Hello Hackernoon, we are PrivacySwap. Our PrivacySwap 2.0 is now complete. Now that we are creating our DEX, here’s what we offer and our plans for our next migration.
Introduction
PrivacySwap started as a yield farming platform. Eventually, the platform saw that a mere yield farming project wouldn’t satisfy its users’ demand. Therefore, they branched out to a yield aggregator. As the platform progressed, they realized that people did not want a vault alone. Users wanted high APR and farms.
With that, the platform released a game called Hack the Vault; it finished a few rounds with huge prize pots. However, the hype didn’t last too long because the game needs more tweaking to become a genuinely viable game. Alongside that, they also released a few of their Privacycard as part of their Early Access Program. Still, the platform developer and its users aren’t satisfied with PRV’s current state.
“I think one of the keys is that after moving away from being a farm, we started to realize that for farms to succeed, it required a very specific mix of tokenomics, marketing, and thought. It isn't some "throw in the dark and see what sticks" approach most would assume.”-PRV Admin on AMA with BSCNews,
Having that said, PrivacySwap developers collected all the comments and took them constructively to develop a new ecosystem that will bring a massive return to its users. Thus, PrivacySwap 2.0 was developed.
PrivacySwap 2.0 the new ecosystem
Privacyswap 2.0 is a new ecosystem; it still embodies most of PrivacySwap’s previous offerings. However, the platform upgraded these features to bring more income to its users, and here are those features;
PRV2 and PRVG
PrivacySwap brought its utility token to PrivacySwap 2.0, but it comes with a governance token this time. The platform also changed its name from PRV to PRV2. PRV2 will be the platform’s new utility token. Staking these tokens to PrivacySwap’s farms and pools will give you up to 70,000% APR.
PRVG, on the other hand, is PrivacySwap’s first and only governance token. Aside from participating in the platform’s future, holding one of these PRVGs will give you extra rewards. PRV2 is an inflationary measure with many deflationary measures in sales taxes. Instead of burning these deflationary "taxes," they will be converted into BUSD and handed to PRVG holders.
Apart from these, holding these tokens will grant you an instant ticket once PrivacySwap formally transitions into a DEX.
NFTs
As a yield farming platform, offering NFT is a bold decision for PrivacySwap. However, they see it as a fantastic avenue to provide extra income to its users. PrivacySwap NFTs have three variations; Privacy Silver, Privacy Gold, and Privacy Diamond.
Privacy Silver NFTs will cost you 0.18 BNB each. ONCE STAKED, an NFT of this type can boost your already high APR up to 10%. A Privacy Gold NFT costs 0.38 BNB each. Staking a Privacy Gold NFT can provide an extra 20% APR. Lastly, Privacy Diamond NFT, which can boost your APR up to 50%, will cost you 0.8 BNB each.
These NFTs could also grant holders exclusive participation to random airdrops to NFT holders, be part of their whitelisting, and more. Also, note that this first batch of NFTs is limited to 1500(500 each tier) only. So, grab one now and enjoy its lasting benefits.
PrivacyCard
PrivacyCard is indeed one of PrivacySwap’s most significant innovations. Its primary purpose is to ease crypto to fiat transactions without compromising security and convenience.
PrivacyCard comes in 4 different iterations; Black Premium, Black Metal, Silver, and Gold Metal. Each variant has different staking requirements, which the team lowered so many people can buy their PrivacyCard.
Before you can purchase a black premium card, you will need to stake at least 200 USD worth of PRVG. 1000 USD worth of PRVG is required before buying Black Metal or Silver Metal card. Lastly, you can only purchase a Gold Metal card once you staked 2000 USD worth of PRVG. Note that these are the STAKING REQUIREMENTS, and you still need to buy the card separately.
Referral Systems
PrivacySwap wanted to thank those users who share the platform. Therefore, they also issued referral systems to both their PrivacyCard and two tokens. For PrivacyCard, for every successful referral to a Black Premium card, you will receive a 10 USD referral fee. You will receive a 50 USD referral reward for every successful referral for the metal series. Note that you need to have a card of your own before obtaining such a referral reward, as it will go directly to your card wallet.
PrivacySwap wanted to thank those users who share the platform. Therefore, they also issued referral systems to both their PrivacyCard and two tokens. For PrivacyCard, for every successful referral to a Black Premium card, you will receive a 10 USD referral fee. You will receive a 50 USD referral reward for every successful referral for the metal series. Note that you need to have a card of your own before obtaining such a referral reward, as it will go directly to your card wallet.
For two new tokens, you will receive 1% of the harvest as a referral reward every time you refer. However, if you stake at least 2000 USD (in PRVG), you are eligible for a three-layered referral reward. You will receive 8% of the harvest as a reward for the first layer. 3% referral reward is guaranteed for the second layer and 1% for the third layer. In addition, you can also buy a Gold Metal card once you staked 2000USD worth of PRVG, as mentioned.
What will happen next?
DEX
PrivacySwap DEX plan is finally coming to life. PrivacySwap announced in their latest AMA that their DEX would come to life this December.
PrivacySwap DEX plan is finally coming to life. PrivacySwap announced in their latest AMA that their DEX would come to life this December.
PrivacySwap saw how amazingly DEX users earn by using such platforms. These, along with all the fantastic features, PrivacySwap will bring DEX into reality. Though the platform has not released any details regarding the upcoming DEX yet, the developer mentioned that they are already finalizing tokenomics and everything. So, the DEX can run as seamlessly as possible.
They also promised that everyone who hodl PRV2 and PRVG would receive excellent benefits once they transition into an actual DEX.
We will never leave anyone behind- PrivacySwap
Conclusion
PrivacySwap has been restless to create unique features that maximize users’ assets down to a single cent. Many features had come regardless of their age. Thus, making the platform one of the fastest platforms to upgrade its ecosystem (for good).
Nonetheless, PrivacySwap promised that this is only just the beginning, and they still have several ideas on their mind waiting to be unveiled.
To receive an update regarding their upcoming DEX, or if you have questions, suggestions, clarifications, and violent reactions, you can contact them on their official websites below.
Remember, “We are always listening, and we want to listen!”-PRV Admin on their latest AMA.