Opportunities with TeddySwap, ITN & Honey Badgers
Episode by Peter Bui on February 24th, 2023
TeddySwap is an upcoming decentralized exchange (DEX) that is being built on the Cardano blockchain. It has a unique focus in that it will focus on stablecoin assets in the ecosystem.
As one of the most anticipated projects in the Cardano ecosystem, TeddySwap aims to revolutionize the way users trade digital assets by providing a decentralized, fast, and secure trading platform. With its innovative technology and a growing community of supporters, TeddySwap is poised to become a major player in the decentralized finance (DeFi) space on the Cardano network.
Proof of Cardano
Teddy Swap References
Becoming a TeddySwap Honey Badger
TeddySwap Honey Badger documentation on Github
Teddy Swap FISO
A FISO is an acronym that stands for Fair Initial Stakepool Offering. It is a unique token distribution mechanism introduced by MinSwap, a decentralized exchange being built on the Cardano blockchain. The team from TeddySwap are adopting this method to distribute their tokens to the Cardano ecosystem, and participants that are interested in what they have to offer.
FISO is designed to offer a fair and transparent way for users to participate in token sales, providing an alternative to traditional initial coin offerings (ICOs) that have been criticized for being centralized and prone to market manipulation. In a FISO, the token distribution is conducted through a stake pool on the Cardano blockchain. It is important to note that this isn’t a token sale like an ICO but an additional airdrop of tokens on top of a regular stake pool’s rewards from the Cardano protocol.
Users can participate in the token distribution by delegating their ADA to one of the stake pools on the TeddySwap FISO shortlist, and in return, they receive the TEDY token in addition to their ADA token rewards.
Find out more information about the Teddy Swap FISO.
Teddy Bear Club
TeddySwap has announced a collaboration with Peppermint to offer an enhanced NFT experience to its users. The partnership aims to provide immediate utility to TeddySwap FISO delegators by enabling them to earn additional TEDY tokens and receive boosted rewards for the Liquidity Bootstrapping Event (LBE).
Additionally, long-term liquidity provider bonuses will also be available. The Teddy Bears Club collection will consist of a total of 10,000 NFTs, and the exact launch date will be announced soon.
FISO delegators who hold any of the NFTs will earn increased TEDY rewards per NFT held. All TeddySwap FISO delegators will be automatically whitelisted for the NFT drop. This will give them early access to securing the NFTs and earning more TEDY rewards.
Details about the Teddy Bear Club NFT launch.
Teddy Bear Club policy ID: ab182ed76b669b49ee54a37dee0d0064ad4208a859cc4fdf3f906d87
You can also purchase the Teddy Bear NFTs on the secondary markets.
TeddySwap Incentivised Testnet
TeddySwap has recently launched an incentivized testnet (ITN) for users to test the platform’s functionalities and provide feedback. The ITN is a critical phase of development for TeddySwap as it allows the team to identify and resolve any potential issues before launching the platform on the mainnet. Participants on the TeddySwap ITN have the opportunity to earn testnet tokens (TEDY) by contributing to the project’s growth, such as providing feedback, reporting bugs, and participating in liquidity provision. The TeddySwap ITN is an exciting opportunity for early adopters to engage with the platform and contribute to the growth of the project before it officially launches on the Cardano mainnet.
You can find out more information about the Teddy Swap ITN.