Nomiswap

Nomiswap Review

Pros

• Potentially free trades
• Lots of passive income opportunities
• No need to register
• Higher APR than any other popular DEXes
• Top-5  BSC DEX by TVL
• Top-40 by trade volume on CMC

Cons

• Limited token availability

About Nomiswap

Nomiswap is the decentralized exchange secured by Nominex. Being a decentralized exchange comes with lots of advantages, such as being available around the world, while being backed by such a big name means you will be able to farm NMX and be connected to larger liquidity pools. 

Bonuses and Pluses

Nomiswap comes with a few options for earning passive income. For example, you can stake the native NMX and earn one of the highest APRs in the market: 116% at this moment! 

Farming

Farming is the process of getting NMX reward for providing liquidity to trading pairs (in DEX its name is liquidity pools). NMX is the internal utility token for Nomiswap and Nominex. You can earn LP tokens by adding liquidity to a crypto pool. Then add them to a farm to begin farming.

Here are some examples of APRs from staked LP tokens with Nomiswap at this moment:

• NMX-USDT: 74%
• ETH-USDT: 27%
• BNB-BUSD: 28%

The more NMX tokens you farm, the more benefits you will receive, such as reduced trading fees. One of these benefits is the holder bonus. This bonus is distributed to all farmers daily and in proportion to their funds invested in staking. The longer you farm, the more they increase your bonus. 

• If you farm for 7 days or more, then the profitability from this bonus increases by 20%.
• If 15+ days - 50%
• If 30+ days - 100% (doubling the bonus)
• If 60+ days - triple the bonus
• If 90+ days - increase the profitability by 4 times
• If 180+ days - increase the profitability by 6 times
• If 360+ days - increase the profitability by 10 times

Referral Program

Nomiswap has a referral program that will allow you to earn continuous rewards. Copy your referral link and send it to your friends, and you can start earning from their activity on the platform. 

You will receive between 5% and 10% of the amount they farm, depending on your farming level and also between 10% and 20% of their trading expenses, depending on your farming level. These gains are distributed daily, rather than a one-off reward. 

You can also accumulate rewards based on the actions of the people in your ‘weak’ team. Each participant of the referral program is placed into a tree-like referral structure that has left and right branches also known as ‘teams’. The team with less value accumulated becomes the ‘weak’ team. You will earn 5-10% for both farming and trading, depending on your farming level.

Trading Fees

Nomiswap has a simple fee structure, which we appreciate. It is a flat 0.1% fee. However, you can get that reduced all the way down to 0% with their cashback programs. This depends on your farming level. A higher farming level can be obtained by putting funds into level up pools

• 🥉 VIP (1000 USD): 20% reduction
• 🥈 ELITE (5000 USD): 50% reduction
• 🥇 MAX (10,000 USD): 100% reduction

You will receive your cash back after each transaction.

Tokens Available

There are a little more than thirty available tokens on Nomiswap. They only support tokens that run on BEP20, the Binance Smart Chain. 

Who Can Sign Up Here?

Because it is a DEX, or a decentralized exchange, there are no geographical restrictions on who can sign up here. In fact, you do not even have to register with this DEX. You only have to connect your wallet to begin trading. 

Wallet

Nomiswap does not have its own wallet feature. Rather you will have to connect a third-party wallet to use this exchange. 

Here are the wallets Nomiswap currently supports: 

• Metamask
• WalletConnect
• Trust Wallet
• MathWallet
• TokenPocket
• Binance Chain
• SafePal
• Coin98

No NFT Market

There is no NFT marketplace at the moment on the Nomiswap DEX. You will have to look elsewhere if you want to buy, sell, or store non-fungible tokens. 

Security

This DEX does not require registration, and, therefore, does not have strict KYC (know your customer protocols) The main security features will come in the wallet that you attach to Nomiswap. 

That being said, they are supported by the Nominex ecosystem–one of the most trusted names in the crypto industry! They even passed with flying colors an audit from CertiK Security. CertiK uses formal verification and AI to monitor blockchain technology. They awarded Nomiswap an 80% in Security and an 88% in Market and Community.

No Nomiswap App

There is currently no Nomiswap app, but you can easily use the site from your mobile phone. Also, Nominex does have an app, if you wish to download and use it, as it is connected to Nomiswap. 

Who is Nomiswap for? 

Nomiswap is good for people who already have an account with Nominex or a crypto wallet. As a decentralized exchange, they have very low barriers to use and can offer very low fees.