{"id":309641,"date":"2021-07-27T23:35:38","date_gmt":"2021-07-27T20:35:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/heres-why-dinoswaps-dino-tvl-rose-above-330m-a-week-after-launch\/"},"modified":"2021-07-27T23:35:38","modified_gmt":"2021-07-27T20:35:38","slug":"heres-why-dinoswaps-dino-tvl-rose-above-330m-a-week-after-launch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/heres-why-dinoswaps-dino-tvl-rose-above-330m-a-week-after-launch\/","title":{"rendered":"# Here\u2019s why DinoSwap\u2019s (DINO) TVL rose above $330M a week after launch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be2926e498\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be2926e498\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-dinoswaps-dino-tvl-rose-above-330m-a-week-after-launch\/#VC_backing_gives_users_extra_conficence\" >VC backing gives users extra conficence<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-dinoswaps-dino-tvl-rose-above-330m-a-week-after-launch\/#Yield_opportunities_attract_deposits\" >Yield opportunities attract deposits<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Here\u2019s why DinoSwap\u2019s (DINO) TVL rose above $330M a week after launch <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and\u00a0newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching.\u00a0<\/p>\n<p>One new project that has steadily gained traction in terms of user growth and total value locked (TVL) since farming went live is DinoSwap (DINO), a Polygon network-based cross-chain protocol that rivals the likes of PancakeSwap and other automated market makers. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/72ca169a-a915-45ae-afa4-22567ea71dfa.png\"><figcaption style=\"text-align: center;\"><em>DINO\/USD 1-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/dinoswap\"><em>CoinGecko<\/em><\/a><\/figcaption><\/figure>\n<p>Data from CoinGecko shows DINO that saw its price trade as high as $4.28 upon launch and a surprise flash crash pushed the price to $2.30 on July 25. The price has since recovered to trade above $3.\u00a0<\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>DeFi industry draws in commercial banks? Siam bets with $110M fund<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"VC_backing_gives_users_extra_conficence\"><\/span>VC backing gives users extra conficence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>DeFi&#8217;s success has been a boon for the crypto ecosystem, but its rapid rise has also brought numerous scam projects and rug pulls such as Polywhale Finance, which was a leading yield farm on the Polygon network before the developers of the project performed a &#8220;soft rug.\u201d<\/p>\n<p>Unlike projects with anonymous developers, DinoSwap has received more than $4.7 million in funding from venture capital funds and this could boost the confidence of investors who fear a rug pull.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ?ref_src=twsrc%5Etfw\">@DinoSwapHQ<\/a> team is thrilled to announce that we have successfully secured investment backing from our anchor fund <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashed_official?ref_src=twsrc%5Etfw\">@hashed_official<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DeFianceCapital?ref_src=twsrc%5Etfw\">@DeFianceCapital<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/kDbpjPOvi4\">pic.twitter.com\/kDbpjPOvi4<\/a><\/p>\n<p>\u2014 DinoSwap (@DinoSwapHQ) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ\/status\/1409502436461584390?ref_src=twsrc%5Etfw\">June 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This helped provide momentum ahead of the official <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ\/status\/1416232179760238594\">launch<\/a> of the DinoSwap protocol on July 17, which quickly amassed a total value locked of more than $300 million by July 18 according to data from DeFi Llama. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/9d243b65-1bc4-4200-a36b-b5c4eb58842a.png\"><figcaption style=\"text-align: center;\"><em>DinoSwap total value locked. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/protocol\/dino-swap\"><em>Defi Llama<\/em><\/a><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Yield_opportunities_attract_deposits\"><\/span>Yield opportunities attract deposits<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The rapid rise in TVL on the platform is due in large part to attractive yield opportunities offered by the protocol. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Did you know <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24XMARK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XMARK<\/a> is a non-rebasing representation of staked <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MARK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MARK<\/a> tokens, which rebase and have an elastic supply governed by a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/chainlink?ref_src=twsrc%5Etfw\">@chainlink<\/a> integrated <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/VXX?src=hash&amp;ref_src=twsrc%5Etfw\">#VXX<\/a> index? Well, you do now! So go farm some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24DINO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DINO<\/a> with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24XMARK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XMARK<\/a> &#8211; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDC<\/a> LP pair and enjoy 426.2% APR with $4.55M in TVL <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ixD7IWliW1\">pic.twitter.com\/ixD7IWliW1<\/a><\/p>\n<p>\u2014 DinoSwap (@DinoSwapHQ) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ\/status\/1417981419784130561?ref_src=twsrc%5Etfw\">July 21, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Users can deposit liquidity provider tokens into the \u2018Fossil Farms\u2019 section of the protocol which offers rewards ranging from 14.39% for a USDT-USDC pair to 901% for the DINO-USDC pair. <\/p>\n<p>The \u2018Extinction Pools\u2019 section of the protocol allows users to directly stake a growing list of individual tokens, including DINO and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ\/status\/1417608938258841601\">Aavegotchi<\/a> (GHST) whose returns are in the 79% to 641% range. <\/p>\n<p>DinoSwap also allows users to time-lock their DINO tokens in the \u2018Tar Pits\u2019, which offers a higher reward for longer duration lock-ups. <\/p>\n<p>Regular DINO token burns are also a standard practice utilized as a way to help maintain the value of the native token and bring a greater level of stability to the ecosystem. <\/p>\n<p>According to the most recent ask me anything session from the DinoSwap team, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DinoSwapHQ\/status\/1418682878192390146\">upcoming plans<\/a> on the project\u2019s roadmap include improvements to the DinoSwap AMM, multi-chain bridge and the addition of gamification products and governance features.\u00a0<\/p>\n<p>With Bitcoin price vying to flip the $40,000 level back to support, and altcoins showing double-digit gains, DinoSwap could possibly become one of the largest AMM&#8217;s on the Polygon network and if DeFi tokens have another run in the coming quarter, DINO price could rise, especially if new staking pairs are offered in the near future.\u00a0\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/here-s-why-dinoswap-s-dino-tvl-rose-above-330m-a-week-after-launch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Here\u2019s why DinoSwap\u2019s (DINO) TVL rose above $330M a week after launch &#8221; Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and\u00a0newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching.\u00a0 One new project that has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":309642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYzk1YjJmMTItZTlhYS00Zjg4LTk0OWEtYzA2YjQzODlmYmVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74868,95119,73785],"class_list":["post-309641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-defi","tag-layer2","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/309641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=309641"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/309641\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/309642"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=309641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=309641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=309641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}