- BlockSwap has successfully closed a $2.5 million funding round.
- The DeFi blockchain plans to use the funding to expand its services.
- BlockSwap also plans to distribute 250 million tokens before its mainnet launch.
Notably, the BlockSwap project aims to use staking to redistribute wealth while nurturing a foundational user base. In fact, NGC Founding Partner Roger Lim noted,
BlockSwap’s vision of enabling anyone with a smartphone to a high yield savings account will help empower the unbanked and make society more inclusive.
Also, BlockSwap intends to use the investment fund to expand and improve its operations. Further, BlockSwap hopes that by ensuring ongoing blockchain development, existing users will feel encouraged to explore the blockchain. Particularly, BlockSwap staking operators and PoS token holders can benefit from the blockchain’s stable DeFi yield farming opportunities.
BlockSwap has a sustainable yield offering which makes it a very attractive investment option. This is because DeFi blockchains reward ‘farmers’ with high annualized percentage gains in return for providing liquidity for various DeFi projects. Thus, yield farmers stand to reap high profits in return for facing even higher risks.
However, what makes BlockSwap stand out is the blockchain’s ability to provide sustained yields through its fixed-income products. In addition, BlockSwap will soon launch an incentivized CommunityNet to distribute 250 million tokens ahead of its BSN mainnet launch.