Review on LOOPREX by Stephen Toluwani
Looprex as a liquidity mining pool for Yield Farm tokens
Who said trading could be worth making a few coins. With Looprex, a model of trading while mining is implemented into the contracts which is being deployed on its decentralized exchange thereby providing every Trader a particular number of loop tokens for the trades they execute on the platform. This is quite incentivizing to the community as the utility of the loop token goes beyond mining needs to spend but also helps to increase the incentives Liquidity provider gets to earn from staking and stacking up the loop tokens into his LP funds. With the trading fees charged on this decentralized exchange being flexible and floating people get to pay fees as low as 0.08% to as high as 1% depending on the number of loop tokens to be mined by the Trader so this is a win-win situation because you pay more and you earn more at the very same time. Considering the community support of many yield Farm projects like yearn finance and bot finance among others, you can actually say that liquidity on this exchange is not a problem and so makes it very possible for use. The project though is faced with the issue of no response from CoinMarketCap as it's featured with an untracked listing snippet on the most used price aggregator platform.
Pros
- Looprex engages trading activities as mining in which every trade that occurs here earns the trader a Loop token
- Incentives to the Liquidity Providers at the tune of 0.5% of each trade that happens on the Dex
- Floating trade fees are what's charged by Looprex instead of a fixed fee
Cons
- Untracked listing banner on CoinMarketCap
