The 4-Step Adventure By Columbus Token (Part 2: Discover)
The Columbus Token Project was designed to be an adventure in the world of cryptocurrency, a rewarding and interesting one. This adventure is formed of four stages, each having its own trail and characteristics: Search, Discover, Own, and Hold. In today’s article, we will address our second station: Discover!
Get your bags ready, it’s a trip of a lifetime!
Discover
After your exciting trip of search for a crypto gem, asking all the right questions about the use case, the market cap, the roadmap, and the key features of the cryptocurrency project then getting your satisfying answers… You finally landed in Columbus’s crypto world. Congratulations!
Now it’s time for you to discover this amazing world and it’s little details that merge together to create a crypto project that is worth of both your time and investment.
Columbus’s Voyager Dex
Voyager Dex is a Decentralized Exchange Protocol and DEX Aggregation Platform running on the Automated Market Maker (AMM) model, for the Binance Smart Chain (BSC) blockchain.
You will now read about:
1- What are Automated Market MAkers (AMM)?
2- About Liquidity Pools and Liquidity Providers
3- Swapping your tokens on Voyager Dex
4- Liquidity Mining on Voyager Dex
5- Voyager Dex’s Sailor Farms
6- Voyager Dex’s Trotter’s Market
7- The Columbus Wallet
What Are Automated Market Makers?
Automated market makers (AMMs) allow digital assets to be traded without permission and automatically by using liquidity pools instead of a traditional market of buyers and sellers. On a traditional exchange platform, buyers and sellers offer up different prices for an asset. When other users find a listed price to be acceptable, they execute a trade and that price becomes the asset’s market price. Stocks, gold, real estate, and most other assets rely on this traditional market structure for trading. However, AMMs have a different approach to trading assets.
AMMs are a financial tool unique to Ethereum and decentralized finance (DeFi). This new technology is decentralized, always available for trading, and does not rely on the traditional interaction between buyers and sellers. This new method of exchanging assets embodies the ideals of Ethereum, crypto, and blockchain technology in general: no one entity controls the system, and anyone can build new solutions and participate.
About Liquidity Pools and Liquidity Providers
Liquidity refers to how easily one asset can be converted into another asset, often a fiat currency, without affecting its market price. Before AMMs came into play, liquidity was a challenge for decentralized exchanges (DEXs). As a new technology with a complicated interface, the number of buyers and sellers was small, which meant it was difficult to find enough people willing to trade on a regular basis. AMMs fix this problem of limited liquidity by creating liquidity pools and offering liquidity providers the incentive to supply these pools with assets. The more assets in a pool and the more liquidity the pool has, the easier trading becomes on decentralized exchanges.
On AMM platforms, instead of trading between buyers and sellers, users trade against a pool of tokens — a liquidity pool. At its core, a liquidity pool is a shared pot of tokens. Users supply liquidity pools with tokens and the price of the tokens in the pool is determined by a mathematical formula. By tweaking the formula, liquidity pools can be optimized for different purposes.
Anyone with an internet connection and in possession of tokens can become a liquidity provider by supplying tokens to an AMM’s liquidity pool. Liquidity providers normally earn a fee for providing tokens to the pool. This fee is paid by traders who interact with the liquidity pool. Recently, liquidity providers have also been able to earn yield in the form of project tokens through what is known as “yield farming.”
Swapping your tokens on Voyager DEX
The Voyager DexEX platform offers a convenient and secure crypto-to-crypto gateway. Essentially, what Voyager’s swapping services bring to the table is simplicity, speed, affordability and security.
It is worth mentioning that Voyager’s services eliminate slippage by offering fixed swap rates that are held from the start of the transaction to its finalization.
Users can swap their BEP-20 standard crypto tokens on the Voyager DEX by connecting their web3 wallets with the Binance Smart Chain network enabled. The platform works and similar to familiar DEXs such as PancakeSwap and Uniswap.
Liquidity Mining on Voyager DEX
Liquidity mining, also called yield farming, is a network participation strategy that allows you to provide liquidity (capital) to the liquidity pools on Voyager DEX. In return, you receive a reward from the specific liquidity pool to which you provided liquidity.
Users of Voyager DEX can add liquidity to existing token pairs in the liquidity pool and earn passive income. They can also add their own tokens and create token pairs and list their own crypto tokens for their projects. Each liquidity provider will be given Voyager LPs when they stake their tokens. They can redeem these tokens whenever they want by unstaking.
Voyager Dex’s Sailor Farms
Sailor Farms further incentivizes users for providing liquidity to Columbus Token (CBS) pairs, as well as other token pairs. Users can stake their Pancakeswap LP tokens on the Sailor Farms and earn a high-APR yield.
Voyager Dex’s Trotter’s Market (NFT Marketplace)
Every platform in the Columbus Ecosystem is built for the people. But the problem with a completely open marketplace is that it could compromise the quality if the NFTs hosted for Sale or Auction
To solve this, we have included a voting system where CBS holders can not only vote on different aspects of the platform but also vote on each NFT listing. The votes and reviews on the listing are caught by the algorithm, similar to how social media platforms measure user engagement and promote these NFTs to the homepage.
We believe that NFTs on a mainstream platform should not be limited to just a few big players in the business. Whether you are a professional artist or a budding artist looking to earn through their artworks, Trotter’s Market lets you sell and auction your NFTs seamlessly.
This whole process is governed by smart contracts meaning that it is completely decentralized. Once a user buys an NFT for the artist’s listing page, the amount automatically gets added to the artist’s account balance and they can claim their rewards directly to their web3 wallet.
Users can sell NFT collections such as trading cards, collectibles, and comic books/graphic novels on the platform.
This feature is especially useful for comic artists looking to publish their books or comic strips and earn with their work.
The Columbus Wallet
The Columbus Wallet is a multi-chain cryptocurrency wallet that lets you hold and transfer cryptocurrencies from different blockchains.
Additionally, the wallet is a single access point for users to access various Decentralized Applications (DeFi), and crypto-based financial functions without having to rely on multiple applications.
The Columbus wallet lets users access a variety of DeFi services, including that of the Voyager DEX platform.
