Nomiswap offers a decentralized exchange platform with the lowest fees and a binary recommendation system.
The demand for decentralized exchanges is increasing. With the ability to trade and exchange your favorite crypto, DEXs are growing in popularity. The absence of an intermediary combined with P2P transactions also ensures custody of funds.
Investors are also drawn to DEX for the sheer anonymity it offers. Users don’t have to worry about the hassle of KYC and other trading procedures. Most decentralized exchanges run on the Ethereum blockchain. But few are solely dedicated to the Binance Smart Chain.
Let’s take a closer look at Nomiswap. Nomiswap is a decentralized exchange platform powered by the cryptocurrency ecosystem Nominex. With key features, Nomiswap claims to stand out from its competitors.
Nomiswap at a glance
Nomiswap offers users a decentralized platform for trading and exchanging BEP-20 tokens. The platform also provides users with farming and staking features. It also offers significantly higher APR and APY rewards for a medium sized DEX.
The DEX started its services on December 30, 2021 and is audited by Certik. Currently, Nomiswap focuses exclusively on Binance smart chain tokens. However, the team plans to add support for multiple chains soon.
Nomiswap is fully powered and integrated with the centralized Nominex exchange. The Nominex exchange was launched in September 2019. The exchange is an official broker of Binance and offers users more than 1000 trading pairs with absolutely the same liquidity as Binance. Nomiswap also charges a 0.1% notional fee on token swaps.
The platform has a decent trading volume which can be viewed from here. Unlike other platforms, Nomiswap offers APR and APY rewards in NMX tokens. It also recently added new farming pools with a relatively high APR.
Compared to PancakeSwap, Nomiswap currently offers a higher APR for all popular pools. This can be an important success factor for the platform as it offers a higher return than large DEXs.
“Nominex is the first centralized cryptocurrency exchange 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.
In total, more than 40 people are currently working on Nominex.”
CEO, Pavel Shkitin
What is special about Nomiswap?
Nomiswap intends to set a benchmark for DEX platforms. Certain key features set Nomiswap apart from the competition.
Trading with a 0% fee is possible
Nomiswap provides users with useful farming and staking features. The feature allows users to receive trading fees as cashback and referral rewards. The amount is based solely on the amount you invest in cash or stake pools. The more you hold, the higher the trading fees you receive as cashback.
Integration with Nominex Exosystem
Nomiswap is powered by the Nominex exchange, which is a big plus for DEX. The integration is supported by a CeDeFi ecosystem that offers users rewards and benefits for simply using the platforms.
holder bonus
The keeper bonus is another key reward mechanism of the platform. Users holding NMX tokens will receive an incentive. The bonus is credited every day in the form of NMX tokens participating in farming.
All farmers receive this incentive in proportion to the money they invest in staking/farming. Depending on how long you continuously farm, an increasing coefficient is used to determine the farm duration bonus.
Useful farming/staking out
A user receives LP tokens to add liquidity to the pool. Users have access to a variety of farming options at Nomiswap Farms. Your LP tokens can be used to earn NMX tokens. The more value you invest in the liquidity and staking pools, the higher you advance in farming level. Farming level increases as you put more money into liquidity in “level up pools”.
Tiers vary from Starter, Partner, PRO, VIP, Elite or MAX. Your referral bonuses and trading fee cashback in Nomiswap increase as you level up.
“We worked intensively on the creation of the Nominex platform for more than two years. The project was developed with own funds. In September 2019 the Nominex platform was launched.”
CEO, Pavel Shkitin
How does the Nomiswap referral program work?
Nominex and Nomiswap users have a built-in referral program. The referral program is built in the form of a binary tree with unlimited referral levels. The referral rewards include four types of bonuses and aim to encourage people to share the information about Nomiswap with others.
The binary recommender system acts as a tree branch where new members are added on the left and right side of the tree. Each member has two slots on the first level, four slots on the second level, eight slots on the third level, and so on.
You will get two types of rewards including Team Farming and Team Trading reward. It enables multi-level referral systems where you get rewards from users who didn’t even sign up with your referral link.
Team rewards mainly have a left and right side where you are a weak team. The weak team is the one that has a comparatively lower overall score than the other.
All referral trading rewards and team farming fees are calculated based on total paid trading fees in Nominex and Nomiswap. This means that before a reward calculation, the system sums the trading fees from both platforms to reward the users.
Users receive up to 20% of the fees paid for their referral. Team Trading Rewards gives users up to 10% of the paid trading fees of your “weak team” in the binary referral tree.
Referral rewards are shared by activities, which include swap fees, farmed tokens, and tokens earned through launch pools. Nomiswap also has an unlimited referral level system. Referral farming rewards are up to 10% of the NMX farmed by direct referrals and up to 10% farmed by the weak team, called the team farming reward.
How can users earn cashback for trading fees?
Nomiswap introduced a cashback reward where traders receive transaction fees back. NMX, its native token, is used to credit 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 fee cashback). Nomiswap reimburses consumers for transaction costs in the form of NMX, unlike other exchange platforms.
Simply put, if you swap on Nomiswap and pay a 0.1 percent trading fee, you will be reimbursed up to 100 percent of the trading cost. It will be immediately refunded to your “Fee Return” balance in NMX tokens. Your farming level affects how much cashback you get.
In certain scenarios, a user is fully refunded 100% of trading fees in the form of NMX tokens. Cashback is wagered by allocating 10% from the daily distribution pool. Once the cashback pool is completely depleted after paying the cashback, the rest of the traders will not get any money 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 used to pay trading fees, which grant a 50% discount when paid in NMX when trading on Nominex.
Roadmap and vision ahead
The Nominex team has already deployed the first version of the Nomiswap DEX. It also started:
- The DEX includes utilitarian farming/staking.
- Farming level on all NMX pools.
- A referral program with a self-buildable structure.
- Exchange listing at Coingecko, CoinMarketCap, Dappradar and Defilama.
- Blockchain stats for all Nomiswap user activity
Plans for the future:
- Concentrated liquidity and limit order capabilities.
- Function to trade with other DEX via Nomiswap.
- Simple farming function on DEX.
- Support multiple chains.
Final Thoughts
Nomiswap is powered by its sister exchange, Nominex, which is itself an official Binance broker. In addition, Nomiswap has been audited by Certik to prove its reliability and security.
With the chance to earn cashback on your trading fees, yield farming with a high APR, unlimited referral rewards and a secure trading platform, Nomiswap could be the DEX to check out.
Follow Nomiswap on social media for news and regular updates:
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Disclaimer
All information contained on our website is published to the best of our knowledge and belief and for general information purposes only. Any actions taken by the reader based on the information contained on our website are entirely at your own risk.
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