Meshswap has announced partnership with IOST as its newest liquidity asset! IOST is an ultra-fast, scalable, and secure blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB).
Meshswap offers a high-quality yield farming service (AMM, staking, leveraging, IDO, etc), with a complete decentralized DAO governance system to open more opportunities for users to enjoy higher yields in a stable trading environment.
Meshswap is designed to support all kinds of blockchain-based assets, and the support of IOST will be an opportunity for Meshswap and the Polygon community to expand their scope in the decentralized blockchain market.
IOST is Led by a team of seasoned experts, their mission is to be the underlying architecture for online services that meet the security and scalability needs of a decentralized economy.
On March 25th, 2022, IOST integrated with Polygon Bridge, a trustless cross-chain transaction channel between Polygon and Ethereum, in order to support stable asset movement between IOST and Polygon mainnet. Upon integration, it creates a huge liquidity pipeline by connecting IOST users to the Polygon ecosystem through Meshswap DeFi protocol.
In Meshswap, MESH (governance token in Meshswap) reward is given to liquidity providers of major assets (ETH, MATIC, USDT, etc). And IOST will be one of the major assets in Meshswap just like ETH and USDT, which enables IOST holders to mine MESH inflation reward when pairing with other major assets. And three traits of the new platform; large stake with a small amount of liquidity provision, the high value of reward token (MESH) due to MESH being a fair launch case, and active transaction in the initial stage, all of which lead to a higher yield (APR)
And IOST community can also gain governance power in the new DEX protocol by mining MESH in the initial stage. Basically, MESH Stakers lock up their MESH for a certain period in exchange for MESH and liquidity pool voting rights (vMESH). Using vMESH, Stakers can vote on specific liquidity pools to allocate more MESH rewards and receive the distributed transaction fees incurred in the voted pool. Furthermore, as MESH stakers are one of the most active contributors to the Meshswap ecosystem, they earn additional token airdrop rewards such as Drops and Ecopot.
MESH Staker can directly decide which liquidity pool to allocate more MESH through votes.
With the above function, IOST holders can vote on IOST pair pools in order to increase a yield for the pair and get more profit with vMESH.
Polygon’s scalable, high-speed, high-throughput Layer-2 blockchain bolsters the native functions of the Ethereum blockchain with its use of multiple scaling solutions and features, such as ZK Rollups and Optimistic Rollups, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. By building on Polygon, Meshswap will take advantage of Polygon’s product suite to form part of the liquidity hub of the DeFi space. And this partnership opens up new opportunities for the IOST and MESH community to enjoy decentralized economic activities in the Polygon environment that is effective for mutual growth.
More about IOST :
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma. IOST has gained widespread recognition due to its innovative features and superior blockchain technology. It has also outpaced 37 top competitors, including Ethereum and EOS, multiple consecutive times in the ranking by China’s Ministry of Industry and Information Technology. IOST network has more than 624,000 unique wallets and is currently processing over 648 million transactions. The network hasn’t also had a single security incident since its mainnet launched in 2019. In April 2022, IOST announced the launch of Project Entroverse to become an EVM-compatible multi-chain. This move, coupled with the kickoff of IOSTSwap and IOSTSwap Farm, has become a highlight in IOST’s 2022 development roadmap.