DeFi Yield Farming

SwapShip: a farming platform within the Read This Contract (RTC) ecosystem

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Swapship is an attack-proof farming platform with several tokens, including NFTs. Although it has other applications, RTC is the core protocol of the Swapship ecosystem. Currently, the focus is to maintain its farming and staking functions. However, there is an advanced plan to introduce a decentralized cryptocurrency exchange (DEX), which will provide liquidity to all the other projects.

A vital point to note is that Swapship also deals with tokens meant for decentralized on-chain experimental projects, which are functional in other sub-systems. Despite being a fork of Sushi, it has better features. For example, 

  • It has no magic tokens to damp since it does not have a development levy.
  • Only the CaptainCook contract mints token.
  • Unicrypt locks up the SWSH-ETH Uniswap liquidity pool.

Sub-platforms

The reliability and efficiency of Swapship depend on the performance of the following sub-platforms.

Trusty Helm: Users view their staked tokens, rewards, and total staked value. Also, they access all necessary information relating to their activities on the RTC platform.

Hoarding cabin: This is the site where users add liquidity to farm SWSH and the RTC. They do this through Uniswap or SushiSwap.

Trading Dock: On this platform, users swap tokens and add liquidity through DEXs. 

Captain’s Log: This is a learning center for all Swapship users and followers. They get all the information they require to understand how the system functions.

Tokens

There are different tokens in play on the Swapship platform. However, these tokens perform different functions, all tailored to enhance staking, farming, and liquidity provision.

RTC: This is the main token for the platform, although it performs most of its intended tasks when paired with other coins. Notably, it is the key reward token of the Swapship platform, distributed through airdrops.

Swapship also uses the RTC token to reward farmers and liquidity providers. For instance, the platform distributes 10% of any new TRC releases to its current holders according to what they already have. As a fact, the RTC has a hard cap of 33 000 tokens.

Liquid Lottery: The Liquid Lottery (LIQLO) powers the Swapship lottery system. For example, to get a ticket, a user adds liquidity to the RTC-ETH pool on Uniswap. Every added Eth counts as a lottery ticket.

 When the RTC-ETH pool liquidity is above 32 per day, the platform holds a lottery draw, where a user receives 1ETH, 1 RTC, and 1 LIQLO. Essentially, the platform raises the daily prize from selling RTC reserves.

SPECTRE: This is a deflationary token as its supply decreases with time. Consequentially, the reduction in its supply leads to its appreciation. Its initial total supply was 56 000, with 5 000 accounting for airdrop and 1 000 as a reserve.

Metal NFTs

There are various non-fungible tokens (NFTs) on the platform, which have different functions. Holders of the NFTs can redeem them for commemorative coins such as RTC metal, SPECTRE metal, LIQLO Metal, and SWSH Metal. Swapship mints 100 tokens per type into NFTs. Fortunately, the metals coins have utility value in the ecosystem and its sub-ecosystems.

Staking

Users can stake some RTC tokens and get SWSH in return. They can choose any of the following super pools:

  • RTC-ETH Pool: 3x multiplier for farming SWSH
  • SWSH-ETH Pool: 5x multiplier for farming SWSH
  • LIQLO-ETH Pool: 5x multiplier for farming SWSH
  • LIQLO-RTC Pool: 10x multiplier for farming SWSH

Community

SwapShip has several platforms to interact with its members, leading to innovations. More significantly, the community provides essential feedback resulting in better products and services. Everyone is free to join these social media platforms.

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