening, but that’s because many of the features remain locked until you connect a wallet and unlock it.
Once that’s taken care of you’ll see loads of additional information that was missing before you had an unlocked wallet connected to the site. You’ll see all the different returns offered in the various farms and pools and you’ll have the chance to add liquidity and to stake tokens yourself.
Adding liquidity
If you’ve experienced using an AMM you know how this works. It’s not really difficult, but we know some people balk just because they aren’t familiar with the process. So, the first step to take when using CobraSwap is to add liquidity to the exchange.It all begins with adding liquidity.
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Find “Trade” in the left sidebar and click it to drop down the menu. Next click on “Liquidity” and then click “Add Liquidity”.
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Next you’ll select the token pair you’re interested in depositing to provide liquidity. You have to choose each side of the pair, and if it is a completely new pair the ratio of tokens you provide will set the price for the pool.
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How to Farm
This is where the magic begins and I’m sure this is why so many of you reading this are interested in Cobra Swap. The yields available from farming are simply mind blowing, whether compared to traditional bank interest rates or not.
So you have some LP tokens from the previous step and now it’s time to stake them and earn yourself some COBRA. First thing you’ll need to do is navigate to the “Farms” tab in the left sidebar. Next you want to select the option that matches your LP tokens.
You’ll see that there are a number of ways to earn yield on Cobra Swap. At the launch there will be 15 different liquidity pools with a high APR (APR varies depending on the number of participants in each pool) where you can stake and earn yields providing a pool of liquidity.When you supply liquidity to the pools you’ll be required to approve moving the tokens to the pool. Your approval is what allows the smart contract to withdraw the tokens on your behalf. When you connect your wallet you’ll have the chance to stake your LP tokens by clicking to Approve Contract. When you click the button you’ll see a popup asking you to confirm the transaction and informing you of how much the fee will be for this transaction.
At that point select the amount you’d like to stake and confirm it. Once staked you can leave the page and any time you come back you’ll be able to see how much COBRA you’ve earned. You can click Harvest at anytime to harvest your rewards and move them to your wallet.
Just to give you an idea here are just some of the pools available for farming
How to Stake
In order to stake some COBRA tokens (or other tokens) you first need to buy some COBRA tokens along with some BNB and transfer them both to a wallet that’s supported by CobraSwap. The BNB can be transferred to your BEP-20 BSC address for paying your transaction fees.
To begin staking COBRA (or other tokens) you first need to connect a wallet to Cobra Swap. Once that’s done you can go to the “Pools” tab on the left side of the Cobra Swap site. That will present you with the available pools where you are able to stake your COBRA (or other tokens) and earn more COBRA or other BEP-20 tokens.
What other tokens will available to staking you can see on image
CobraSwap Advantages
There are some obvious advantages to Cobra Swap, and then there are the behind-the-scenes advantages that aren’t as well known, but are no less important for that.
- Anti Whale function
- No migrator code
- Referral Program with 3% from every referral — FOREVER!
- Lowest exchange fee — 0.088% per swap
- Profitable liquidity pools
- Insurance fund (SAFU)
- Smart regulation of deflation
No KYC Requirement
Every centralized exchange we know about follows the requirements for Know Your Customer and Anti-Money laundering (KYC/AML) which removes users’ privacies by requiring them to provide extensive documentation to prove their identity.
As a decentralized exchange under no regulatory authority users are able to transact with privacy at CobraSwap. Anyone anywhere in the world is able to trade of assets available at CobraSwap. Our liquidity will growth fast.
CobraSwap Fees
If you’re familiar with other AMM’s like PancakeSwap and Sushiswap you’ll recognize the system whereby users provide liquidity to pools and receive LP (liquidity provider) tokens in exchange.
These LP tokens give holders the right to collect a portion of the trading fees generated on the platform. The trading fee at CobraSwap is the lowest in all AMM’s 0.088%, with 0.0440% (50%) going to the liquidity providers, 0.0352% burns from every trade (40%), and the remaining 0,0088% goes to the Insurance Fund (SAFU). (10%)
Emission Rate (June 2021)
- 40 COBRA/block
- 691 200 COBRA/day approximately
Is CobraSwap safe?
CobraSwap is planned to be audited by top 3 companies:
- TechRate
- Hacken
- Certik
To prove our code is safe and secure
COBRA does not have a migrator code in its contract.
In order to build confidence in CobraSwap we discarded this code. It’s not a popular choice among …. but we believe it is the right one for our users.
On the other hand, we sincerely advise you to be careful with all the DeFi financial transactions
CobraSwap Supported Wallets
CobraSwap has support for a number of popular wallets, including Trust Wallet, TokenPocket, WalletConnect, MathWallet, Binance Chain Wallet and MetaMask.
Conclusion
Your investments will be safe with CobraSwap.
Join us on:
Twitter: @Cobra_Swap
Telegram: @CobraSwap_channel
Instagram: @CobraSwap
Reddit: @Cobra_Swap
