Since 2020, many new blockchains have appeared on the market to make the system more secure, complex, and impossible to change, hack, or cheat. The Binance Smart Chain (BSC) launched in September, and its blockchain was developed to enable quick and decentralized exchanges.
The system is concentrating on smart contract programmability to address the blockchain community’s scalability challenges.
Many platforms use the Binance Smart Chain at their core, which is how CaramelSwap emerged. It features a third-generation yield farming mechanism that allows everlasting price increases with sustainable and profitable yield farming.
What is CaramelSwap?
CaramelSwap is the most comprehensive yield farming and AMM decentralized exchange on the Binance Smart Chain. The platform provides original and innovative features that will enable you to earn and win easily.
Being a network that values the community, it has an extremely active development team ready to provide the most outstanding assistance and community members that are always happy to help others. Even those new to DeFi can profit significantly from investments there.
It offers various anti-inflationary methods, starting with an aggressive and multifaceted token-burning deflation program and features that provide outstanding farming profitability and token usability. The token type for Caramel Swap is BEP20, and the symbol is MEL.
They have a unique feature, the MEL Requirement, in which you must hold MEL (their native token) for being able to enter their farms and pools, which have some of the greatest APR on the internet. These tokens will not be spent. While farming, you are free to do whatever you want with them. To harvest, stake, and unstake, you must have it in your wallet.
The launch of HoneyComb
The CaramelSwap platform does not stop here with its features and services; they have already included something that will pique your interest and make you want to participate. The platform’s new feature is now in place.
HoneyComb (their Syrup system) is a pool that allows its users to earn a different kind of token as a reward rather than the native one. It allows the MEL’s supply in circulation to decrease and creates an environment in which its value is highly likely to rise.
It has a lot of potentials and will lead to significant progress in the development of their platform. Its goal is to provide a profitable alternative to the investors other than straight selling their harvested MEL, to control inflation.
A poll to chose the reward on the next HoneyComb pool is being made on their Telegram groups, with options that include ETH, ADA, REEF, and many other cryptocurrencies.
What distinguishes their platform?
CaramelSwap has not only developed and strived to build the ideal environment for their users, but their entire ecosystem offers a multitude of outstanding features specifically designed for their members. Let’s take a closer look at what they have to offer and what distinguishing features they have:
- Automatic liquidity: trades on Exchange CaramelSwap will automatically add 0.3% transfer tax to the MEL-BNB liquidity pool via the contract. The liquidity will be locked and inaccessible.
- Deflationary and automated burning: each transfer of Caramel will be taxed at a rate of 2%.
- Harvest lockup: this is a unique reward lockup system that limits harvesting frequency and is designed to prevent farming arbitrage bots from repeatedly harvesting and dumping.
- Anti whale: designed to deny transfers larger than 3% of the total supply. As the total supply grows, this ratio will be reduced.
- Buyback and burning: a 5% deposit fee will be collected during staking, with 80% of the deposit cost utilized to buy back and burn Caramel. A development and emergency fund will be established with 20% of the deposit fee.
- Transfer tax burning mechanism: every transaction completed on the Caramel platform will be subject to a 2% transfer tax. The transaction will fail only if the slippage is less than 2%. While purchasing Caramel on PancakeSwap/CaramelSwap or similar AMM utilizes a 1.5%+ slippage.
- Referral program: earn 3% commission every time your friends make a harvest on CaraMEL Swap.
- There is no Mmgrator code: the well-known Rugpull code has been permanently erased from the MasterChef contract.
- Timelock: since the launch, they have included a timelock.
In terms of tokenomics, there is a limitless max supply, and individuals will be rewarded per block, beginning with 9 MEL and with 259,200 MEL each day. Furthermore, they may make adjustments to reflect reality and maintain a steady increase in MEL price.
It’s simple – take advantage of CaramelSwap. They will soon release a dedicated tab on the platform, where you will be able to trade and purchase NFT cards. The NFT cards you will receive will provide you with various multipliers to help you earn more rewards.
A percentage of the amount you pay for the cards will be allocated to the designated pool. You will receive rewards by mining in the pools of your choice.
They also have many new features, such as the debut of a debit card (through promising cooperation with ZCore Finance), updates on the MEL requirement, and many more.
Are you ready to make a change? Be prepared for all features that CaramelSwap has planned for you. Join the CaramelSwap Global Comunity, and receive any help that you might need to use their services.