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NewsBTC 2021-10-04 18:36:43

What is BBP on the example of Nominex

After reading this article, you will find out how you can trade on the world’s most popular Binance exchange without any commissions at all and at the same time have additional passive income. This is exclusive but rather intricate information, so please be patient and let’s dive deeper. The platform we will talk about is Nominex. Previously, it was just a centralized exchange, but now it is a whole ecosystem that has already brought several unique products to the market, including ones in the currently popular DeFi direction. What is Farming in a nutshell For an average person, DeFi farming is quite a difficult notion to understand. But in this article, we will crack this nut effortlessly. There are decentralized exchanges like Uniswap or PancakeSwap. They work entirely on smart contracts. And to change one coin for another in these exchanges, you need the smart contract to store a sufficient number of both coins. This storage of two coins for a trading pair in a smart contract is called a liquidity pool. And the more coins are injected into this liquidity pool, the more favorable prices you can sell or buy coins through this liquidity pool. In fact, a pool of liquidity in decentralized exchanges is a DOM (Depth Of Market) in centralized exchanges. Farming Steps Let’s look at the steps using the NMX-USDT liquidity pool as an example. First off, equal proportions of NMX and USDT coins are sent to the liquidity pool...

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What is BBP on the example of Nominex

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