What is Snowswap?

SnowSwap is a decentralized exchange for the yield-bearing LP tokens of the top DeFi projects. It’s based on Curve’s AMM model and allows users to easily enter and exit yearn.finance’s yVaults and other yield-bearing tokens for only the cost of a swap fee. Increasing liquidity for similar yield-bearing tokens makes it easier for users to speculate on their yield or performance. In general, providing liquidity to SnowSwap’s pools provides a simpler and more cost effective way to gain exposure to a basket of yield-bearing assets with the added benefit of receiving a portion of swap fees. When a user provides liquidity to the SnowSwap pools, they receive a SnowSwap LP token depending on the pool. Liquidity providers can stake these LP tokens to earn additional yield in the form of SNOW, SnowSwap’s governance token. 80% of the total SNOW tokens will be distributed to SnowSwap liquidity providers via liquidity mining rewards designed to bootstrap liquidity as well as the SnowSwap community

How to use Snowswap?

Users can access SnowSwap to swap between yield-bearing tokens or provide liquidity to the SnowSwap pools to earn swap fees and SNOW rewards for staking the SnowSwap LP tokens.