Decentralized finance, or DeFi as they are known in the crypto community, emerged in the summer of 2020. DeFi’s red-hot economy sparked a new round of the bull market. That has made DeFi yield farming a success in the marketplace and has replaced physical mining equipment. As money continues to pour in and the game expands its scope, many excellent yield farming projects are already in full swing. And CSC is among the big hits, along with OneSwap.
CSC: a unicorn that never stops growing
CSC, or CoinEx Smart Chain, was designed to create a closed-loop value chain without focusing too much on decentralization, but on moderate and effective decentralization that facilitates yield farming application scenarios in the DeFi ecosystem. To do this, CSC adopts PoS and PoA as the underlying consensus mechanism.
The PoS consensus protocol endows CSC with a token economy, while the PoA consensus mechanism determines the structure of its upper backbone. The combination of both underpins value innovation in the blockchain, accelerates interactions in the ecosystem, increases TPS capacity, and greatly improves the block generation rate, while being more environmentally friendly.
Additionally, CSC is incubated by the CoinEx ecosystem. As a well-established public exchange chain, CoinEx endows CSC with abundant resources, such as its huge user base and technical team, to ensure CSC a start-up and technical support.
It’s fair to say that, both in terms of background and vision, CSC was born with a silver spoon in its mouth, as it enjoys the inherent advantages of a unicorn.
Following R&D from the CoinEx public chain team, CSC completed its DEMO at the end of April 2021, and at the same time the CSC testnet was launched. The team released the CSC white paper and API in early May 2021. At the end of June, the CSC Mainnet ecosystem was launched and its liquidity pools were opened. Since the end of June 2021, CSC has launched the integrated operating interface for DeFi’s yield farming events, supporting multiple stablecoins and its native token CET.
In accordance with the announced ecosystem construction plan, CSC will support the cross-chain migration of ETH, EOS, BST and DOT in a manner that enhances the overall liquidity of the DeFi industry.
The CSC ecosystem emerges as a response to the problems faced by the Ethereum ecosystem. Having made a breakthrough in scaling and processing, CSC is equipped with a million TPS capacity and a high level of scalability to support a variety of business scenarios to be deployed in the ecosystem. In this sense, CSC is a more promising ecosystem than Ethereum.
In terms of ecosystem building, CSC has launched OneSwap, a DeFi project, comparable to Ethereum’s UniSwap. The two decentralized exchanges apply the AMM model. However, with the support of the CSC ecosystem, OneSwap introduces an AMM-based order book model. That is, users can carry out both market order and limit order transactions.
This freedom makes it extremely easy for users to capture value. Additionally, OneSwap, which is based on permissionless token listing and AMM, further connects with its users through the built-in OneSwap wallet and enables users to deploy any smart contract at the same time. With the full support of the CSC ecosystem, OneSwap has some custom features that UniSwap does not have.
Other advantages of this ecosystem DeFi and CSC
Most DEX products have shortcomings in user experience. For example, PancakeSwap users can only see smart mining and project returns, and third-party tools are needed to analyze market depth and trends. Without multi-dimensional auxiliary tools like the candlestick chart, depth chart, and order quantity, most users cannot make well-informed decisions.
At this point, OneSwap offers services like candlestick chart, depth chart, and delegation orders. OneSwap charts do not differ from centralized exchanges and can present market information for various tokens, including price trend, volume, and depth, helping users make better transaction plans.
The iteration of transaction and needs visuals in OneSwap is a great innovation supported by CSC. OneSwap will carry the expectations of the CSC ecosystem and break through into the DEX segment with its innovative merits.
The CSC ecosystem, compared to Ethereum, has greatly improved in performance and compatibility of the underlying layer. OneSwap, which rivals UniSwap, has done a better job of capturing value and the user experience. Perhaps, the direction for ecosystem construction that CSC has clarified is exactly where public broadcasters urgently need to make a breakthrough.
The combination of the CSC ecosystem and OneSwap has earned the recognition and attention of a large number of users. On July 21 at 00:00 (UTC), a new yield farming event was launched with an initial bet amount of $ 941,293.05. Since then, many users have looked at CSC, multiplying by 28 the total blocked value (TVL) today. During the event, many users have become part of the OneSwap ecosystem through CSC.
The cooperation between the CSC ecosystem and OneSwap forms a synergy effect. Following this exciting case, more developers and excellent users will find CSC attractive and join the CoinEx team to build the CSC ecosystem together.
CSC’s strong ecosystem endows CET with great liquidity, and its high value and liquidity catalyze the development of the OneSwap pool. This is how they both create a synergistic effect and bring remarkable benefits to miners.
The key to the success of a crypto project is usually in its returns. Thanks to the collaboration of CSC and OneSwap, which brings both benefits and popularity, users can easily participate in low-cost yield farming and make a huge fortune.
Final comments on CSC and OneSwap
With the provision of the CSC ecosystem and CoinEx’s powerful technical team, the boom in yield farming at CSC and OneSwap can last for a long time, which will be further fostered by the thriving OneSwap. The funds from the CSC ecosystem and the growth of OneSwap will provide an inexhaustible source of benefits for its users.
The dazzling performance of the partnership between CSC and OneSwap has somewhat accelerated the development of the mining industry. The ongoing mining event will attract more miners to share in the profits created by the two tech giants.
CSC’s goal is to provide a single-ecosystem decentralized infrastructure, and further enhance ecosystem construction through versatile, long-term innovations, bringing exciting changes to the entire industry. The mining event launched by CSC together with OneSwap has generated great enthusiasm in the market. High annual yields and significant rewards have brought CSC’s performance agriculture into the spotlight of the sector.
We have every reason to believe that the CoinEx team will work harder to consolidate its technical force to reshape the DeFi industry while ensuring its users huge benefits, and building CSC as a super ecosystem!