becomes latest CEX to foray into DeFi yield farming after Binance and OKEx introduces a platform where interested parties can farm their DeFi tokens CRO and earn "Triple Yields"

By · Sep 12, 2020 . 5min read in Defi news

As major cryptocurrency exchanges join in to cash in on the ongoing DeFi boom, becomes the latest big wig to join the fray with the launch of DeFi Swap, targeting liquidity providers who are always on the constant lookout for yield farming opportunities.

Announcing today the launch of DeFi Swap on Ethereum mainnet, introduces a platform where interested parties can farm DeFi tokens and earn “Triple Yields”.

Liquidity providers would earn through Swap Fee sharing as 0.3% of trading volume in the liquidity pools supported. Also, traders who hold CRO and stake, the platform’s native token can earn bumper yield up to 20X. The last earning opportunity in the DeFi Swap Triple Yield is the Bonus LP Yield as LPs will receive tokens redeemable for additional coins of participating DeFi projects.

The exchange has wagered 14,000,000 CRO tokens for the first 14 days in the liquidity mining phase. Hence, liquidity providers will earn 1,000,000 CRO per day. And once again,’s DeFi Swap code is a fork of Uniswap. The only added feature is the Triple Yield incentives feature. Also, the internal team audited the code with Slow Mist as the third-party smart contract auditor.

Perhaps the most exciting part is that DeFi Swap is not permissionless like other DeFi protocols. in the DeFi Swap Whitepaper bars participants from specific countries from participating in its yield farming platform. becomes latest centralized cryptocurrency exchange to foray into DeFi yield farming after Binance and OKEx
List of countries barred from using’s DeFi Swap

Centralized exchanges can’t resist the exponential growth with the DeFi boom, hence launching their yield farming platform.

The latest trend we see today in the cryptocurrency industry is big established exchanges launching their own yield farming initiatives. We saw Coinbase release ERC20 token listing criteria recently. Many interpret the step as a sign that the exchange wants to hasten DeFi ERC20 token listings. Binance recently made a debut in the DeFi space by announcing Binance Launchpool. Almost immediately, OKEx has announced Jumpstart Mining while Huobi announced its DeFi Mining Campaign earlier.

The trend among big exchanges will most likely continue until the DeFi craze slows down just like we saw during the IEO days also.

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