Melega.finance decentralized exchange has developed various novel options for crypto investors, traders, and users to make residual revenue with little to no risks from the platform. Similar to many other DEXs, Melega provides many opportunities for users to make money using their crypto tokens rather than simply “hodling” them in their wallets.
MelegaSwap is a new Automated Market Maker (AMM) DEX that is based on the Binance Smart Chain (BSC) network and offers amiable trading and superior project support.
In contrast to the past when they didn’t have many uses, the rise of decentralized finance (Defi) has created new opportunities for cryptocurrency users to utilize their coins for a variety of purposes, including using them to earn profits rather than keeping them idle in their wallets.
For crypto investors, earning passive income through decentralized finance has shown to be a great decision, especially during a bear market. Staking, yield farming, and liquidity mining are the most common techniques, and all of them are accessible on the Melega.Finance exchange.
Although they are more common in decentralized platforms, some centralized crypto exchanges such as Binance also offer some of these services to their users.
To know the difference between a decentralized and centralized exchange, please check this post here.
However, let’s discuss each of these methods and how you can easily get started on MelegaSwap.
Yield farming is a method of putting money in a liquidity pool in exchange for rewards. Users receive a fee or interest for allowing their assets to be used across the network or for borrowing and selling. These tokens are locked by a smart contract in a Decentralized Application (Dapp).
This is somewhat similar to making a deposit into a bank account and allowing it to be used for borrowing money or other purposes in exchange for which you receive a specific amount of the interest earned. The Defi ecosystem is supported by yield farms, which also contribute to assure high liquidity.
MelegaSwap is a decentralized finance (DeFi) platform that makes it simple for users to access yield farms. The platform provides users with access to more than 20 pairs for farming. This can range from 98% to 957%-depending on the token (s) you want to select.
Staking in cryptocurrency is one of the most effective ways to earn incentives for holding specific cryptocurrencies. This is frequently applied in the Proof-of-Stake (PoS) consensus mechanism, where crypto users act as node validators and verify the reliability of network transactions, while also maintaining the platform’s security and liquidity.
You are compensated with the cryptocurrency of your choice for locking up your crypto tokens and safeguarding the platform.
Since MelegaSwap is built on the Binance Smart Chain (BSC) network, a large variety of crypto tokens with very high rewards are available for staking on the platform.
You can stake $MARCO, the platform’s native token, to gain additional lucrative tokens. Additionally, you can stake a variety of additional tokens to gain $MARCO, which is a fantastic, consistent way to acquire Melega’s ecosystem token.
Liquidity is the ability of an asset to be sold or swapped rapidly and without impacting the price, as well as a measure of how easily an asset may be converted into cash.
A liquidity pool, on the other hand, is a combination of digital assets accumulated to permit trading on a decentralized exchange (DEX). A smart contract protects this digital supply of cryptocurrencies, creating liquidity and facilitating faster transactions.