Swappi is the first DEX on Conflux eSpace. If you are new to Conflux like me stands out as the only regulatory compliant, public, permissionless blockchain network in China, and Conflux eSpace is its ethereum (EVM) compatible smart contract execution environment.
Here you can see the farm earning rates on Swappi right now. The APR range shown shows the how much you can boost your earning by staking their PPI token.
I found the pools with stablecoins and WBTC and ETH particularly interesting, not bad rewards, considering the PPI you get can be traded immediately or staked.
Their APRs were much higher a couple of weeks ago, and you can see their total liquidity hit a peak and quickly declined.
The trading value of PPI dropped, the rumors on discord are that some private investors dumped quite a bit.
Their mascot looked like a pear to me but apparently is some kind of avocado, with the pit that looks like a cats head, cute, but also a bit strange. In any case, it's friendly looking, almost child friendly. I bet my kids would like it.
Future features that sound nice include Swappi voting and Governance, the Playground: Price Prediction and Lottery, IFOs, IDOs, NFT Marketplace, Limit Orders, and Perpetuals Trading.
As always DYOR of course, this is not financial advice.
They also have a boost simulator where you can check how much PPI you would need to stake to get a nice boost in your yields.
Conflux
So I thought I wanted to look a little more into what Conflux is, I listened to a few interviews with the founders and snooped around the internet. I was pretty surprised about what I found out, especially because I previously thought China had banned all Crypto.
Conflux has received funding from private investors in China, and also grants from the Chinese government. They even launched a government funded Conflux Research Institute in Shangai.
The founder president of the Research Institute is Dr Fan Long, who holds a Ph.D in Computer Science from MIT. He is also assistant Professor at the University of Toronto.
YuanJie is a cofounder of Conflux too, and I thought it sort of funny to read that his hobbies include "degen, sci-fi, and gaming". More relevant maybe, Yuanjie worked at Huatai Private Fund of Funds, UNC Endowment Management Company and in Wall Street.
About Conflux itself it is fast, scalable, and solidity compatible, with zero congestion and low fees.
I was surprised to learn it is actually a Proof of Work chain, which technically means it is more decentralized and secure than many other options out there, but is built with a Tree-Graph consensus mechanism that allows a much faster speed than other Proof of Work blockchains like Bitcoin or Ethereum, up to 3000–6000 TPS, by confirming many blocks in parallel at the same time.
They also have companies like McDonald’s, that have launched their NFTs on Conflux to the Chinese market. It's possible for users to purchase and trade NFTs using Chinese fiat, and Conflux issues the only regulatory compliant Chinese fiat-stable coin.
They are working to push crypto-adoption in Africa, have a grant system for artists and developers, including game developers, and they are encouraging established game developers to enter into Conflux as well, and they are collaborating with projects like Binance, Kucoin, Multichain, Celer, and more.
You can read all about Swappi in their official documentation here, and Conflux on Medium or at their website.