Tropical Finance Decentralized Exchange Review

Tropical Finance is an ultra-modern and yield farming DEX with distinctive features found on the SmartBCH Chain. The platform was launched in December 2021, and promises to provide investors with novel ways to optimize APRs. As such, it aims at offering high APRs with the least number of risks and becoming one of the steadiest and most trustworthy platforms on the SmartBCH Network. 

Tropical Finance overview

These are the key features of the DEX:

• Community driven

Developers and team members focus on meeting the needs of the trading community. They provide support and engage in actions such as burns, airdrops, and buybacks to maintain the ecosystem. 

• Token usecases

The DEX will provide many usecases (such as Bridge, NFTs, and Launchpad) through its native token (DAIQUIRI) in the near future.

• Developer’s tokens fair usage

All the tokens that developers earn from deposit fees are utilized to purchase back and burn DAIQUIRI. 

• Deflationary model

According to the vendor, DAIQUIRI is a deflationary token. This means that it decreases in supply over time. So, the model is maintained through several mechanics, such as periodic token burns, dynamic token emission rates, antiwhale system, and buybacks. 

• Dynamic emission rates

The team plans to decrease emission rates with time so as to slow down the circulating supply increase with time and reduce the volatility of APRs by following the price. 

How does Tropical Finance work?

You can perform the following functions with Tropical Finance:

• Farming
• Staking tokens to earn rewards in DAIQUIRI
• Creating liquidity pools

The vendor is also working on developing additional features that will enable the user to conduct additional functions like:

• NFT staking
• Bridging and fundraising tokens
• Selling and buying NFTs through the NFT marketplace
• Engaging in the lottery by guessing the lucky numbers and earning rewards
• Staking DAIQUIRI to earn non-native tokens

What can you buy on Tropical Finance?

These are the assets you can buy on the platform: 

• BitcoinCash (BCH)
• BlockPad (BPAD)
• Colony CLY
• DAIQUIRI
• DAO
• FATCAT
• FLEXUSD
• LAW
• Wrapped BitcoinCash (WBCH)

Is Tropical Finance safe?

Broadly speaking, Tropical Finance is safe. Since users do not transfer their crypto/tokens to third parties, the risk of the DEX being hacked is low. The DEX’s smart contracts have also been audited, and the results show that they don’t have any security issues. 

Tropical Finance fees, compatible wallets, and transactions

Tropical Finance is compatible with many wallets, including Metamask, TrustWallet, MathWallet, TokenPocket, WalletConnect, Binance Chain Wallet, and SafePal Wallet. These are the fees that traders may incur on the platform: deposit fees, trading fees, and fee address.

What are the ways to trade on Tropical Finance?

There are several ways to trade on this platform:

• Farming

This entails staking or lending your tokens/coins to receive rewards, which are usually in the form of interest or transaction fees. As per the vendor, the farms seek to optimize annual percentage returns (APRs) on which LP tokens are staked to earn rewards in DAIQUIRI.

• Single staking

You can earn rewards by putting your cryptos/tokens to work. By creating pools on the DEX, you can maximize APRs by staking both native and non-native tokens (single tokens) to earn DAIQUIRI without any impermanent loss. 

• Exchange tokens/coins

The platform provides an effortless way to trade or swap one SEP-20 token for another through automated liquidity pools. 

Customer support

The vendor doesn’t offer any customer support options. If you want to make inquiries about the service, then you may need to visit the company’s twitter page or Telegram channel. These might provide your best chance to get answers to some of your questions. 

Should you trade with Tropical Finance?