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9inch is a DEX built on PulseChain and Ethereum, standing on the shoulders of giants like Uniswap, Sushi, and Pancake Swap. It’s combining their code to provide the Pulsican community with innovative features, and community-driven governance to redefine the way users interact with digital assets. We delve into the world of 9inch to explore the platform, the problem it aims to solve, its goals, and the main functions that make it a powerhouse in the DeFi ecosystem.
What is the 9inch DEX?
The 9inch DEX is built on Ethereum and PulseChain that provides users with a seamless and secure environment to trade digital assets. It eliminates the need for intermediaries and grants users full control over their funds. With a mission to democratize finance and empower individuals, 9inch offers a wide range of features that facilitate efficient trading, active participation in the platform’s governance, and yield generation from activities like providing liquidity, farming, and staking.
9inch is in the testing phase and is currently running a sacrifice.
The sacrifice
On May 26, 9inch opened a sacrifice phase where users can send funds to the sacrifice address. Only certain tokens are eligible up for the sacrifice. The first sacrifice phase lasts 10 days and for each $0.85 you can get 10,000 Sacrifice Points + bonuses.
The second phase lasts for other 20 days where for each $1 you get 10,000 points.
All the sacrifice details can be found here.
Addressing the Problem
9inch solves lack of transparency, and susceptibility to hacks and it tries to provide more earning potential for investors and liquidity providers. 9inch aims to address these issues by providing a decentralized, low-fee, and secure platform that enables users to trade, stake, farm, and provide liquidity seamlessly.
The platform strives to offer the lowest fees on Ethereum and PulseChain, eliminating founder and developer fees to ensure that generated fees flow directly to liquidity providers and token burn mechanisms. By doing so, 9inch aims to create a sustainable and deflationary ecosystem that benefits its users and drives the value of its native tokens, 9INCH and BBC.
Fees comparison:
Uniswap: 0.3%
Sushi: 0.3%
PulseX: 0.29% (0.01% dev fees)
9inch: 0.29% (no dev fees)
The fees from all DEX activities go directly to liquidity providers and to buy and burn the 9INCH and Big Bonus Coin (BBC) tokens.
Exploring the main functions
Trading:
At the core of the 9inch platform is its efficient and user-friendly trading mechanism. Through its automated market maker (AMM) model, users can easily exchange assets without relying on traditional order books. The liquidity pools ensure continuous availability of assets, reducing slippage and enabling smooth transactions. The emphasis is on decentralized ownership and self-custody as well as on projects created mainly by the Pulsican community.
Token founders can apply to have their tokens listed on 9inch and encourage their community to stake, earn rewards, and benefit their projects.
Single asset staking:
9inch offers users the opportunity to stake their 9INCH tokens to earn BBC tokens as rewards. This single-asset staking mechanism allows users to passively earn income without the risk of impermanent loss.
With options for flexible and locked staking, users have the flexibility to choose their preferred staking period and optimize their earnings. Staking not only encourages token holders to actively participate in the ecosystem but also contributes to the overall scarcity and value appreciation of the 9INCH token.
Flexible staking without time constraints or penalties is something that many appreciate. Users also can choose to lock up their funds and even add up to their holdings. Locking the stake typically gives much higher APR than Flexible. Locking funds for 52 weeks gives 21X yield booster.
Navigate to the “Pools” tab on the website and select the 9INCH or other token pool for single asset staking.
Farming:
Yield farming has become a popular concept in DeFi, and 9inch has embraced it to provide users with additional earning opportunities. By providing liquidity to specific token pairs, users can “mine” BBC tokens alongside the transaction fees generated by the platform. Yield farming on 9inch offers attractive rewards and incentivizes users to actively participate in the ecosystem while benefiting from the high-yielding farming pools. The platform continuously optimizes and diversifies the available farming options to cater to different risk appetites and maximize user returns.
The holders of the 9INCH token are able to vote on which token pairs should get the most yield.
Providing Liquidity:
Liquidity provision lies at the heart of the 9inch platform, ensuring a vibrant and efficient marketplace. Users can become Liquidity Providers (LPs) by depositing their tokens into liquidity pools. In return, they receive LP tokens that represent their share of the pool. These LP tokens can be staked, transferred, or used in other DeFi protocols, allowing users to maximize their earnings while maintaining liquidity. By providing liquidity, users not only earn trading fees but also play a crucial role in maintaining stable and liquid markets.
Understanding 9INCH and BBC Tokens
The 9inch platform operates with two native tokens: 9INCH and BBC.
9INCH Token:
- 9INCH is the main utility token of the 9inch platform.
- It is deflationary, with a fixed supply that will be distributed after the Sacrifice Phase. No additional tokens can ever be minted.
- Holders of 9INCH tokens enjoy various benefits, including the ability to participate in high-yielding farming pools and voting on governance matters.
- The buy-and-burn mechanism is implemented, where 9INCH tokens are consistently bought by the DEX contract and burnt, boosting its price and potentially leading to value appreciation.
BBC Token:
- BBC is the reward token awarded to users providing liquidity and farming on 9inch.
- Holders of BBC tokens have exclusive access to the highest-yielding farming pools on the platform, dedicated to 9INCH and BBC pairings.
- The demand for BBC primarily stems from its high-yielding farming pools, enabling users to earn substantial yields compared to other tokens.
- The platform consistently buys BBC tokens and burns them, further bolstering its price and reinforcing token value.
Conclusion
The 9inch platform is an improvement on the existing DEXs. Through its trading, staking, farming, and liquidity provision functions, 9inch empowers users to actively participate in DeFi, earning attractive yields and shaping the platform’s governance. With its native tokens, 9INCH and BBC, 9inch incentivizes participation and drives value appreciation, creating a dynamic and sustainable ecosystem that benefits its growing community. The platform is currently on the Sepolia testnet and is going through two security audits.
