Nomiswap Review: Dex With Free Swaps and the Highest Apr on the Market

By Sara K 7 July 2022 | 6:07 pm

Nomiswap Review: Dex With Free Swaps and the Highest Apr on the Market

The post Nomiswap Review: Dex With Free Swaps and the Highest Apr on the Market appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

As the popularity of cryptocurrencies continues to grow, there is a rising demand for different products that provide a competitive edge to the market. In recent years a lot of decentralized exchanges (DEXes) emerged and for many users, it became a more convenient way to swap and trade cryptocurrencies. The DEX discussed below strives to provide the best experience for its users, by offering all of the features that competitors can offer, but with a twist of excellence.

What is Nomiswap?

Nomiswap is the first decentralized exchange platform on the market with a binary referral system and the lowest platform transaction fees (0.1%). The exchange currently only supports BEP-20 tokens on the Binance Smart Chain network but multi chains are planned to be adopted in the future. It’s a relatively new exchange operating since January 2022. Nomiswap is backed by the widely recognized Nominex centralized exchange. Both these platforms are deeply integrated with each other. Even though the DEX is relatively young it can already display certain achievements:

Top-5 BSC DEX by TVL at Defillama
Top-40 among all DEXes by trade volume at Coinmarketcap
Provides higher APR on staking and farming on all pools than industry leader Pancakeswap.

Nomiswap DEX was audited by Certik, the same company that audited Pancakeswap.

How does it work?

Nomiswap is an automated market maker (AMM) that allows a user to exchange two tokens on the Binance Smart Chain network. The liquidity of the exchange comes from Liquidity Providers who place their funds in Liquidity Pools. In exchange, liquidity providers get LP tokens that can be staked to farm NMX tokens. When a user makes a token swap (trade) on the exchange, a trading fee of 0.1% will be charged, which is broken down in the following way:

0.03% is returned to liquidity providers in the form of a fee reward. This adds up with the daily distributed NMX and consolidates the farming APRs
0.07% is used for referral program rewards, trading fees cashback, NMX burning and Nomiswap profit.

Key features

Trading with 0% fee

The utilitarian farming/staking system allows users to receive 100% cashback on all trades in the form of NMX depending on the farming level. Farming level can be obtained by providing funds for liquidity in level up pools

When funds are placed in liquidity pools a corresponding farming level is applied:

Farming level	STARTER	PARTNER	PRO	VIP	ELITE	MAX
USD value	<100	100	300	1000	5000	10000

These levels not only affect the amount of the cashback, but also referral rewards.

Referral rewards

The referral rewards are divided into two categories. Farming rewards and Trading rewards.

Own referrals farming rewards – 5-10% from the amount of NMX farmed by the own referrals depending on the farming level.
Team farming rewards – 5-10% from the total amount of NMX farmed by the weak team depending on the farming level.

Thankfully tokens earned in launchpools also get counted when calculating farming rewards.

Own referrals trading rewards – 10-20% from the trading expenses of the own referrals depending on the farming level.
Team trading reward – 5-10% from the total trading expenses conducted by the weak team depending on the farming level.

All referral rewards from paid trading fees are calculated based on the total paid trading fees in Nominex and Nomiswap, thanks to the Unique Nominex/Nomiswap CeDeFi ecosystem. It means that before making a reward calculation, the system sums up the paid trading fees on both platforms. Rewards for farming activities however are only applicable to Nomiswap because farming works only on Nomiswap.

Referral program

Nomiswap referral program comprises of a binary affiliate tree, an organizational structure, where new members are placed into a system with a tree-like pattern. Each new member of the referral program has left and right branches also known as ‘teams’. The team with less value becomes the ‘weak’ team.

Each member has 2 places at their first level, 4 places at their second level, 8 places on their third level and so on. Every participant of the referral program has a sponsor – the affiliate participant, whose referral link was initially used to start operations on the platform.

The rewards are awarded for all activities of the own referrals as well as the whole referral team from all people under a user in the referral structure on any level below – this concept is called unlimited referral levels.

Farming

Currently Nomiswap provides 38 different pools for farming. The APRs differ depending on the pool. However it is safe to say that APR for every pool is higher than APR for the same pool on the industry leader platforms like Pancakeswap or Uniswap at the moment. Considering that APR is highly dependent on the number of participants in the pool, it should be noted that the APR may decrease as the number of users grows. At the moment of writing the top-3 highest paying pools are GST-USDC, NMX-USDC and NMX-BUSD with the average APR of 120%

As for stablecoin pools, Nomiswap also provides APRs better than industry leader Pancakeswap. The average APR on those pairs is around 7%

Holder bonus

Another key feature of Nomiswap is the holder bonus. The holder bonus is the reward awarded for the duration of farming. This bonus is automatically credited in the form of additional NMX tokens to each person who participates in personal farming. It is awarded to all farmers in proportion to their share of the pool, similar to the principle of NMX distribution in personal farming. The only difference is that when calculating the holder bonus, an increasing coefficient is used, depending on the duration of continuous farming.

Duration	>7 days	>15 days	>30 days	>60 days	>90 days	>180 days	>360 days
Coefficient	+20%	+50%	+100%	+200%	+300%	+500%	+900%

What’s important is that if any manipulation is done with the initial staking deposit, then the accumulated amount of days will be altered. In case of unstaking (even partial), the accumulated amount of days will be reset to zero.

If the addition of funds takes place, then the number of accumulated days will be recalculated according to a certain formula. This feature incentivizes users to hold NMX tokens which makes them more resistant to market fluctuations.

NMX token

NMX is the utility token of Nominex and Nomiswap. It is a BEP-20 token with a total supply of 200,000,000.

The NMX token can be utilized to pay trading fees in NMX with a 50% discount while trading on Nominex CEX.

The NMX token can also be put into staking on Nomiswap DEX at 111% APR at the time of writing.

Pros and Cons

Pros

Potentially free trading
Highest APR on the market
Referral program with unlimited levels
Holder bonus

Cons

Only BSC supported
Limited tokens supported
Limited farming pairs

Conclusion

Nomiswap is a very useful platform for people who use decentralized exchanges. The review above certifies that the bonuses it provides surpass industry leaders such as Uniswap and Pancakeswap by far. While the platform is still relatively young and gaining popularity, the APR percentages will maintain high levels, and trading fees will remain as low as possible.

The unlimited referral program is a unique feature that can be particularly appealing for opinion leaders, and for those who are able to quickly grow their affiliate structure. Nomiswap is a perfect choice for trading the most popular BSC cryptocurrencies and placing funds into farming and staking for a continuous passive income.

How to start using Nomiswap

Step 1. Connect your wallet.

-Go to nomiswap.io and connect your wallet. Nomiswap currently supports the following wallets

There is an option to connect the wallet in the top right corner of the homepage. Once you have accepted the terms and conditions and connected the wallet, your BSC address will be displayed at the top right corner of the page. By clicking on it, you can always check your transaction history, copy the address or disconnect the wallet.

Step 2. Start trading your tokens instantly

-Go to https://nomiswap.io/swap

-Select the token pair you wish to trade