Nomiswap launched in December 2021 – it is a subsidiary of the centralised exchange Nominex, founded by the Russian team in 2019. Both platforms have a single utility token – NMX.
According to the DappRadar website – the exchange ranks 23rd in terms of monthly trading volume – $18m and at the same time 9th in terms of number of users – 15k. This suggests that no whales have entered this DEX yet. Conclusion can be 2: either there are reasons not to enter, or vice versa exchange is not yet promoted enough. I lean towards the second.
Set of functions on exchange as simple as possible and it’s great.
- The main function – cryptocurrency exchange – swap
- Liquidity farming
- Launchpooling your own token
- Referral program
Let’s briefly consider the main functionality, because this is not the most interesting thing in this exchange.
Swap – cryptocurrency exchange
As of July 2022, 33 tokens on the BSC blockchain are represented. Recently it was three times less, which may have affected the audience, but even with that number of tokens, the exchange’s audience is in the top 10, which means the current token expansion will help steep growth.
The team added + 24 new pairs at the end of June, there are now 38. APR from 14% to 127%. For completely risk-free farming USDT/USDC – 6,85% APR. Also the team has recently added a reinvest feature, which puts the interest earned straight back to work, which helps to form compound interest. Next to each pair there is a handy farming yield calculator. Unlike some platforms, the APR is listed transparently, which is confirmed in the calculator.
One Launchpool is presented – essentially an NMX stacker. You invest NMX – you earn NMX. Since the launch of the exchange in December, the percentage has gradually dropped from 300% APR to 106% as of June 2022 due to the steady inflow of new investments in the exchange, particularly in the pool, which has 9.5 million coins as of July.
Referral programme – team pharming
Exchange encourages as an invitation to new participants, of course, but also cool to register on referralkam, as it takes into account the referral farming and bonus new participants, so if you register by link current farmer, you will steadily receive a team bonus of up to 20%. I haven’t seen such a feature anywhere before.
Despite having only standard functionality, it has everything you would expect from an exchange. Also, the guys are clearly following their roadmap and are constantly delighted with new features. The interface is made amazing in terms of UX.
When the whole market is pouring in, NMX slumps, but always relative to others – minimally. Throughout the bear cycle of 2022, until mid-June, the coin is down only 23%, and the farming interest is nonetheless generating tangible profits, overriding the slight decline. I confess that it is the only plus coin in my long term portfolio and all thanks to lunchpool interest.
There are several reasons in my opinion. It explains the stability of the coin and is also a key advantage of the exchange.
A reward system for farming or simply steaking in the luncheonpool – motivates holding the coin and not selling for as long as possible. The longer the hold, the higher the bonus. And the hold bonus is also a plus to the basic farming percentage which is quite high on its own!
High farming rates
Interest rates in farming such as 1000% APR are far from uncommon. However, such rates tend to last for a couple of days, and any more or less prolonged such rate leads to a token collapse. The Nomiswap team has solved this by giving holders a bonus, which motivates them to hold the coin for a long time and get a high rate of return, as it becomes more profitable to hold rather than sell.
- The most powerful X’s are of course the listings on the major exchanges.
- Worth noting are the interesting mechanics to incentivise holdings – a positive impact on the exchange rate.
- Support from the team in difficult market situations.
- Potential for volume growth by adding other tokens.
- Reliability of smart contracts audited by Certik
- One of four DEXs that have passed Binance’s acceleration programme The #MVBII Enters Phase Two: Meet Top 20 Projects
I recommend exploring the exchange and evaluating for yourself. Register via this link to get the maximum team bonus.