FairySwap Locks $6 Million of Value on Platform in Initial Staking Campaign

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Mar 17, 2022, 10:02 ET

Successful giveaway campaign sends FairySwap off to the races!

CALIFORNIA CITY, Calif., March 17, 2022 /PRNewswire/ -- FairySwap, a novel type of privacy-preserving DEX, successfully locked value exceeding $6 million on its platform (TVL), from a giveaway campaign lasting 12 days. Liquidity mining starts soon, which will distribute 97% of governance tokens to its community, ensuring community control of the DEX.

Created to reward early adopters and encourage future liquidity mining, total locked volume of FRA tokens (Findora's native token) during the campaign reached 187,388,406 with thousands of community participants. Those members will share a 60,000 $FAIRY reward pool.

FairySwap is geared to keeping sensitive personal and transaction data private on a public blockchain. Leveraging zero-knowledge proof technology on Findora's Native Chain, FairySwap offers confidential transactions that can shield data like transaction amount, types of assets used, even wallet addresses. FairySwap will be able to protect this information even while publicly verifying it on the Findora blockchain.

With the liquidity that was locked on the platform, the project plans to soon start liquidity mining. For updates on official start date, the FairySwap team advises users to follow them on Twitter or Telegram. Liquidity mining is key to FairySwap's future governance.

100% of governance tokens will be distributed to users, the vast majority, 97% through liquidity mining rewards. Liquidity mining is thus very important for the community from the beginning, and ongoing because they will decide FairySwap's future.

"FairySwap is proud of its radical commitment to the democratization of DeFi and is excited to open liquidity mining," said a spokeswoman. "We've structured our tokenomics this way to make sure that those who use the platform also govern it. We didn't reserve tokens for insiders or angel investors. We want the future of privacy finance to be truly decentralized."

About Fairy Swap:

FairySwap is the first Automated Market Maker Decentralized Exchange built on Findora, a new kind of blockchain that provides on-chain confidentiality and programmable privacy. With Findora's EVM, FairySwap gives you unbelievably fast cross-chain swaps with Layer 1 chains like Ethereum and Binance Smart Chain, while minimizing fees and maximizing efficiency.

FairySwap is pioneering Findora's DeFi and metaverse future, with 100% commitment to privacy protection, auditable transparency, and permissionless access. We're creating a future where anyone in the world can access needed financial services without exposing personal data or risking identity theft.

Learn more at http://fairyswap.finance/ or join their community https://t.me/FAIRYSWAP

About Findora

Findora is a privacy blockchain, built with zero-knowledge proofs, which aims to establish "PriFi" or Privacy Finance. Using state-of-the-art technology like bulletproofs and PLONKs, Findora creates a publicly verifiable ledger that doesn't expose any individual or transaction data. Built to provide privacy and auditability, it's the next step in blockchain technology.

Learn more https://findora.org/

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SOURCE FairySwap