A new reward system has been <a href="https://decrypt.co/42060/swapx-dex-rewards-users-for-supporting-defi" target="_blank" rel="noopener">introduced</a> by the new decentralized exchange (DEX) SwapX for those users who would be offering liquidity across the DeFi ecosystem. 
<h2>SwapX To Offer Governance Tokens</h2>
On September 16, while making an announcement, new DEX stated that soon it will be releasing a liquidity provider token staking with the help of which the users offering liquidity could earn the governance token of SwapX .i.e., SWP.

The SWP token can be considered as a reward offered by SwapX for staking LP tokens on different DEXs like <a href="https://www.cryptoknowmics.com/news/uniswap-becomes-first-dex-to-exceed-1b-within-24-hour/">UniSwap</a> and Balancer.

Notably, the LP tokens have been introduced today on September 17.

The notification released by DEX further mentioned that a new liquidity pool SWP/USDT has also been introduced by SwapX.

Customers using these newly-launched liquidity pools will receive an additional governance token named as Paired Tokens. 

It is to be noted that these tokens would particularly be used as the pool.
<h2>Unite DEX Community With LP Tokens</h2>
Initially, the decentralized exchanges like Uniswap and Balancer will offer LP tokens as a reward to the users for providing liquidity to different token swap liquidity pools. 

LP tokens would be considered as a commitment fund to the pools of protocols. The number of tokens issued to the users would be equal to the funds offered to the pool. 

According to the report, SwapX has decided to offer the LP tokens in order to unite the DEX community which has been scattered.

While clarifying the differing between SWP Tokens and Pair Tokens, one of the representatives of SwapX stated that SWP is a governance token of SwapX and Pair Tokens are governance token of the individual liquidity pool.

He further stated, “The biggest innovation is that no other DEX has yet designed a governance token for individual liquidity pools.”

Apparently, with the help of Pair Tokens, the users can adjust the ratio of token and reward rates. SwapX believes that these tokens could also be used as income.

New DEX SwapX To Introduce Liquidity Provider Token Staking

A new reward system has been introduced by the new DEX SwapX for those users who would be offering liquidity across the DeFi ecosystem.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

New DEX SwapX To Introduce Liquidity Provider Token Staking

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