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Meshswap is a unique autonomous finance protocol that provides various revenue generation opportunities such as Swap, Lend, Leverage farm, and Stake on a Polygon network that is not possible in traditional finance. Meshswap has a structure that combines the AMM (Automated Market Maker) DEX. The protocol token is MESH. The automatic inflationary MESH token is distributed to MESH stakers. 50% of the swap transaction fee is used for MESH Buyback & Burn, and the remaining 50% is distributed to Liquidity providers and Pool voters as a reward. Lenders can easily and safely earn interest and $MESH rewards by depositing their assets into lending pools in Meshswap. Liquidity providers who provide pair of two coins in a farming pool in exchange for yields and borrowers who borrow assets from the lending pool to take leverage in leverage farms to earn transaction fees and higher yields. Staking users who lock up MESH for a certain period in exchange for MESH rewards and Liquidity pool voting rights (vMESH). Meshswap is Autonomous Finance Protocol started with KLAYswap, the largest AMM DEX on the Klaytn chain. Meshswap is intergrated with Orbit Bridge, a main cross-chain bridge with more than $700M in total value locked. Assets deposited into wallets via Orbit bridge (Orbit equivalent tokens): oETH, oMATIC, oUSDC, oUSDT, oDAI (Polygon network). You can buy MATIC from centralized exchange such as Robinhood and send it via Polygon network with lowest fees and moved into your Web wallet such as Metamask, COINBASE wallet, Portis, Formatic, and Huobi wallets. MESH Staker can obtain additional token airdrop rewards from various projects on the Polygon network through the Drops, Ecopot platform.
Meshswap Wallet
Next, I will show you wallet section, where you can see different tokens and their wrapped or pegged tokens' prices in dollars. For example Matic has Wrapped Matic (WMATIC), Orbit MATIC (oMATIC), and MaticX. Wrapped Ethereum (WETH) and Orbit ETH (oETH). USDC and Orbit USDC (oUSDC). USDT and Orbit USDT ( oUSDT). DAI vs Orbit Dai. Wrapped Bitcoin (WBTC) vs Orbit Wrapped Bitcoin (oWBTC). Always keep an eye for wrapped or token price vs original token in dollars. Not bluechip tokens like Ethereum but other tokens can easily depegged. Be careful when picking non bluechip tokens as liquid pairs.
Meshswap Direct Deposit of XRP Tokens
Next, I will show you how to deposit XRP tokens directly from a Centralized Exchange directly into METAMASK wallet on Polygon network. Meshswap provides an XRP-only personal deposit address that allows users to easily and quickly transfer XRP directly to their personal wallets without bridges. This deposited XRP is called oXRP on polygon network.
Please deposit a small amount of asset as a test prior to depositing the full amount.
• Bridge fees will automatically be deducted from the deposited amount.
• Personal deposit address is displayed after address generation transaction is completed, and may take some time depending on network conditions.
OrbitBridge Bridge Tokens from Other Chains into Polygon Network
You can use OrbitBrige to bridge tokens from Ethereum, Orbit, Klaytn, BNB, Avalaunche, Celo, Fantom, Gnosis, HECO, ICON, and OKC,networks into Polygon network to use on Meshswap.
Go to bridge.orbitchain.io to bridge assests in to Polygon network. Ethereum-based assets and assets from various blockchains such as XRP, KLAY, and KSP, can be transferred to Polygon. The oETH, oMATIC, oUSDC, oUSDT, oDAI bridged via Orbit bridge can move freely between networks at an equivalent token value.
Following Ethereum network assests ETH, MATIC, USDC, USDT,and DAI deposited becomes in Polygon network wallets via Orbit bridge: oETH, oMATIC, oUSDC, oUSDT, and oDAI. When sending assets to a personal wallet, please make sure that the exchange supports withdrawals to the network. When depositing and withdrawing assets that are not supported by the network, it is treated as an incorrect deposit and withdrawal and cannot be recovered.
Meshswap Non Leverage Yield Farms
Meshswap support Web2.0 wallet like Metamask, Wallet Connect, Coinbase Wallet, Portis, and Fortmatic for desktop and Mobile wallet. It also support follwoing Mobile only wallets from Huobi Wallet, D'CENT, and O3 Cross-chain wallet. Make sure you select Polygon network. I will provide a detail link to Metamask wallet setup if you have not setup one below. Meshswap's yield farms are non leveraged. You are not risk of getting liquidated. These are two sided liquid providers. I would recommend if you want to hold ETH and MATIC for the long term, provide liquidity to WETH-oETH, WMATIC-oMATIC, or WETH-WBTC. You can provide liquidy for Stablecoins such as USDC-oUSDC, oUSDC-oUSDT, USDT-oUSDT, USDT-DAI,oUSDC-oDAI.
Meshswap Leverage Liquid Farms
Currently total APR is 41% where MESH APR is 11.93. WMATIC borrow APR is -45.79% and MaticX Borrow APR is -25.70%. SD Airdrop is 100.76%. I am at 6x leverage. I initially deposited 3.99 WMATIC and 3.87 MATICX. The WMATIC and MATICX ratio is not 1:1 because 1 MATIC is like 0.97 MATICX on Meshswap1 MATIC ? 0.969304 MaticX ($0.7652) . If my leverage assests are returned when debt ratio exceeds 92%. Currently it is at 83.33% with 6x leverage. I leveraged 19.9 WMATIC and 19.36 MATICX at total worth of $30.69. Total assets worth is $36.82 with includig my 3.99 WMATIC and 3.887 MATICX. If you choose 1.0x, assets currently in your possession will only get deposited. I chose 6x leverage for maximum APR with some risks. Please check the debt ratio. (When it exceeds 92% asset will automatically be returned.)
Here are the Basic APR listed by Meshswap:
1. MESH APR (%)
Lenders receive an amount of MESH determined by their respective deposit share ratio from the amount of daily MESH pool distribution.
2. Borrow APR(%)
This indicates annual interest rates, and actual rate of return depends on the volume of deposited asset, Plus muliplier, and type of asset about to be utilized.
3. Airdrop APR(%)
This is an additional yield rewarded to those providing liquidity to the pool, and will be distributed according to the ratio of pool share.
The debt rate refers to the ratio of the amount of assets utilized to the total assets deposited. Leverage farmers should always be careful not to exceed 85% of asset utilization for safe asset management. Debt ratio can be affected in the event of volatile price fluctuations of assets, your asset would be auto-returned if the ratio exceeds 85%.
To prevent auto-return, you either lower the debt ratio by depositing assets with a low leverage multiplier or manually return your asset by withdrawing your asset in withdrawal tap. Upon automatic return, the assets currently being utilized by my assets are returned first, excluding the automatic return fee (20%) from the remaining assets, and the user can directly receive the assets
The automatic return fee (20%) is used as a safety fund for returning lending pool assets that have not yet been returned due to rapid price fluctuations.
Risk and Rewards in Meshswap
I like the fact that Meshswap supports leverage Farms. The risk with leverage farms is like in my case for WMATIC-MATICX if debt ratio is more than 92%. Normally it is only 85% you risk liquidation. If you want to play safe, reduce your leverage position. I am leverage at 6.2x. I would reduce it to 5x. As you can see when I am trying to withdraw I am getting 0.9 Strader token (SD token) and 0.2 MESH swap (MESH token) as rewards. As usual I have to pay 1% slippage for withdrawal. I like the fact in Meshswap, I can invest in invest in two side same token such as on WETH-oETH, WMATIC-oMATIC, or even blue chip tokens like WETH-WBTC to allow my ETH, MATIC or BTC grow over time.
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