MakiSwap Reaches $50m TVL on HECO in Just 5 Days after Its Launch
This content is provided by a sponsor
Decentralized exchange and yield farming platform MakiSwap has reached $50 million in Total Value Locked (TVL) within three weeks of its launch on Huobi Eco Chain (HECO).
The liquidity flooding into the four pools was such that the automated market maker (AMM) saw over $23 million locked within just three days of launch.
Initially, liquidity pools included MAKI-HT, MAKI-HUSD, HT-HUSD, and LAYER-HT, though ETH-HUSD, BTC-HUSD, USDT-HT, and USDT-HUSD pools have since been added.
The highest APY currently offered is 2,624% for the MAKI-HT pool. Most liquidity has gone into the ETH-HUSD pool that is currently amassing over $11 million in TVL, which offers an APY of 190.88%.
The Unilayer-powered MakiSwap protocol became the first dedicated AMM on HECO when it launched on May 28. As well as token swaps, MakiSwap is planning to add new protocol features in the near future such as: limit orders, tradingview charts, analytics, NFT marketplace and IFO launchpad.
MakiSwap will also release its Initial Farming Offering (IFO) platform in a few days, an event that is expected to increase demand for MAKI tokens since they are required for participation.
MakiSwap and Unilayer founder Geo previously referred to HECO as a “hidden gem,” noting that its adoption statistics rivaled those of Ethereum and Binance Smart Chain (BSC).
About MakiSwap
MakiSwap is a Unilayer-powered protocol that realigns incentives for network participants by introducing revenue sharing and forum-driven network efforts to the popular AMM model. Built on the Huobi Eco Chain (HECO), it offers speedy transaction times, cheap gas fees, and deep liquidity for tokens running on HECO.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
