CanaryXSwap is an Automated Market Maker (AMM), and the Exchange is at the heart of CanaryXSwap.
The CanaryXSwap Exchange offers several features that support decentralized trading:
CanaryXSwap lets users trade without the need to go through a Centralized Exchange. Everything you do on CanaryXSwap is routed directly through your own wallet—no need to trust someone else with your coins!
You can only swap tokens on CanaryXSwap if there is enough liquidity for those tokens. If no one has added significant liquidity for the token or tokens you want to swap, it will be difficult, expensive, or impossible to do so.
Providing liquidity will get you Liquidity Pool Tokens (CANARY), which will earn you rewards via trading fees for making sure there's always liquidity for the exchange to use.
Yield farming lets users that are providing liquidity earn CANARY tokens as rewards by locking their Liquidity Pool tokens into a smart contract. The incentive is to balance out the risk of impermanent loss that comes along with locking in your liquidity.
Initial Farm Offerings (IFOs)
An Initial Farm Offering is an event that lets users buy into a limited-time offer to purchase new tokens. The IFO price is usually very generous.