Nowadays, it has become very popular to farm cryptocurrency tokens since they are the integral part of DeFi ecosystem. There are multiple ways to get passive income thanks to digital currencies, but yield farming or so-called liquidity mining remains one of the top solutions for generating income. People who have tried this way of getting passive earnings know that you should access a definite platform like Uniswap or SushiSwap to invest and get dividends. However, a group of crypto enthusiasts from different corners of the world decided to launch an innovative liquidity mining website known as Rivemont. It is going to leave all the closest competitors behind due to many new features and staking opportunities, but what exactly makes it special?
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Look: this article explains what RiveMont is, how it works, and what benefits it offers to crypto holders.
What is RiveMont?
RiveMont is a yield farming platform or new swap protocol that also offers staking opportunities to its users. RiveMont was created as an advanced alternative to SushiSwap and Uniswap, since it allows earning funds not only through liquidity mining but also when you stake a native RiveMont’s token called RVMT.
RiveMont was launched with the goal to become the best multi-chain yield farming platform that covers Ethereum, Tron, and Binance Smart Chain via its various forks. It aims at providing crypto holders with an opportunity to earn on incentives, high APYs (Annual Percentage Yields), and get passive income through seamless token distribution layers.
What is yield farming?
Yield Farming is a way to generate rewards with the help of cryptocurrency holdings also known as liquidity mining. If to explain this definition in a simple manner, users lock a certain amount of their coins and get rewards for that. Liquidity mining is often compared with staking. Though these processes work differently, both of them bring about rewards to users.
Yield farming is performed by liquidity providers who add their coins to liquidity pools which are smart contracts containing funds in fact. A crypto holder who deposited tokens in this pool receives rewards for that and this is exactly how you can earn through this process. Coins deposited to the pool create a marketplace to lend, borrow, or exchange tokens and paying a respective fee for these services. This fee is used for paying out rewards to liquidity providers. It is worth mentioning that ERC-20 tokens are predominantly used in yield farming and rewards are paid out in this type of tokens too.
What should crypto users know about RiveMont? This swap protocol has a number of features:
- RVMT staking;
- Being a community-governed and multi-chain platform;
- Allows participating in the platform governance;
- No seed investment, founder’s fees, or pre-mine;
- Multi-step implementation procedure;
- Earnings are received in RVMT tokens;
The amount received from staking depends on the amount of LP tokens you had staked versus the total amount of LP tokens staked.
RVMT Governance ICO token
RiveMont has created its native token called RVMT to pay out rewards for staking and enable stakeholders to govern the policies and fees on the newly created platform. They receive the right to vote on the policy including:
- Choice of autonomous market makers to back with liquidity from the liquidity pool;
- New markets creation;
- Amount of exchange fees;
- The percentage of the spread going to the pool;
- The buyback and borrowing rates from the liquidity pool.
RVMT governance tokens are minted at a linear rate and given to liquidity providers in proportion to the amount of liquidity supplied to the central pool. A proportion of market-making fees is used to buy back and ultimately burn RVMT tokens, decreasing supply.
The initial RVMT supply is 100,000 tokens, while the maximum supply is unlimited. This is an Ethereum-based token and its current price is 0.001 ETH.
RiveMont farm has a unique concept that allows getting rewards even in a static pool. Crypto holders can benefit from three processes:
- Yield farming that gives native RVMT tokens due to the use of tokens possessed by liquidity providers.
- Swap platform to trade pairs of two tokens.
- Governance token to vote decisions in the community.
Liquidity providers receive a percentage of the trading fee and can participate in the community farm. Farmers get RVMT tokens for staking liquidity provider’s tokens and for holding tokens in the wallet.
How to buy RVMT token
RiveMont has launched a presale and any person can buy RVMT tokens for Ethereum. There are two ways to do that.
Metamask users can do that by clicking on the MetaMask Extension and connecting a MetaMask wallet with a responsive web page. When you do that, it is necessary to enter the Ethereum amount to invest and confirm the transaction. The last stage is adding RVMT tokens to the wallet.
Trust Wallet & MEW wallet users should follow a little different procedure. It is necessary to send Ethereum the RiveMont Presale contract address but only from a non-custody wallet. You will receive RVMT tokens to your wallet automatically. The final stage is adding new tokens to your wallet.
Why join RiveMont?
There are several reasons to become a liquidity provider on RiveMont. The most important of them is the possibility to earn interest on a regular basis not only from yield farming but also staking. Another great benefit of using this platform is an opportunity to become a community member and influence the decisions made by the development team participating in voting. Users should also remember that RiveMont is a new project that is constantly evolving, so crypto holders can count to get access to new features and improved algorithm functionality too.
RiveMont roadmap is not very long since the project is being developed by the community and has just started a token presale. However, it is worth mentioning that the first stages of the platform roadmap were the invention of the idea, selection, and preparation for the development. When the team has completed all the preliminary steps, they launched the RVMT token and added it to the exchange listings including top volume ones.
RiveMont is an innovative swap protocol that has combined the best features of other yield mining platforms and provided crypto holders with an opportunity to earn not only on liquidity mining but also staking. It can become a competitor for such popular swap protocols as Uniswap and attract a lot of investors due to the guarantee of rewards and the simplicity of getting extra income.