RexDex, a recently-launched decentralized exchange built atop the Wanchain network, has introduced XRP farming pairs with annual percentage rates (APRs) up to 670%.
In the absence of a native XRP staking feature, several platforms have implemented programs that allow XRP investors to earn rewards on their holdings. The latest to introduce such an opportunity is RexDex, a newly-launched decentralized exchange.
Powered by the Wanchain network, RexDex aims to provide XRP investors the flexibility to earn rewards by engaging in its farming initiative through any of the newly-introduced XRP pools.
Small Arms Syndicate, the Wanchain-based NFT project behind RexDex, called public attention to the launch of the XRP pools in a recent tweet. The team behind the project called on investors to leverage the opportunity to optimize their gains.
🚀🌾 Get ready to harvest your crypto gains with RexDex’s latest farming pairs! Introducing wanXRP/REX, wanXRP/WWAN & wanXRP/USDT! Don’t miss out on the opportunity to maximize your earnings. 🚀🦖🚀 #CryptoFarmers #RexDex #Farming #Wanchain $WAN #Ripple $XRP pic.twitter.com/UN96De8ZWB
— Small Arms Syndicate (@SyndicateSmall) July 6, 2023
According to a snapshot the Small Arms Syndicate team shared, interested market participants must provide wrapped XRP tokens on the Wanchain network to seize the opportunity. The newly introduced farming pairs are WWAN/wanXRP, wanUSDT/wanXRP, and REX/wanXRP.
While the snapshot shows an average annual percentage rate (APR) of up to 324,333.93%, current data suggests this rate is now lower than projected. Notably, rates currently go as high as 670%.
RexDex’s XRP Farming Pools
The WWAN/wanXRP farming pair boasts an average APR of 278.28%, per data from the RexDex platform. The farming pool has a first year based multiplier rate of 128x with a pool rate of 6,876.3 REX per day. REX, the native token of RexDex, currently trades at $0.00042.
The wanUSDT/wanXRP pool presents a slightly lower APR of 238.35%, with its pool rate also standing at 6,876.3 REX per day. Total funds deposited in the pool currently amount to $438.8 due to its nascence.
The last XRP pair on the DeFi protocol is the REX/wanXRP pair. The pool boasts an impressive annual percentage rate of 670.79%. This represents the highest APR for any farming pool on RexDex as of press time. Pool rate goes as high as 20,629 REX a day.
Highlighting the launch of the XRP pairs, the Wanchain team stressed that the network and its ecosystem continue to support the XRP community. The team urged investors to take advantage of the recently-introduced pools.
Besides RexDex, other platforms have also presented an opportunity for investors to earn rewards on their XRP holdings. These include Bitrue, StaykX, and OKX. However, investors should always conduct proper research before committing to these programs.
Sourced from cryptonews.net.
