Crypto is booming and there are new platforms launching every single day. RobiniaSwap had its grand opening on October 1st in 2021, and it has attracted quite a lot of interest online. But, what is RobiniaSwap? Is RobiniaSwap worth using? What is the purpose of the RBS token? Who are the people behind RobiniaSwap? In this article, we will try to answer many of these questions.
RobiniaSwap is a Defi platform running on the Binance Smart Chain. But, one of the things that make it a little bit different than many other Defi platforms is the fact that it has built-in a bridge making it able to bridge tokens from the Steem and Blurt blockchain to the Binance Smart Chain. This might not be a coincidence, considering that the crew behind RobiniaSwap has been making applications on the Steem blockchain for a long time. Since Blurt is a Steem-fork, it is easy to see how Blurt could easily be implemented on the RobiniaSwap platform as well.
Who has created RobiniaSwap?
I have already discussed this a little bit, but if we take a look at the official information, this is what we find out.
Robinia Swap is operated by Blokfield.INC. Blokfield.INC is the Witness of the STEEM blockchain (@roadofrich) and the Validator of HDAC (RIZON Platform) Blockchain. We have been running blockchain communities and services for many years and are committed to running secure DeFi services. You can identify us through several blockchains such as STEEM, HDAC(ATOLO), and WICC.
In other words, we don’t know the actual names of the team, but we do know about their experience and they can be identified by their works on other blockchains and platforms.
What is the vision of RobiniaSwap?
RobiniaSwap has the functions of most other similar platforms. Here you can stake liquidity pool tokens, you can earn RBS tokens in the process, and there will also be future IFO (Initial Farm Offerings), and other interesting functions.
Robinia Swap is the Yield Farm DeFi and AMM decentralized exchange running on Binance Smart Chain. Users are incentivized to pool liquidity on RobiniaSwap through yield farming to earn the native currency, RBS. Additionally, Robinia can use their earned RBS to stake and earn other tokens and unlock exclusive features
If we look at this, you will mostly discover that RobiniaSwap is quite similar to most other platforms, with a few additions and a couple of functions that make it more interesting than other platforms. Currently, the close relationship between Steem and Blurt might come as a bonus for many people as it bridges the connection between the platforms and makes it easier to farm and earn a nice yield with your tokens.
What is the purpose of the RBS token?
RBS is the name of the token of RobiniaSwap. This token has many purposes. If you want to add liquidity to a pool like the RBS-BNB pool, you will need 50% value in BNB tokens and 50% value in RBS tokens to add liquidity to the pool on PancakeSwap. You can later use your LP tokens to add them to the farming pool on the RobiniaSwap platform and earn further RBS tokens in addition to the rewards you receive based on the trading activity in the same pool on PancakeSwap.
- In other words, you can use RBS to add liquidity to pools on PancakeSwap.
- You can also use RBS to stake in the RBS pool on RobiniaSwap. This will help you generate and earn even more RBS tokens.
- You can also trade your RBS tokens and turn them into bSteem, BNB, or other tokens available on PancakeSwap.
There is no max supply of the token, but the emission rate of the token is set to gradually decrease. At a later point, the emission rate will be set through a governance vote.
One of the use-cases that I believe will come in the future is if projects will have their IEO on RobiniaSwap. If that would happen, much like on Binance, you will need to hold RBS tokens to take part in the token sale, and this will greatly increase the demand for the RBS token. Other things that will add value to the token is games, activities, NFTs, and similar products that might come to the platform in the future.
How to use RobiniaSwap?
It is very easy to use RobiniaSwap. The easiest solution is to have a MetaMask wallet and use it on the Binance Smart Chain. By default, Binance Smart Chain cannot be found in MetaMask, but you can add it as a custom network with the following data.
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
When this is done, you will see your address on the Binance Smart Chain and you can start sending tokens to your address. It is important that you need BNB in your wallet in order to do transactions on the Binance Smart Chain. You could start the entire process by sending some BNB tokens to your MetaMask address from Binance.
Have you gotten some BNB tokens in your wallet? You can now use the RobiniaSwap interface and buy some RBS tokens through PancakeSwap, or you can use the bridge to send Steem tokens or Blurt tokens from those platforms to your wallet. You can find a very thorough and splendid guide showing how you can use the bridge to transfer Steem and Blurt to and from RobiniaSwap in the following Steemit article.
When you have tokens in your wallet on Binance Smart Chain, you can either add them to the different pools, or you can add liquidity to trading pairs on PancakeSwap and later add those liquidity pool tokens to the different farms on RobiniaSwap.
These are the main features of RobiniaSwap at the moment, but more will come in the future!
How much can I earn with RobiniaSwap?
Let us cut the crap and instead write about what you really wanted to find out as you came to read this article. Of course, you want to do research and make sure that you invest your money in safe projects only. But, if you have decided to actually use RobiniaSwap, how much can you possibly earn?
As you can see from the image below, the current APR (Annual Percentage Return) is currently 3848% if you add RBS-BNB tokens to the liquidity pool on PancakeSwap and later approve the contract and submit it at RobiniaSwap. What do these numbers actually mean?
Above you can see a calculation made at the actual RobiniaSwap website. If you add $1000 worth of value to the liquidity pools and then submit it to the given farm on RobiniaSwap, you should reward the actual value you invested in a return within 7 days (if you cash out). If you decide to compound your income, then you will receive back more tokens worth 20x more in one month.
Of course, there is a tiny problem and that is the lack of liquidity and volume. Because, if people do this and receive so many RBS tokens in reward and start to dump them, they will not be much worth in the end, and the value of your farm work isn’t that big at all. But still, this sounds really promising and interesting, and if you end up with 20x more RBS tokens in one month and the value has dropped 10x, you are still in a giant plus.
What do we make of this?
This is my RobiniaSwap experiment
It is October 4th today and I am adding $500 worth of RBS tokens and $500 worth of BNB tokens to the liquidity pool on PancakeSwap. I will then just let it work and compound until November 4th, and then I will return here and share my experience with you! Are you ready for that? I will update this article with the link to the article with the results that should be published on November 4th (or one day earlier or later).
Above you can see that I am adding liquidity to the RBS-BNB pool on PancakeSwap. The tokens had a total value of approximately $1000 at the time I added them to the liquidity pool. I added a total of 1.34 BNB and 344 RBS tokens. This is important to remember, because if BNB or RBS should moon in the upcoming days, then once I withdraw the funds from the pool, I might suffer from impermanent loss. What does it mean? If BNB pumps and RBS dumps, then I might end up getting back 0,5 BNB tokens upon withdrawal and 500 RBS tokens. However, as the value of the RBS tokens is much less, I might end up with a smaller value in tokens than what I originally added to the pool.
However, since I should get an interest of almost 4000%, I guess it should stand the trial, even if the RBS value should dump and BNB pump.
And here we go. You can see that I received 19,76 RBS-BNB LP tokens as a result of adding funds to the liquidity pool. Now it is just to wait, pay attention, and wait for my update to come in one month to present the result of the little experiment!
What do you think about RobiniaSwap?
Do you have any comments or questions about RobiniaSwap? Have you used the platform? Were you satisfied? I would love to hear your thoughts, comments, experiences, and whatever might be in your heart. And do not forget to bookmark www.ipaddressguide.org and return in November to find out whether or not my RobiniaSwap liquidity pool investment has been a success or not!
- Would you like to learn more about places where you can generate passive income in the crypto-world? Click the link for more information!