December 17, 2020 at 7 am EST — DeFi projects KingSwap and RioDeFi today announced a partnership to boost rewards for users, aimed at increasing participation in staking and farming pools. Through this partnership , KingSwap will list RioDeFi’s RFUEL tokens on its decentralized exchange (DEX). RioDeFi will also provide a farming pool on KingSwap for all users who want to generate yield from RFUEL.
KingSwap will reward both traders and liquidity providers for using the DEX. Any user who provides liquidity for the RFUEL-USDT pair on KingSwap’s DEX will be given RFUEL-USDT KLP (King Liquidity Provider) tokens. KingSwap users who trade in the RFUEL-USDT pool will be awarded with KST (KingSwap Slippage Tokens) for every trade executed. Both KLP tokens and KST tokens can be staked in the RFUEL farming pool. All APY estimates are based on the number of users staking in each farming pool, as well as the relative price of RFUEL to USDT.
“KingSwap and RioDeFi share a mission to drive DeFi adoption through easy-to-use, high-reward features,” said Malcolm Tan, Chief Advisor at KingSwap. “The opportunity to collaborate gives both our users new perks, while boosting DEX activity on the KingSwap platform.”
KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions. An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards. Last month, KingSwap achieved $4 million USD in transaction volume in its first three days on Uniswap. KingSwap’s DEX features are available directly through its website https://www.kingswap.exchange.
KingSwap was founded by a team of experienced leaders in banking, finance, and crypto, including Dr. Anish Mohammed, who has advised and worked for companies including HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol; Dunstan Teo, Chief Architect of the Fido Protocol and President of Sanctum Pte Ltd.; and Ho Chin Shin, who previously worked as a director at Standard Chartered Bank; Nomura, Japan’s largest investment bank; and the Bank of Singapore.
KingSwap’s advisors include Venture Capitalist Dr. Giampaolo Parigi (PhD); Professor Alex Nascimento (MBA), Faculty and Co-Founder, Blockchain at UCLA; Michael Terpin, Founder and CEO of Transform Group and Co-Founder of BitAngels; Lionel Iruk, Esq.(J.D), Dr. Robert Choi (PhD), and Frank D.(MBA).