The teams at Metis, Netswap, and RelayChain are thrilled to announce the availability of the RELAY token on Metis. RelayChain aims to be a major infrastructure partner on Metis, and this is the first step. You can now trade the RELAY token on Netswap with a variety of pairs, including:
NETT/RELAY
METIS/RELAY
USDC/RELAY
FTM/RELAY
AVAX/RELAY
MATIC/RELAY
In total, there will be close to $1M of total liquidity for RELAY pairs before incentives begin. This number is expected to grow once the LP farms are enabled. RELAY is now one of the most liquid tokens on Netswap, and you can bridge it in from multiple chains, including: Ethereum, Avalanche, Polygon, BSC, Moonriver and more. Users can also now bridge in/out with FTM/AVAX/MATIC, by trading through the RELAY pairs.
There will also be a single stake pool to stake NETT and earn Relay. This will begin on Feb 4th 15:00 UTC. LPfarm incentives will begin approximately one week from today, pending volume requirements.
Single sided staking of Relay will also be enabled this week. Traders will be able to buy RELAY or earn it from NETT staking, and stake it on the Relaychain bridge app to earn more METIS!
Netswap is a decentralized exchange (DEX) which runs on Metis Andromeda (Layer2). As the leading DEX on the network, Netswap has already achieved an impressive peak TVL of $260 Million. The platform will include a DEX, Farms, single staking pools, and an IDO launchpad. Netswap is a community-driven DEX. The native governance token, NETT, enables the community to drive the development of the product in full. Netswap features a 100% community-focused token distribution model, meaning that all tokens are distributed directly to the community, without any allocations to team, advisors, investors, or insiders.
RelayChain enables fast, secure and low cost cross-chain token transfers between the worlds leading blockchains. The platform offers Bridging as a Service (BaaS) to partner networks and dApps wishing to expand their footprint beyond a single chain. RelayChain currently supports bridges between any combination of Metis, Moonbeam, Cronos, Harmony, Moonriver, Metis, IoTeX, Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, MultiVAC, Shiden and HECO. Multiple popular networks will be added in the near future. A unique feature of RelayChain is that once a token exists on our platform, it can be bridged to any other EVM in our list of networks. This can be done in one step without need to return to the parent chain first. This represents a major feature of speed and convenience for all of the users. The RELAY token holds high utility as it will be used to reward stakers with a share of the native gas tokens collected from bridging fees. It’s a deflationary token; the more transactions that occur, the more RELAY is bought back and burned. RelayChain can quickly enable any project’s tokens to be bridged at no cost to the project.