CoinSwap Space, a decentralized exchange (DEX) built on the Binance Smart Chain, has announced the opening of a staking pool with rewards in Cardano ($ADA).
The new staking option will allow participants to stake the protocol’s native $CSS token and earn either $ADA, $ETH, or $LINK. With the launch of this new staking pool rewards program, CoinSwap Space now extends its decentralized finance features to more retail investors looking to grow their portfolio.
CoinSwap Space has also announced the launch of a new yield farming pair on their decentralized exchange, with USDC/BUSD now available for users on their decentralized exchange. The firm has also disclosed that it has signed up with CoinMarketCap for an airdrop event coming soon.
CoinSwap Space is one of a select few protocols that have been certified pre-launch by blockchain security auditing firm Certik, with its smart contracts undergoing industry-leading verification tests. CoinSwap Space’s $CSS is also now listed on Math Wallet and Klever Wallet.
This development is significant because USDC, or USD Coin is a major digital stablecoin pegged to the U.S. dollar running on leading blockchains such as Ethereum, Stellar, Algorand, Hedera Hashgraph, and Solana. Binance’s BUSD, on the other hand, is a fiat-backed stablecoin designed as a low-volatility asset for crypto investors looking to close their portfolio from within the crypto space itself.
Despite recent attention from regulatory bodies on Binance’s compliance status, the firm remains to be the world’s largest crypto exchange. To date, Binance has several extensive and important services for the crypto community such as CoinMarketCap, the world’s most-referenced price-tracking website for crypto assets, and Trust Wallet, a highly secure crypto wallet which serves as Binance’s official crypto wallet.
CoinSwap Space’s build on the Binance Smart Chain provides it with extensive interoperability and cross-chain liquidity with projects on the decentralized finance space built for compatibility with the BSC protocol.
As a small-cap token, CoinSwap Space’s $CSS has been greatly affected by the recent volatility in the crypto market. As such the move to offering $LINK (Chainlink), $ETH (Ethereum), and now $ADA (Cardano) is a strategic decision to bolster its positions.