The Bancor protocol announced the launch of dual rewards on $ACRE $CROWN and $DAPP liquidity pools, committing up to $50k in BNT match to the pools rewards with a 24 months emission.
At Glance
● Bancor protocol will now reward liquidity providers of $ACRE, $CROWN, and $DAPP in BNT.
● Following a proposal to incentivize users to migrate to Bancor 3(v3), Liquidity mining is matched up to $50k(max) in BNT to projects that commit to deploying LM rewards in their token by the end of August.
● 6,150,000 bnACRE, 3,749,604 bnCROWN, and 29,997,350 bnDAPP are liquidity mining incentives to be distributed to LPs with up to $50k in BNT each pool.
● Bancor is a DeFi protocol popularly known for its Single-Sided Liquidity models which allow users to earn incentives for their assets in the simplest manner of operation possible.
On September 19, 2022, Bancor announced the deployment of liquidity mining rewards to 3 pools on the protocol namely: $ACRE, $CROWN, and $DAPP.
With up to $50k in BNT to be disbursed over a period of 24 months to each of the aforementioned pools, liquidity providers are not only incentivized in project tokens but also in the protocol's cryptocurrency.
Recent coverage on Liquidity Mining (LM) rewards has the Bancor protocol believing that this creates a sustainable atmosphere for LPs following the proven records of the event.
Matching liquidity rewards with BNT rewards reduces the amount of BNT needed for liquidity mining compared to Bancor v2.1. The protocol's nature of investment products makes it appealing to investors as the fears of impermanent losses in DeFi are eradicated.
At the time of writing, $50k in BNT is 113,636 approximately, at an average price of $0.44. This means that up to over 300k BNT will be distributed over 24 months to liquidity providers on $ACRE, $CROWN, and $DAPP pools.
As per individual token rewards, 6,150,000 bnACRE, 3,749,604 bnCROWN, and 29,997,350 bnDAPP will be distributed to liquidity providers in a distribution model dependent on individual project decisions.
Disclaimer: The content on this page and all pages of Icoverage.io are presented for informational purposes only and should not be considered finance or legal advice.
This page may contain affiliate promotions, see our affiliate disclosure to learn more.
