What is Snowswap?
SnowSwap is a decentralized exchange for the yield-bearing LP tokens of the top DeFi projects. It’s based on Curve’s AMM model and allows users to easily enter and exit yearn.finance’s yVaults and other yield-bearing tokens for only the cost of a swap fee. Increasing liquidity for similar yield-bearing tokens makes it easier for users to speculate on their yield or performance.
In general, providing liquidity to SnowSwap’s pools provides a simpler and more cost effective way to gain exposure to a basket of yield-bearing assets with the added benefit of receiving a portion of swap fees.
When a user provides liquidity to the SnowSwap pools, they receive a SnowSwap LP token depending on the pool. Liquidity providers can stake these LP tokens to earn additional yield in the form of SNOW, SnowSwap’s governance token. 80% of the total SNOW tokens will be distributed to SnowSwap liquidity providers via liquidity mining rewards designed to bootstrap liquidity as well as the SnowSwap community
