This article was first published on The Blueprint by Bluzelle - Medium
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As Bluzelle is working with DeFi projects for our Oracle services, we see DEXs play an important role in the growth of the blockchain industry as they can make it easier for customers to exchange $BLZ and pay for services like Bluzelle.
DEXs such as Uniswap, Balancer & Curve are becoming extremely popular. According to DEFI Pulse, $40.16 Billion worth of crypto assets are locked as of today, almost 4X growth in the past 90 days. With its neck-breaking growth, it’s important for BLZ to be well-positioned there.
We are kicking things off with a BLZ-USDC pair on Uniswap along with a 4-week incentivized liquidity pool. This will serve as a test to see how it performs with our long-term objective to have highly liquid $BLZ pairs across the major DEXs.
What is Uniswap?
Uniswap is a protocol that allows buyers and sellers to swap ERC20 tokens without the use of an exchange or order book. Uniswap uses an algorithmic equation that automatically determines the swap rate based on the balances of both tokens and the actual demand for this swapping pair.
Anyone who supplies equal values of ETH/USDC and an ERC20 token to the Uniswap exchange contract is called a liquidity provider. In return, they are given tokens from the exchange contract which can be used to withdraw their proportion of the liquidity pool at any time.
Whenever someone trades on the exchange, the trader pays a 0.3% fee which is added to the liquidity pool and split proportionally between all existing liquidity providers.
Bluzelle x Uniswap Incentivised Liquidity Pool
We are launching liquidity pool on Uniswap where contributors have the ability to earn BLZ without the need to stake on the Bluzelle platform. Starting with BLZ/USDC pool, more other pairs will ...
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The Blueprint by Bluzelle - Medium