JediSwap is a fully permissionless and composable decentralised exchange (DEX) on Starknet.
This means anyone can create a liquidity pool or add liquidity to an existing pool on JediSwap and trade all tokens on Starknet.
And also, the protocol can be easily integrated with other dapps on the StarkNet network.
For example, when you swap on the Argent wallet, you’re trading on JediSwap, thanks to the integration between the two projects.
So, as the leading project on Starknet, you mustn’t fade JediSwap for any reason.
In this article, we’ll discuss the top 4 reasons why you should start exploring JediSwap today.
1. JediSwap is the leading protocol on Starknet
Over 50% of the total value locked on Starknet is on JediSwap. Making it the Suiswap or PancakeSwap of the network.
So, being the biggest DEX and where most of the money on Starknet is concentrated, you must pay attention to JediSwap.
As of today, June 30 2023, there’s almost $8 million in TVL, $50 million in accumulated trading volume, and 100, 000+ community members on JediSwap.
For a chain that’s still in Alpha, these are impressive numbers for a single project and they’re growing fast.
JediSwap is among the first projects on Starknet and has quickly risen to become the most popular, reliable and secure DeFi protocol on the network.
The main DeFi products of JediSwap include an AMM (automated market maker) DEX, lending, and staking.
2. JediSwap offers lucrative yield farming opportunities
JediSwap has some of the most profitable liquidity pools on Starknet.
For example, the current monthly APY of the DAI/ETH liquidity pool on Starknet is over 18%.
Other pools on the DEX with juicy APY are the WBTC/USDC, ETH/USDC, WBTC/USDT, and ETH/USDT, with 18%, 16%, 13%, and 12% monthly APY respectively, as seen on Morphine.
What’s more, you can even earn over 8% monthly APY on your stablecoins in any of the stablecoin pools on JediSwap.
So, another good reason to look into JediSwap is for its lucrative yield farms for blue chip tokens.
And as you will find out in the next point, providing liquidity on JediSwap does not only get you good APY but also NFT rewards and potential JEDI tokens.
3. JediSwap is currently running a rewards program for liquidity providers
JediSwap is currently running a contest for liquidity providers to earn cool NFTs and potential JEDI token rewards. They call it the Rise of the First LPs contest.
The program is designed to recognise and reward the most loyal liquidity providers on JediSwap with special NFTs.
There’re 6 NFT categories you will qualify for based on your accumulated points and position on the leaderboard.
The more liquidity you add in supported pools on JediSwap and the longer you keep them, the bigger your points grow daily.
And the higher your points, the higher the NFT category you qualify for.
You must hold a minimum of $25 worth of liquidity over a minimum of 30 days to qualify for an NFT. And the campaign will end on July 25, 2023.
So, if you’re adding liquidity after this article was published, you sadly won’t qualify for this contest.
But there may be other opportunities lurking around for you.
Nobody knows what token rewards (if any) these NFTs will unlock in the future but with the juicy APY discussed above, I think it’s worth it to get some.
4. JediSwap has a great community to be a part of
In crypto, the community is everything, and JediSwap is on the right path in this regard.
JediSwap is a community-led project, supported by the Mesh Community.
Every member of the community can contribute to the project in various capacities (developer, writer, community manager, etc) and earn points which will be converted to the JEDI token when it launches.
For example, this article is the first of many I will be writing about the project as a way of contributing to the Mesh Community and earning points.
As expected, the more you contribute to the project, the more points and ultimately JEDI tokens you can earn.
JediSwap also has a vibrant and fast-growing community of users who are passionate about DeFi and Starknet.
Starknet is one of the most interesting, fastest-growing Ethereum scaling solutions and JediSwap is the leading protocol on this network.
The protocol has been audited by several reputable security firms, such as Trail of Bits and ConsenSys Diligence and has a very active community of users and developers.
So, if you’re looking to explore Starknet, JediSwap is a great project to start with.
After all, it’s the leading protocol on the network and offers a wide range of DeFi services such as DEX, lending, and staking.
More so, over 50% of the total value locked on Starknet is on JediSwap, it generates the largest volume on the network and has some of the most lucrative yield farms.