Heads up, PRVArmy! We have already covered most of our notable features. So, our PrivacySwap 2.0 Playbook ends here. However, we would like to wrap up the series with this article!
PrivacySwap is committed to transforming the financial industry. This vision brought a team of cybersecurity experts together to establish PrivacySwap to improve DeFi’s market position and maximize passive revenue for its users. The platform developed from being a mere yield farming system to eventually a DEX. Now, we will discuss what PrivacySwap offers and how you can utilize the different features to earn and start your crypto journey.
PrivacySwap; from privacy to utility
PrivacySwap started out as a yield farming platform. Initially, the platform wanted to strengthen the security of DeFi projects in the crypto space. However, as the platform continued to explore its options, PrivacySwap realized that security alone is not enough to sustain the users. Naturally, users want utility and more ways to earn.
With that, PrivacySwap started to expedite the launch of its various features as part of its roadmap. To start, the platform launched the PrivacyVault, which helped users to earn passively even at their most idle time. Eventually, the platform opened its PrivacyCards along with its amazing features to a few early access recipients. This is also to set expectations and to receive comments from their valued investors on which part is viable and not.
Next up is Hack the Vault, which was one of the platform’s early features. It is a PVP game where players need to buy the correct key to open the prize pot. The game lasted for a few rounds. However, the game admittedly requires further tweakings to make the game much more exciting. For now, PrivacySwap paused the game.
Last November, PrivacySwap released its dual token system, the PRV2 and PRVG. It also included a complete revamp of the platform’s UI. This new UI and the dual token system didn’t last long as the platform had already announced the launch of DEX as part of its roadmap.
Now, the platform is getting ready to launch the DEX as PrivacySwap’s final layer. So, we will discuss the features that PrivacySwap will carry over the DEX.
The popularity of NFT is one of the reasons why PrivacySwap also started offering NFTs as its feature. PrivacySwap intends to make NFT available to its customers to boost the APR of their native farms. Their NFTs will be divided into three categories based on their costs and benefits. These “Genesis NFTs” are available in Privacy Silver, Privacy Gold, and Privacy Diamond.
The cost of one Privacy Silver NFT is 0.18 BNB. Putting one of these NFTs to use will increase your APR by 10%. An additional 20% APR is available with the purchase of a Privacy Gold NFT, which costs 0.38 BNB. Finally, PrivacySwap’s Privacy Gold will give you an additional 50% APR for a fee of 0.8 BNB for every transaction.
While the benefits of the Genesis NFT were not thoroughly enjoyed in the second layer of PrivacySwap, owners are encouraged to hodl their limited edition NFTs as these are still usable once the DEX is launched. Among other things, there will be an NFT-only staking pool for the loyal hodlers of the Genesis NFT.
PrivacySwap’s PrivacyCard is indeed the platform’s most notable feature. PrivacyCard is the first-ever debit card that is usable globally. The early access recipients and even the active investors in the community provided valuable feedback to the team with regard to the platform and the cards. These comments helped shape up the features and requirements of the cards.
Black Premium, Black Metal, Silver, and Gold Metal are the four tier options for the PrivacyCard. We dropped the staking requirements on our strong PrivacyCard so that more people can purchase it.
To purchase a Black Premium Card, $200 worth of PYDEX must be staked. A Black and Silver Metal Card will cost you $1,000 worth of PYDEX to purchase. Finally, if you want to buy a Gold Metal Card, you’ll need to stake $2,000 worth of PYDEX.
The amounts listed are for staking purposes only. You’ll still have to pay a set amount for each card.
You can purchase the PrivacyCards on our official website: https://cards.privacyswap.finance/.
PrivacySwap launched two new tokens during PrivacySwap 2.0. These tokens are called PRV2 and PRVG. PrivacySwap aimed to have a dual-token system that is why they release two tokens on PrivacySwap 2.0
PRV2 is PrivacySwap’s new utility token. This token is the upgraded version of the original token, the PRV. With PRV2, PrivacySwap guarantees a lower fee for hodlers, and an anti-whale measure by imposing an 8% sales tax. In addition, PrivacySwap assured up to 70,000% APR on PRV2, once staked.
Moreover, the “deflationary” taxes of PRV2 will be converted into BUSD. It will then be distributed to PRVG holders.
PRVG, on the other hand, is PrivacySwap’s governance token. Holding one of these tokens will give you the power to participate in the platform’s future decisions. In addition, they(PRVG holders) will earn a large portion of the deposit fees and sales taxes collected from the new PrivacySwap farms. As a result of its scarcity and low production capacity, PRVG is only available in very small quantities. A PrivacySwap community owner is someone who holds and stakes PRVG.
Moving to DEX, PrivacySwap revised its token system again. Once they transition to DEX, the platform will only have PYDEX as its token. PYDEX still embodies PRVG and PRV2’s features, though there is only one token. You can use it to stake into high APR farms and pools, earn benefits through referral, participate in the platform’s future, and stake to buy PrivacyCard.
PrivacySwap promised that PYDEX would be the platform’s final token.
Since PrivacySwap’s goal is to offer all the possible ways of earning to its users, the platform is also launching the Hackernet ecosystem. Aside from yield farming, games, trading, and referring, PrivacySwap saw freelancing on cybersecurity services as one of the great sources of income.
Hackernet will offer highly curated bug bounty, white hats, and smart contract auditors. But wait! PrivacySwap’s investors will also earn a percentage of every transaction that happens in the marketplace.
This feature will be available at the end of 2022! So ensure to stick with us if you are interested to know more.
The “Swap’ in PrivacySwap stands for the ability to trade tokens. PrivacySwap has always visualized to become a DEX since day one. Now, PrivacySwap DEX will soon come to life.
PrivacySwap DEX still functions as the usual DEX. You can trade supported tokens to PYDEX or vice versa. However, PrivacySwap DEX is the first DEX to feature a debit card. PrivacyCard, again, is usable worldwide and supports various cryptocurrencies.
DEX will come to the public this first quarter of 2022. Once the platform finishes the smart contract audits with the help of Paladin, PrivacySwap will release the DEX.
PrivacySwap also held an AMA regarding the DEX release. For the most notable features and discussions, read the article here.
PrivacySwap carries several notable features worthy of investing. Aside from these that we mentioned, PrivacySwap will soon launch many more features that will surely benefit everyone. One of these features is the NFT game. We can’t go to the details yet as everything is still under construction. Nonetheless, we ensure to update everyone regarding all the new features we will be releasing.
So, make sure that all your notifications are on to be updated whenever we post new content and features.
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