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

PRNewswire

March 17, 2022

Successful giveaway campaign sends FairySwap off to the races!

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.

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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. Liquidity mining is key to FairySwap’s future governance.

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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.”

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