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.

Why PancakeSwap?

  1. 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.
  2. 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.
  3. Our dApp is built on the BSC network, so the move allows for better access and a more enjoyable user experience.
  4. 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,

Team Totem

--

--

--

Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Is Blockchain Identity Management A Key to Self-Sovereign Identity?

May Updates: Native Eth2 integration and more

Identity verification by the community; self-sovereign KYC

Samsung Next’s Patrick Chang takes the lead on Theta Labs investment

Why incorporate blockchain?

DeFi Growth: Bonded Finance Joins The Elrond Ecosystem

Satinder’s notes on the PIRATE chain

Wyre Brings Convenient Fiat-Crypto On/Off Ramps to Developers Building on Flow

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
TotemFi

TotemFi

Stake. Predict. Grow. // Staking-based prediction markets for the crypto community.

More from Medium

Introducing Button Swap

Standard Protocol AMA recap

AMA Recap — Rainbow Protocol

PRISM Launch Announcement