LKSCOIN has officially entered the new world of Decentralized Finance
LKSCOIN has recently embarked on this journey into the world of Decentralized Finance. A new goal that excites us and of which we are very proud.
But what is decentralized finance? It is a new form of financial system which, unlike the classic centralized model that sees intermediary figures such as brokers, exchanges or banks, uses Smart Contracts through blockchain technology. In the specific case of the LKSCOIN, we are talking about the Ethereum blockchain, where it is already possible to find the LKS SWAP MACHINE that we presented in a previous article:
What is it about?
A software that works as an automated exchange. It exchanges LKSCOIN (which uses a Blockchain modified by X11, the technology used by Dash) for LKSC (which uses the Ethereum blockchain).
The LKSCs allow you to take advantage of the opportunities that the Ethereum Blockchain offers, such as DeFi or Decentralized Finance.
About a year ago Ethereum launched one of the forerunners in the DeFi world: UniSwap. A real Exchange, obviously only for cryptocurrencies, which allows you to convert most of the cryptocurrencies existing on the market in a totally decentralized way. There are no servers and the liquidity required for trading operations is provided by anonymous users who place part of their liquidity within the platform, in exchange for trading fees.
The LKSCOIN Liquidity Mining program
That’s the news linked to our announcements: we recently started a rich Liquidity Mining program.
What does it mean? In practice, in addition to the trading fees, you will earn an amount of LKSC distributed by a Smart Contract!
We talked about it in detail in this article:
What do you need to get started?
To take part in the Liquidity Mining program, you need LKSCs and USDTs.
- LKSC: the recommended method is via Swap Machine (in this article you will find more details). You have to send LKS X11 to an address, provide your Ethereum address and wait for the conversion.
- USDT: get them from an exchange like Binance, Eidoo, Bitfinex, etc. Remember to use USDT on Ethereum (Warning: ONLY ERC20, no BSC, no TRC20, no BEP20, no OMNI, but only ERC20 or you will lose your funds!)
Once you have the funds you intend to deposit (remember to add extra Ethereum fractions for Gas Fee), you are ready to become a Liquidity Provider.
We have prepared an official guide to support you in your Liquidity Mining business:
And remember that the official chat on Telegram is always at your disposal.
The first POOL is active from today Wednesday 21 July from 10.00 CET, the second will be open shortly, but we will talk about it in a future article!