Nomiswap provides a decentralized exchange platform with the lowest fees and a binary referral system.
Decentralized exchanges have been rising in demand. With the ability to trade and swap to your favorite crypto, DEX’s are gaining popularity. The absence of an intermediary combined with P2P transactions also ensures custody of funds.
Investors are also attracted to DEX for the sheer anonymity that it provides. Users needn’t go through the hassle of KYC and other procedures to trade. Most of the decentralized exchanges run on the Ethereum blockchain. But only a few are purely dedicated to Binance smart chain.
Let us take a deeper look at Nomiswap. Nomiswap is a decentralized exchange platform backed by the cryptocurrency ecosystem Nominex. With key features, Nomiswap is claiming to stand apart from its competitors.
Nomiswap in a glance
Nomiswap provides users with a decentralized platform for trading and swapping BEP-20 tokens. The platform also provides users with farming and staking features. It also offers considerably higher APR and APY rewards for a middle-size DEX.
The DEX began its services on December 30, 2021, and is audited by Certik. At present, Nomiswap is entirely focusing on Binance Smart chain tokens. But the team is planning to deploy support to multi chains shortly.
Nomiswap is entirely backed and integrated with the Nominex centralized exchange. The Nominex exchange was launched in September 2019. The exchange is an official broker of Binance and provides 1000+ trading pairs for the users with absolutely the same liquidity as Binance does. Nomiswap also charges a nominal fee of 0.1% on tokens swap.
The platform has a reasonable trading volume which can be viewed from here. Unlike other platforms, nomiswap provides APR and APY rewards in NMX tokens. It has also added new farming pools with a reasonably high APR recently.
In comparison with PancakeSwap, Nomiswap provides a higher APR for all common pools at this moment. This can be a major go factor for the platform as it offers a higher return than major DEXes.
“Nomiswap is the first decentralized platform with a binary affiliate program, a native NMX exchange token issuance and distribution model based on liquidity pools on decentralized exchanges, and a DeFi farming mechanism.
CEO, Pavel Shkitin
What is so special about Nomiswap?
Nomiswap is envisioning to set a benchmark for DEX platforms. Certain key features make Nomiswap stand out from the competitors.
Trading with a 0% fee is possible
Nomiswap provides users with utilitarian farming and staking features. The feature allows users to receive trading fees as cashback and referral rewards. The amount is purely based on the amount you put in liquidity or staking pools. The more you hold, the higher the trading fees you receive as cashback.
Integration with Nominex exosystem
Nomiswap is backed by the Nominex exchange, which is a big plus for the DEX. The integration is powered by a CeDeFi ecosystem that provides users rewards and benefits for just using the platforms.
Holder bonus
Holder bonus is another important reward mechanism of the platform. Users who hold NMX tokens will be incentivized. The bonus will be credited every day in the form of NMX tokens that participate in farming.
All farmers receive this incentive in proportion to the money they put into staking/farming. Depending on how long you continuously farm, a rising coefficient is employed to determine the bonus for the duration of farming.
Utilitarian farming/staking
A user receives LP tokens for adding liquidity to the pool. Users have access to a variety of farming options at Nomiswap Farms. Your LP tokens can be staked in order to obtain NMX tokens. The more value you put in the liquidity and staking pools, the more you climb up the farming level. Farming level increases when you put more funds into liquidity in “level up pools.”
The levels vary from Starter, Partner, PRO, VIP, Elite, or MAX. Your referral bonuses and cashback on trading fees in Nomiswap increase as your level rises.
“Intensive work was carried out to create the Nomiswap platform over two years. The project developed with its own money. In September 2019, the Nomiswap platform was launched.”
CEO, Pavel Shkitin
How does Nomiswap’s referral program work?
Users of Nominex and Nomiswap have an integrated referral program. The referral program is set up in the form of a binary tree with unlimited referral levels. The referral rewards include four types of bonuses and aim at incentivizing people to share the information about nomiswap with others.
The binary referral system acts as a tree branch with new members added to the left and right sides of the tree. Each member has two spots on the first level, four spots on the second level, eight spots on the third level, and so on.
You receive two types of rewards that include Team farming and Team Trading reward. It allows multiple-level referral systems where you receive rewards from users who didn’t even sign up with your ref link.
Team rewards mainly have a left and right where one is a weak team. The weak team is the one that has a comparatively less total value than the other.
All referral trading and team farming fee rewards are calculated based on the total paid trading fees in Nominex and Nomiswap. It means that before making a reward calculation, the system sums up the trading fees from both platforms to reward the users.
Users get up to 20% of their referral’s paid fees. In team trading rewards, users get up to 10% of paid trading fees of your “weak team” in the binary referral structure.
Referral rewards are shared from activities that include swap fees, farmed tokens, and tokens earned through launchpools. Nomiswap also has an unlimited referral level system. Referral farming rewards are up to 10% of NMX farmed by direct referrals and up to 10% farmed by the weak team which is called the Team Farming reward.
How can users earn trading fees cashback?
Nomiswap introduced a cashback reward of giving back the traders with transaction fees. NMX, its native token, is used to reward the transaction fees to the user.
Users can earn 100% of their trading fees as cashback. The practice of using transaction fees to reward the community is known as (Trading Fees Cashback). Nomiswap refunds the transaction costs to the consumers in the form of NMX, unlike other exchange platforms.
Simply put, when you perform a swap on Nomiswap and pay a 0.1 percent trading charge, up to 100 percent of the trading cost will be reimbursed. It will be refunded right away in NMX tokens to your “Fee Return” balance. Your farming level affects how much cashback you receive.
In specific scenarios, a user will be fully reimbursed with 100% of the trading fees in the form of NMX tokens. The cashback is put to work by allocating 10% from the daily distribution pool. Once the cashback pool has been completely drained after paying the cashback, the rest of the traders won’t get cash back for the rest of the day.
NMX token
NMX is the utility token of Nominex and Nomiswap. It is a BEP-20 token with a total supply of 200,000,000.
The NMX token can be utilized to pay trading fees, which will provide a discount of 50% when paid in NMX while trading on nominex.
Roadmap and vision ahead
The Nominex team has already deployed the first version of the Nomiswap DEX. It also launched:
- The DEX includes Utilitarian farming/staking.
- Farming level on all NMX pools.
- A referral program with a self-buildable structure.
- Listing the exchange on CoinGecko, CoinMarketCap, DappRadar, and DeFiLlama.
- Blockchain statistics for all Nomiswap user’s activities
Plans for the road ahead:
- Concentrated liquidity and limit order features.
- Feature to trade on other DEX via Nomiswap.
- Simple farming feature on DEX.
- Multi-chain support.
Final thoughts
Nomiswap is backed by its sister exchange Nominex, which itself is an official broker of Binance. Additionally, Nomiswap is Certik audited to prove its reliability and safety.
With a chance to earn cash back on your trading fees, yield farming with high APR, unlimited referral rewards, safe and secure trading platform, Nomiswap might be the DEX that you should check out.
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