Bit.Store Launches Liquidity Pools in Partnership With Encentive.io

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Mar 23, 2022, 07:30 ET

SINGAPORE, March 23, 2022 /PRNewswire/ -- Following the spectacular success of its recent listings on Huobi Global, Gate.io, MEXC, Uniswap and PancakeSwap, the Bit.Store team has not slowed down.

The project has just announced partnership with Encentive.io, a decentralized protocol that enables users with a trustless and effortless way to deploy their own decentralized exchanges, to launch Bit.Store's very own SWAP platform, offering Exchange, Liquidity, Farm, Airdrop and other functions. Investors can now begin to earn Bit.Store DAPP native cryptocurrency $STORE via encentive.io smart contracts by deploying their crypto-assets – $STORE, $ACH, or $NEAR – on Bit.Store Farm and receive $STORE token as a liquidity reward.

"Partnering encentive.io was a natural choice for us. Their protocol proved to be the perfect turnkey solution for us to deploy immediately without complexities while maintaining foolproof security backed by rigorous security audits." Explained Co-founder of Bit.Store, David Rutkovsky.

One thing worth highlighting is that Bit.Store Farm TVL had reached over $1 million within a week of the launch of the protocol, seeing APR highs of 4,428% on $STORE/$STORE, 1,114% on $NEAR/$STORE and 244% on $ACH/$STORE.

The liquidity pools currently support Binance Smart Chain and Ethereum blockchains and has plans to expand the support of other competitive L1 blockchains, as well as adding more popular token pairs including stablecoins and native L1 digital assets.

The $STORE utility token which will soon serve a wide variety of functionalities within the decentralized Bit.Store application - from governance voting, to GameFi staking and lotteries, and even fee discounts. Many more utility cases are coming to the Bit.Store decentralized economy.

"Encentive.io has been the perfect solution for us to launch staking and farming features at speed. While we have the capabilities to create our own DEX, the endeavor would require us to redirect resources that are currently being deployed for greater growth and expansion plans. Ecentive.io enabled ease of deployment while helping us bypass time-consuming audits." Added Jacob Princ, business development manager at Bit.Store.

About Bit.Store:

Bit.Store is a SocialFi investment platform designed with beginner investors in mind. The platform gives its users access to global digital currency markets quickly and easily by supporting different money transfer methods via cooperation with a wide network of regional payment providers. The app provides a variety of features, including social trading, following, and copy-trading strategies published by seasoned experts in the space, as well as allowing experts to monetize their contribution to the platform. Bit.Store has managed to achieve a milestone of 500K registered users (by Dec 2021) across Europe and Southeast Asia, and continues its rapid expansion into markets worldwide.

About Encentive.io:

Encentive.io is a meta-platform allowing both communities and projects to build their own De-Fi ecosystems ensuring sufficient liquidity across the pools without the involvement of development tools offered by other third parties.

SOURCE Bit.Store