Look out Zilliqa, a new SWTH token has landed! SWTH — the native governance token of the Carbon protocol — is now available as a ZRC-2 token standard that can be immediately traded, or used to earn liquidity rewards on ZilSwap!
Following Carbon’s recent integration with Zilliqa, the new SWTH token will now be able to flow across the 180 project-strong Zilliqa ecosystem, and be used as a more productive asset on the dApps powered by the sharding blockchain platform. Opportunities for SWTH will continue to grow alongside Zilliqa as the token taps into its wide user base, leading to greater token discoverability and newfound utility.
Users can now buy ZRC-2 SWTH from ZilSwap, or provide liquidity to the SWTH/ZIL pool and earn from trading fees and liquidity incentives!
Earn Liquidity Rewards on ZilSwap
To encourage organic liquidity on ZilSwap, we are thrilled to be introducing SWTH liquidity incentives to early providers of the SWTH/ZIL pool. For a duration of 10 weeks, liquidity providers can earn SWTH rewards in addition to 0.3% of fees from all trades!
Rewards begin today 22 December 2021, and liquidity providers will be able to claim their SWTH earned from 29 December 2021, 8am UTC. SWTH incentives will end on 2 March 2022.
How to get ZRC-2 SWTH
Buy SWTH on ZilSwap
Users can now buy SWTH on ZilSwap against any other ZRC-2 asset. Select the SWTH token on ZilSwap’s swap page, or input the token address that can be found here: https://viewblock.io/zilliqa/address/zil1yk93f957fanapf0yszgm84p62xrxxfytj4d2tl
Withdraw SWTH directly from Demex
Existing SWTH holders can also acquire ZRC-20 SWTH by making a direct withdrawal into their Web3 wallets from Carbon onto the Zilliqa chain via Demex.
Start by selecting the option to withdraw SWTH on Demex, and choose the Zilliqa network to withdraw to. Do ensure the correct network (Zilliqa) is selected as choosing the wrong network may result in tokens being lost.
Next, enter the ZRC-2 address you would like to send your SWTH to, and you’re done!
Powering greater interconnectivity
With Carbon's aim to sit at the core of all decentralized ecosystems, the new ZRC-2 SWTH token is a huge step towards our vision in creating truly interoperable and accessible financial markets. As more blockchain networks become integrated with Carbon, users can expect to see even more SWTH token standards in pursuit of opening up the Carbon protocol to the wider DeFi ecosystem.
About Switcheo Labs
Switcheo Labs is a creative and experimental think tank that guides and nurtures decentralized ecosystems in the DeFi space. Founded in 2018, Switcheo Labs was born out of a simple desire to make finance accessible and trust optional. Recognizing the financial challenges that currently exist, Switcheo Labs innovates on robust alternatives to put power back where it rightly belongs, in the hands of the people.
For more information on Switcheo Labs: