Features, improvements and news from February 2022

Features, improvements and news from February 2022
Features, improvements and news from February 2022
CROWD Staking




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Features, improvements, and news (February 2022) We have reached a point where it is time to inform the community regularly about new features. Of course, these features mainly come from the development department but are completed with information from other areas. The following information letter should only deal with essential features which were implemented by February 2022. The order is purely arbitrary

CCLP light saves auction participants

The big problem with the auction on Gnosis was the transfer of tokens and coins to the Polygon network. Many have failed to send these from Ethereum to Polygon. The team decided to launch a light version of the CCLP to help out without hesitation. It was worth it. Not only was this of help for many people to eventually participate in the auction. Also, the team was given the chance to gain initial experience on the mainnet, which was a nice side effect. Big thanks to the development team!

In most DeFi wallets, only the large coins and tokens are known – unfortunately not the CROWD token. In the current version of the app, however, you will find a CrowdSwap logo button with which you can simply add the CROWD token to the selected network. This currently only works on the Polygon network, as CROWD has not yet been released on Ethereum and BSC.

Evaluate Gnosis auction for launching crowd token

A lot of time was spent evaluating and testing the Gnosis auction platform. We put everything through its paces to assure that, in the end, everything would work during the auction.

Of course, there were typical issues with transactions and wallet connections. However, the auction went smoothly and by now most have claimed their CROWD tokens from the auction. Henceforward, we can look further ahead towards staking.

Distribute CROWD tokens to airdrop winners

Unfortunately, in December we had to postpone the distribution of the Airdrop (airdrop?) CROWD tokens to February. Thank you to everyone who took part and waited patiently for the distribution. As compensation, the tokens won could be staked for 50% APR over 6 weeks.

A huge effort was the distribution of the tokens to the more than 1000 winners, which could be done almost immediately after the auction, thanks to the team.

Withdraw CROWD Token from Vesting Contract

The so-called vesting contract provides an important function. This smart contract ensures that access to CROWD tokens from the Private Sale, Team, and Advisors areas is only possible after a certain holding period. The vesting contract does not offer the project/team the opportunity to change anything about the distributions that were made before. From our point of view, this is a fundamental part of a vesting contract.

In addition to security, the release of CROWD tokens distributed before the public auction at the right time is, of course, also an important function. Many have already been able to test the withdrawal in the app and receive the first tokens. The feedback was consistently positive and claimed the CROWD tokens did not cause any issues.

CrowdDex is coming

CrowdSwap will develop its Liquidity Protocol and of course, it makes sense to have our decentralized exchange as well. The CrowdDEX is well advanced in development and will also be introduced as part of the CCLP as soon as the first liquidity pools have been created.

You will receive results like this more often.


Design for adding and removing liquidity

For the CrowdDEX we need liquidity pools. These do not necessarily have to be created by CrowdSwap. Anyone can create such pools and provide liquidity for them. To make this as easy as possible, the UX team has already completed the necessary dialogs here.


Improving the integration of other DEXes

CrowdSwap thrives on integrating more and more DEXes into the application. In the past, this always required a new release of the Smart Contracts, which is very time-consuming on the one hand, and on the other hand, it cost a few thousand dollars, especially on Ethereum. With a change to so-called “low-level” calls, the team has now achieved that new DEXes can be integrated more easily and cost-effectively.

Staking for CROWD token

Being able to stake your token is a great feeling and a MUST in every project! The team, together with the UX designers, have completed a well-structured easy-to-use staking UI that people enjoy visiting once every morning to take a look at the rewards section.

The time indication showing when the next rewards are available gives each user transparency about their staking. The 40% APY can be maintained at the current level until the end of the year. However, we reserve the right to change APY after each quarterly period.

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