Decentralized exchanges are appearimg on Cardano regularly, the ecosystem is getting bigger and getting some traction. Wingriders is the new DEX in the ecosystem and it's promising many advantages.
After the launch of Muesliswap, Sundaeswap and Minswap comes the launch of a new DEX, Wingriders. The core features of this new DEX are almost the same as of the others but comes with a new adition that promises to change evrything.
Wingriders lets its users swap, provide liquidity and farm on a number of different assets. One of the good things that this DEX brings to Cardano is madUSDT and madUSDT. These two tokens are USDT and USDC minted on the Cardano blockchain with its value pegged to USD. Users can provide liquidity and farm with these tokens.
The biggest change Wingriders brings is another form of yielding. A normal DEX lets its users provide liquidity and add the liquidity tokens to a farm to earn from fees and also from farming these LP tokens. Wingriders brings another layer of earning to the table, users are able to provide liquidity, farming and staking their LP on Cardano pools. This brings a way to earn 3 times with the same investment, fees, farms and staking. This is only possible because of the way Cardano handles the staking system. Impermanent loss is a thing with providing liquidity and although adding the LP tokens to a farm is a great way to reduce this loss, having another layer like staking makes everything even better. Even if you are losing on your position farming and staking can make you break even anyway or even make you profit from your liquidity providing.
This was always talked about when discussing a decentralized exchange on Cardano but Wingriders were the ones that made this happen. Although you still have risks, the risks are less than normal farming.
It looks like with every DEX release another feature comes to birth on Cardano. The ecosystem is doing well and after some problems everything seems to be coming together. Cardano now stands with over 200 million USD in TVL and the spectations is to grow even further.
If you want to take a look at the project go to wingriders.com and explore what it seems to be another great DEX on Cardano.
Best Regards,
Cryptopeach