9inch is a brand new Decentralized Exchange(DEX) featured on both the Ethereum and PulseChain networks. It aims at a different demographic than your typical DEX like PulseX and aims at bringing adoption to both its platform and PulseChain. With a bit of comedy and a whole lot of yield, 9inch seems to have its course set for success in bringing both adoption and fun to crypto. From clients I work with to general sentiment on social media, everyone is having a blast messing around on this brand new platform. Let's break down everything you need to know about 9inch to maximize its use case.
Lets start with an overview:
9inch, is super similar to PulseX in many ways. It has Yield farming, a native token, and an incentive token, like PulseX has on Pulsechain. Where they differ though, is their target demographic, the "tokenomics", yield farming, single sided staking and how they are bonding liquidity. When PulseX launched and the Yield farms went live, the majority of the yield farms were focused around Pulse and only included PLSX in a few of the farms. This created a primary focus on Liquidity for PLS and a secondary focus on the other RH tokens like Hex, PulseX and Incentive.
Unfortunately for PLSX in this situation, was it kind of got left in the dust in terms of demand relative to Pulse. IF PLSX had the majority of farms include it as the main token, there would have been a greater demand which could have impacted price performance positively
Now, in terms of the ecosystem as a whole, I think this was the right play. Set up the Main token with the core of liquidity and when it rises, all tokens rise with it. This though, is where 9inch is able to play a different game.
9inch is completely separate and has no affiliation to the RH tokens other than the Devs/ founder being a part of the community. Because of this, they could use every trick in the book for the tokenomics ONLY for the DEX's native tokens, 9inch & BBC(Big Bonus Coin). This creates a completely different outlook for both 9inch and BBC tokens in terms of performance.
Yield farming on 9inch requires you to have 50% of a Liquidity Provider position to be in the native token 9inch. Every single farm requires you to buy 9inch to reap the massive APR's currently available. There are currently 6 farms on PulseChain & 5 Farms on Ethereum:
PLS or WETH(depending on which network you are on), BBC USDC, DAI, or USDT are the 5 options you can pair your 9inch with to earn yield with the 6th on PulseChain being a 9inch on Pulsechain and 9inch from Ethereum pair.
Why this is important, is that the 9inch token now has $7.5M in liquidity with PLS alone, so as PLS increases in price, 9inch is going to want to rise with it through liquidity bonding.
The correlation also works the opposite way too; If the 9inch token rises in price, it can impact the price of PLS positively.
9inch really got things right in terms of their tokenomics for their native tokens.
They gave a reason to buy #9inch through farming and single sided staking, they used the fees to reduce sell pressure, and they gave a reason to lock up tokens for up to a year all while pairing liquidity heavily to a token we all expect to do quite well. They've even optimized the Ethereum side to be significantly cheaper for gas fees than any other DEX. Sick, but we are far from being done with the overview. The 9inch Token
9INCH is the primary native token to the 9inch DEX and boasts a ton of use cases. 9INCH will be needed for high APR yield farms, single sided staking as well as for voting on future decisions for the DEX. Its exactly like PulseX is supposed to be... which is why I'm excited about it.
To earn the high APR currently in the 9inch farms on PulseChain and Ethereum, you have to pair one of the selected tokens with 9inch in a liquidity pool in a 50/50 split(in dollar terms - $500 in 9INCH and $500 in PLS). When you do this, you get a receipt for doing so called LP tokens. These tokens represent your share of the pool and the fees you are entitled to as an incentive for providing liquidity. Once you have received your LP tokens, you can then go stake them in the corresponding farm under the farms tab to start earning that sweet, sweet yield.
Now there are risks to yield farming, which you need to be aware of and I will do my best to summarize briefly. Due to the math behind liquidity pools, which is fairly complex to understand, there is a mathematical loss that can happen when the price of one of the tokens rises or falls in price relative to one another. For example: You provide liquidity for BBC/9INCH and 9INCH runs 50% in a day while BBC stays at its current price. Your total value of your position would have increased, however you would have slightly less profit than if you just held the tokens. This is why it is important to understand how much yield you are getting in a farm and how that may offset the likelihood of losses from a movement like this. I would highly recommend doing a little more research on this topic for your own comfort levels, but just know that when you are dealing with high APR percentages for yield, the likelihood of coming out at a loss is much, much lower. Clients I am working with right now are all up big time with no losses. Click here to get personalized guidance directly from me.
