Deep Dive Into Pond0x (Part 2)

Now that you know about the origin and tokens of Pond0x, it’s time to discuss its Defi use cases and the functions that make it unique. These features include decentralized exchange, yield farming, and mining tools.

Pond0x

At the center of the ecosystem is the decentralized exchange (Dex). It’s a platform for trading crypto assets seamlessly without any middleman. Pond0x is essentially a peer-to-peer marketplace where smart contracts execute transactions between users.

On Pond0x, users can swap several ERC-20 tokens, including ETH, AAVE, and ARB. PEPE. Wrapped SOL, wBTC, Shiba Inu, and more. Besides the Swap function, Pond0x has a Bridge function for moving digital assets from one network to another.

All these functions are easy to use, and all that is required is for users to connect their wallets, select the cryptocurrencies they are swapping or bridging, and then execute the transaction.

Since the launch of Pond0x, it has executed over 300,000 swaps with a total volume of over $500 million, according to Dune Analytics. All these have happened in less than 200 days after launch, and the protocol records an average of $3.1 million in volume daily.

PONDWATER

Pond0x is about returning value to users, which is exactly what the PONDWATER function is about. It allows users to lock their PNDC token and earn wrapped ETH. This yield comes from gas fees on transactions on the Dex, other revenue of the protocol, and external protocol yields.

To participate in PONDWATER, users need to hold PNDC and are willing to lock it up for at least 7 days. It’s only after 7 days that the locked funds start streaming yield. The lockup period can be between 1 week and 49 weeks.

Once streaming starts, users can activate the vesting period for the yield by signing a transaction that deposits an NFT from Sablier into their wallet. The wETH will stream into the NFT, and they can withdraw.

Through this feature, some users have earned thousands in ETH as a reward, and it’s possible to check the leaderboard for the top 100 streams. Presently, 67.7 trillion PNDC is locked in the PONDWATER; this accounts for 73.4% of the circulating supply.

Mining

There are several ways to own a PNDC token. One such way is by mining it on Pond0x. Through the DeFi protocol, users can spend their ERC-20 token on mining PNDC. The mining interface is similar to Swap, but the mechanism is different.

First, mining only happens during the mining cycle, and if the cycle has ended, you must wait for the next. Also, users get half their ETH value in PORK while the other half goes to the project multi-sig address to mine PNDC.

The mining process is relatively easy. When the mining cycle is active, you must enter the amount of ERC-20 tokens you want to spend on mining and let the system work its magic. It’s even possible to use boosters to increase the amount of PNDC you can get from a mining transaction. Several boosters are available on Pond0x, with up to 6 boosters allowed for maximum boost.

Breed

Another unique use case on the Pond0x is Breed. Breeding occurs when there is enough mining activity for the test fine to reach 100%. Each breeding cycle lasts only 69 minutes, and users get PORK as a reward.

Users must approve the PNDC spending and PORK claim transactions to breed. They can find the current BreedManager and pre-approve the PNDC spending limit for the best results.

Conclusion

The innovative features of Pond0x provide users with several ways to generate yield, which has attracted more than 19k Unique Swappers!

However, Pond0x doesn’t stop at delivering automated ways to generate yield; the platform also periodically offers token claims and airdrop rewards. You can check their X account to stay updated on the latest rewards.