June was an important month for the MetalSwap project with the release of the NFT staking feature, which improved liquidity around the XMT token.
In today's recap, we summarize this and much more. As always, the article will be divided into the following major areas:
In this section, we examine the main achievements of the past 30 days:
As mentioned in the introduction, the NFT staking feature was finally released in June. This feature incentivizes the liquidity of the XMT/USDC pair on Optimism and has already reached a TVL of $12,000.
NFT staking rewards and TVL
As an incentive, the foundation deposited 500 OP and 5000 XMT, with 10% of the rewards distributed every Friday.
For more information on the feature, we recommend reading the dedicated article.
Given the importance of this release, the MetalSwap team decided to complete a full audit of the smart contracts for the NFT staking feature.
The company Dedaub completed this audit, which is now available in its dedicated section in the official docs.
Now, let's review June’s articles:
One of the most complex aspects of DeFi is selecting the range of liquidity within Uniswap V3 and for this reason the team shared a liquidity management strategy to help users make their choices.
This strategy is specifically called “Dynamic” because it uses a relatively narrow range and therefore might require a more active management approach.
Every month, articles in the “Recap” category are shared to keep the community quickly but thoroughly updated on the project’s development.
For those who missed the last recap about May, we recommend catching up on it.
In the early days of July, an XMT token airdrop is planned for all those who participated in the testing phases.
This will be done as a thank you for the support the community has shown towards developing crucial new features as the NFT staking and the Recall Pool.
Without going into too much detail, we announce that new collaborations and co-marketing activities for the MetalSwap project will be shared in the coming weeks.
Stay tuned for the next updates!
-The DeFi Foundation
MetalSwap is a decentralized platform that allows Hedging Contract on financial markets with the aim of providing coverage to those who work with Digital Asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.
With Hedging Contract we enable hedge swap transactions through the use of Smart Contracts, AMM style.
It's great to Hedge the Risk of Price volatility with MetalSwap dApp !