9inch also has the same 'secret sauce' as PulseX. This secret sauce is a buy and burn. 0.06% of all transactions from swaps on the DEX go towards a buy and burn of 9INCH. This acts as resistance to price going down, as even when users sell, the DEX is routing a small amount of all volume to buy 9INCH off the market. This is added buy pressure that also works when the price is going up or when volume on the DEX increases. It won't send 9INCH to the moon, but its kind of like increased aerodynamics for the journey.
Additionally to all of this, 9inch will feature Single Sided Staking for multiple tokens on Pulsechain and feature a time lock option that will boost rewards up to 21x. Single sided staking is a great option if yield farming sounds way too complex and you just want to earn yield in a more simple fashion. Single sided staking is not liquidity providing and because of that has none of the risks involved with doing so. Because of this, the APR is generally much lower but allows users to earn yield risk free. 9inch has also added a lock up on their pools which allows a user to lock up their tokens for up to 365 days and earn up to a 21x multiplier for all BBC tokens earned as yield.
Currently, there are single sided staking pools for both 9inch and BBC with future pools coming that are said by the founder to include both Hexes as well as PulseX.
Big Bonus Token (BBC)
BBC is similar to the Incentive token that can be earned on PulseX, however unlike INC, BBC has more use case, less sell pressure, and a buy and burn programmed into the trading fees on 9inch. To disassemble this and understand it better, let's begin with the "Use cases".
BBC will be required for specific Yield farms. Currently on both Ethereum and PulseChain there Farms with both 9inch and BBC that are currently yielding greater than 7000% yield.
If you don't believe me, here's a screenshot. Look at the bottom right farm on Ethereum:
Yield like this won't last forever, but for the time being it will help drive demand for BBC(and 9inch) which will prevent it from being a sell only token.
Additionally, BBC can be placed into a Single Sided Staking Pool that has virtually zero risk compared to liquidity providing and yield farming. Once BBC is placed into the Single Sided Staking pool, you can either choose a lock-up period which will give you up to a 21x multiplier on your rewards if you choose 365 days, or a flexible stake that allows you to remove your coins at any time with less yield. Thats a pretty big incentive to keep stacking BBC if you ask me.
Here's a quote from the official documentation of 9inch: "$BBC will be highly utilized on the DEX. Pairs with this token will enjoy the juiciest APYs, and owners of the token may find additional benefits as the platform evolves.". This points to future use cases in addition to what is currently on the DEX. I'm a fan.
Finally, BBC has a Buy and Burn feature that is built into the trading fees for any swaps using the 9inch DEX. This buy and burn takes 0.01% of the transaction cost. It then takes these fees and buys up BBC, which can then be burnt by the public under the "Burn" tab.
3 of my Strategies to maximize 9inch yield
1) In this first strategy, I could take all profits and roll them into the main token wanted wish to accumulate, like HEX, PLSX, or PLS for example. Think of this as a DCA money printer if you will.
2) Take any BBC earned from any yield farms, and 50/50 for 9INCH + the other token you need in the farm you are in. Add these new tokens to your liquidity position, then stake your new LP tokens to compound the amount of yield you will earn per day. This will likely have the greatest positive impact on the 9INCH/BBC farms due to only having to sell half of your rewards. This could be done once per day or any number of times per day or week you wish to do so or have the ability to.
3) Take any BBC earned from the Farms and place it into the Single Sided Staking Pool. This way, you are not hurting the price, and you are allowing yourself to accumulate a token that may have some extra use cases in the future. Also, the token it was modelled after did a 40x. Just saying.
To go play around on 9inch today, go to the link below:
Here is the link to get any of the contract addresses for 9inch on either PulseChain or Ethereum:
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