MetalSwap

<blockquote>Originally written on <a href="https://metalswap.me/RplM" rel="noopener noreferrer nofollow">MetalSwap’s Official Blog: MetalSwap Release - Recall Pool</a></blockquote>Following a fruitful testing phase that saw the creation of 6 different Recall Pools in the Mumbai testnet, with a total sum of slots filled by users exceeding 360, the team is proud to announce the official release of this new feature within the dApp.Throughout this article, we will explain everything there is to know about MetalSwap&#39;s brand new Recall Pool!<h2 id="header-0">Brand New Feature</h2>As already explained in the <a href="https://metalswap.me/recpt" rel="noopener noreferrer nofollow">announcement article</a> of the testnet phase, the Recall Pool aims to allow XMT tokens dispersed across various secondary blockchains like Polygon and BNB chain to return to the main Ethereum blockchain, which is the only one where these tokens have voting power within the DAO.The problem with this operation is that it can involve very high transaction costs, especially for users moving small capitals, and for this very reason, this new pool has been released.The idea behind it is to merge the XMTs of many users and complete a single transaction on the ETH mainnet, which will result in extremely low transaction costs compared to the same operation completed individually.<h2 id="header-1">Benefits of the Recall Pool</h2>The Recall Pool has now been released within the BNB Chain, but it is not excluded that it could also be released on other layer 2 blockchains where XMT was deployed.As mentioned, the main goal of this new feature is to bring XMT back to the mainnet so that they can participate in the governance of the project.Another advantage is that it limits the use of the bridge solution, which is relatively less secure and more costly for users.Moreover, anyone participating in the Recall Pool will have an incentive as stacking rewards are foreseen for the period in which these funds will be locked for transfer.The integration of this feature also allows the developers to test and use features like Chainlink Automation and the CCPI protocol that will surely be useful for new features in the future.<h2 id="header-2">How to participate</h2>As we mentioned, the Recall Pool will initially be available within the BNB chain, meaning it will facilitate the movement of XMT tokens from this blockchain to the Ethereum mainnet.As a first step, it will be necessary to access the dApp and select the BNB chain as the reference blockchain.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9c7a013d61854f65956dba3cf7550f4a.png" /><a href="https://app.metalswap.finance/#/recall-pool" rel="noopener noreferrer nofollow">https://app.metalswap.finance/#/recall-pool</a>Once landed on the BNB chain, simply go to the Pool section and select the new Recall Pool.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0977a0263ba74d688880376813b181e3.png" />After reaching the Recall Pool, it will be necessary to deposit the required amount into one of the 20 available slots, and the job is done!<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f665b91ea72d45a7b6d6d099d887bdb1.png" />Once the slots are filled, the Recall Pool will do its work and the user will find their XMT directly on the ETH blockchain, without having to perform any claim operation.The Recall Pool will have an expiration date by which the operation will be performed, but if all slots are filled early then this operation will be completed before the time deadline.<h2 id="header-3">Conclusion</h2>The Recall Pool is a feature that facilitates the bridge-back operation of XMT tokens on the Ethereum blockchain, which will increase the number of tokens participating in the governance process of this dApp.Besides being an excellent opportunity to spend very few fees, the Recall Pool it’s also a chance to accumulate some extra XMT tokens derived from staking rewards-The DeFi Foundation<h2 id="header-4">✎ What is MetalSwap?</h2>MetalSwap is a decentralized platform that brings Hedging Contracts on financial markets with the aim of providing coverage to those who work with digital asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.With <a href="https://app.metalswap.finance/" rel="noopener noreferrer nofollow">MetalSwap</a> we enable Hedging Contracts on the DeFi field, AMM style.

METALSWAP RELEASE - RECALL POOL

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MetalSwap

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