7 Tips to Earn Passive Income on Okexchain Defi CoralSwap Steps Ahead

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7 Tips to Earn Passive Income on Okexchain Defi CoralSwap Steps Ahead
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Tip 1: Choose a Trust-Worthy Decentralized Chain of an Exchange

Various exchanges have issued relevant policy support for developers. In addition to resources, financial support is the key. Previously, Binance Smart Chain BSC launched a $100 million support program, and Huobi  Heco launched a $200 million support program. The funding may exceed $200 million.

OKExchain uses AMM (automated market maker) mechanisms, OKExchain uses a hybrid “liquidity pool + order book” model, giving users more control over their assets and more freedom to manage their own.

According to OKEx’s design, after the introduction of the prediction machine in the future, leverage, sustainability, and other derivatives trading can also be placed on the DEX. OKEx has the leading advantage in the centralized derivatives exchange and can take the opportunity to enter DeFi and consolidate its dominant position.

Tip 2: Choose a Promising Defi Project with Fast-development and Better Deployment

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The production of Defi tokens in the early-bird phase is twice that of the official phase 1 and four times that of the official phase 2. So it is not difficult to indicate the new project launches could be the best timing to earn the profit by providing liquidity on the dex.

As a later public chain, OEC has not formed a monopoly on the head project on each track. Becoming a deployed product with the same phenomenal quality as the PancakeSwap on the BSC requires a well-deployed project with more creative and functional application on its road map. CoralSwap releases its road map on its GitHub with the introduction of liquidity minging, trading, NFT, Lucky draw, and gamefi. Also allows various ways of token burn when the features being functional.

Tip 3: Enter the Game at the Early Timing Ready to Explode 

The golden timing of entering a Defi project with a mining effort could be the days right after its launch. All the miners know that once in at the right timing it will definitely benefit your earn in a sure way to avoid being massive loss but gaining huge passive income without involved in the market risks.

The 1 to 10 days after the official launch also contribute almost double the income of token mined. It is very much predictable to have a better entrance at this phase that could make sure you be the winner.

Tips 4: Evaluate the Decentralization Mechanism of the Project

As the most core elements of a blockchain project are always its degree of decentralization. The previous method of strengthening the background of the central organization is not applicable in the Defi field. On the contrary, the stronger the central organization, the weaker the consensus of Defi is likely to be.

Development needs technical personnel and capital investment, so how to make the organization decentralized as far as possible on the premise of maintaining the necessary interests of the team, in order to make the early participants profit, but also make the later investors feel fair, this will be the premise of Defi consensus spontaneous expansion, but also its value rise.

Tips 5: Winning Out By the Core: Safe and Simple Smart Contract 

Smart contracts security of the contract code and the complexity of the schema will make or break the Defi project.

On Aug 15th, CoralSwap Announces its huge reward for the beta test, being fearless of the bug finders, shows its confidence of contract development by its global professional team. They have also announced their strategic collaboration with the Certik Audition board and other safety audition companies as a whole.

As a non-professional, it is difficult to judge whether the code has bugs, in the condition of frequent contract code errors in the past various projects, worrisome code errors caused by huge amounts of evidence, and a large number of OKT lock-up situations investors are more cautious than before.

Tips 6:Simple and Community-Benefited Token Allocation Model

The good token allocation model is also often involved in the following endeavors (taking CoralSwap’s token allocation model as an example:

  1. Taking care of public affairs
  2. Supporting public and private initiatives

C) Contributing to growing the community

D) Dealing with large corporate memberships that are a significant 

E) source of revenue

F) Planning events for the community and supporting a developer travel fund for events

The real decentralized smart contract development model should be as simple as possible, using the most basic economic principles and human nature to build a set of small loopholes in the token allocation model. CoralSwap is a typical one. YFI is a complex process with simple logic. Only an uncomplicated economic model can build the largest mass base.