Zoomswap is a young DEFI project built on IoTeX network. Benefited from IoTeX’s fast finality, low transaction fee, Zoomswap has exceeded 20M liquidity by end of October 2021.
People love Zoom because of its intuitive UI, high APY, and variety of farms/pools. But we don’t stop here; we’d love to take the protocol to next stage.
Zoomswap V2 is at the corner of launching. Here is what we have in V2:
- A brand new token $ZM. All $ZOOM tokens can be converted to $ZM with 1:1 ratio. $ZM has the same total supply and halving mechanics.
- NFT farms/pools that supports NFT farming. We’d love to work with all NFT projects to provide liquidity to their NFTs. Interested in collaboration? Apply here>>> ZoomFarm Request Form
- Protocol with owned Liquidity. V2 is going to support a brand new protocol to bring Decentralized Reserve Currency to IoTeX.
- ZoomLoot? What’s it? “Loot is randomized adventurer gear generated and stored on chain.” With the fast and low cost IoTeX chain, what a loot can be? We will announce the details next week.
Launch Time
Zoomswap V2 and upgraded farms are expect to launch on 11/5/2021 5AM UTC, block height: https://iotexscout.io/block/14103800.
Migration Plan
We have prepared a migration tool for you to smoothly migrate your staked LP tokens to a new farm to enjoy the high APY with the farms.
Migration of $ZOOM token
You can simply deposit your $ZOOM token and mint $ZM token on new website. https://zoomswap.io/swap
Migration of Farms
Migration is simple and easy. There are two types of farms.
- None-$ZOOM related farms. We have auto-pilot for the migration of these farms. With a simple click, after 3–4 txns confirmations from MetaMask, your farm migrations is done. You will need to do this for each farm if you participated in more than 1 farms.
- ZOOM/IOTX and ZOOM/BUSD_b farms. For these two farms, you need to do it manually because it requires a token swap in the middle. You can follow the migration guide step by step to complete the migration.
To migrate your farms, you can go to https://zoomswap.io/migrate/
$ZM rewards for Affected Users
Zoomswap users could not claim $ZOOM rewards starting from 10/30/2021. We calculated the rewards and allow these affected users to claim $ZM token with 1:1 mapping from $ZOOM rewards. And we give 20% extra bonus when they claim the rewards.
FAQs
Why there is a new token?
Yes, $ZM. The farms are not upgradable by its smart contracts. The upgrade of the protocol needs new farming smart contracts, and a new token. The new token will be able to be swapped from old ZOOM at 1:1 ratio. Please note that the swap is one-way. You cannot swap back to ZOOM from ZM.
What happens if I don’t migrate?
The old farm does not produce rewards anymore. To enjoy the farming, please migrate your LP tokens to new farms.
About ZoomSwap
ZoomSwap is a cross-chain infrastructure project that builds liquidity for layer-one blockchains, AMMs and partnering projects. Launching on IoTeX, there is an exciting opportunity for farmers to earn ZOOM and other project tokens.
ZoomSwap benefits from fast and cheap transaction capabilities on IoTeX.
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