Update on TotemFi’s DEX liquidity
To further reduce barriers to access for our TOTM token, TotemFi will later today be adding additional liquidity to PancakeSwap.
- Lower fees: Upon TotemFI’s launch in April 2021, 75% of TOTM liquidity was locked in Uniswap, and although older and more established — it is also burdened by longstanding issues with network congestion, leading to high gas fees for users.
- PancakeSwap does not suffer from these issues — their fees are much more affordable and do not have to be paid in Ether. Allowing for more transactions and higher profit margins for traders.
- Our dApp is built on the BSC network, so the move allows for better access and a more enjoyable user experience.
- The community: community has always been at the heart of the TotemFi project, so when a number of our core community raised the issue of high Eth gas fees to us, we listened.
We will be adding Liquidity today, 8th February, 2022. We will be withdrawing all liquidity from Uniswap and transferring it to Pancakeswap. This process shouldn’t take long, however for a brief period users may notice lower than usual levels of liquidity across DEXs — don’t be alarmed, this is because we’re making the move over to BSC from Eth. We’ll update you as soon as this process has been completed.
We hope you found this useful!
Please do get in touch with any thoughts, feedback or questions, as we will always be looking to work with the community to better the project.
Thanks for reading,