To navigate its DeFi ecosystem, you need to know its decentralized exchanges (DEXs). Today, let us introduce to you the best 3 DEXs in Cronos.
DEX #1 – VVS Finance
First of the best three DEXs in Cronos is VVS Finance, otherwise known as “Very Very Simple” Finance. Currently, it’s the top DEX on Cronos. With a TVL of $197.44 million, it accounts for over half of Cronos’ TVL. It was created as a fork from Uniswap. The project aims to make DeFi simple for its users. VVS’s native token is, you guessed it, $VVS.
VVS’s main product is its Bling Swap feature. This allows you to swap tokens within the Cronos ecosystem. Moreover, it also has a suite of other services as well, such as:
- Liquidity Pool (LP) Crystal Farming. This allows you to deposit two tokens into a pool. To reward you, their dApp gives you $VVS tokens.
- Staking. You can use the platform’s $VVS tokens in its dApp’s “Glitter Mines.” By staking within these mines, you earn a healthy yearly return.
- Boosted Rewards. Stakers of $VVS tokens have an option to lock their yields. With that, you can boost your rewards for LP farms.
- Initial Gem Offering This is VVS Finance’s own launchpad. Users who have staked $VVS tokens can buy newly-launched tokens from the IGOs accessed via the launchpad. Also, it should be noted that the IGO tokens are bought with $VVS tokens.
1/ We are super excited to share that VVS Initial Gem Offering is finally out in the wild and open for business!
Read more: https://t.co/FMbY9jjZDb
— VVS-Finance (@VVS_finance) November 30, 2021
Indeed, VVS is dominating the Cronos ecosystem now. But, what about the other two DEXs? Let’s check them out too!
DEX #2 – Ferro Protocol
Next out of the best 3 DEXs in Cronos is Ferro Protocol. Ferro is a DEX focusing on optimizing swaps for stablecoins. This means lower waiting times and lower slippages. Today, its TVL stands at $47.1 million. The project was created as a fork from Saddle Finance. Similar to VVS, Ferro has its own native token, $FER.
Swapping stablecoins on a general DEX could cost you higher slippage and fees
Especially when you're dealing with higher volumes ??
That's when Ferro comes in handy ??
— Ferro.cro (@FerroProtocol) February 10, 2023
The main uses of $FER tokens are for staking and rewards. In addition, the Ferro DEX comprises:
- Ferro Swap. You can swap tokens with low slippage here.
- Liquidity Pools. This lets you earn $FER for providing liquidity.
So, if you’re trying to swap between stablecoins on Cronos, why not give Ferro a try?
Next, let’s move on to our final DEX on the list.
DEX #3 – Bored Candy City
Last, but not least, of the best 3 DEXs in Cronos is Bored Candy City. It claims to be the first community-owned DEX in . This is because the DEX re-distributes 100% of its fees. It sends all earnings to liquidity providers, $CANDY stakers, and community members.
Speaking of $CANDY, that’s the native token for Bored Candy City. It has multiple use cases for its DEX. By staking $CANDY, you can earn $CRO as a reward. Also, you can use $CANDY to participate in launchpads too!
As you can see from above, Bored Candy City is different from the other two DEXs in this list. It has a quirky, cartoonish vibe. Yet, it is also the most ambitious! The ecosystem has a wide range of other products. These include:
- Swapping and Liquidity. You can swap and provide liquidity in the community-owned DEX.
- Yield Farming. You can stake your Liquidity Pool (LP) tokens here. For that, you get a healthy return paid in $CANDY.
- Staking. You can stake $CANDY or $CRO for rewards.
- Candy NFTs. You can trade Candy NFTs! These can be staked for rewards as well.
- Launchpad. By depositing $CANDY, you can get access to tokens of new projects.
- Did you also know that you could play a Bored Candy City game? But, you can earn $CANDY while playing this Candy Crush-style game!
Are you looking to stake your while you wait for market??
Look no further, we have the best pools in @cronos_chain ? 72% ? 60% ? 96% ?? (Up to 192% with #candyfampic.twitter.com/0s4H7xGKWV
— Bored Candy City: DEX & AMM – NFT – Play2Earn (@BoredCandyCity) February 16, 2023
As of now, Bored Candy City’s TVL sits just at $1.53 million. However, it does have interesting ideas and concepts to its product.
We hope we’ve been able to help you navigate the best DEXs in Cronos. With that, what are you waiting for? Connect your CRO wallet and let’s get to swapping!
current price of CRO is $0.079. The market cap is $2 billion. Out of 30.26 billion CRO tokens, 25.26 billion already circulate.
