Liquidity mining update: 1inch announces stage 2 of liquidity mining program
To offer an additional reward to our invaluable community, we are launching stage 2 of our liquidity mining program, in which an extra 1% of the 1INCH token supply will be distributed among liquidity providers.
Following the launch of our liquidity mining program back in August, we have received extensive and valuable feedback from the 1inch community. Based on that feedback, we are now unveiling the second stage of our liquidity mining program, aimed at further incentivizing early providers of liquidity to four selected Mooniswap pools.
Under stage 2, 1inch will distribute an additional 1% of the 1INCH token supply among users upon the issue of the token. Rewards will apply to liquidity providers to the following pools:
“To ensure maximal transparency of the awarding process, we are working on a dashboard that will display the precise amounts of awards earned by each user,” says Sergej Kunz, co-founder of 1inch Network. “This feature will arrive once the 1INCH token has been released, and we’ll let you know as soon as it is active.”
How it works
All users who will provide liquidity to the above pools before the release of the 1INCH token, will collect rewards once the token has been released. There will be no vesting schedule for either stage 1 or 2.
Liquidity providers will earn an amount of 1INCH tokens, based on the amount of time and the size of their contribution to the pool. The exact formula can be seen here:
Stage 2 of the liquidity mining program will be launched on November 18, 4 pm UTC.
Earlier liquidity mining program incentives still in place
The launch of the liquidity mining program’s second stage will have no impact on the first stage, launched back in August. Users are still entitled to awards under stage 1. Those awards have been active since Mooniswap’s launch on August 10, 2020, and are 2% of the 1INCH total token supply for providing liquidity to 40 pools.
We thank our community for their precious feedback and insights. The 1inch team strives to support our important and involved community. We’ll offer more incentive programs for you soon. So, stay tuned!
*Disclaimer: 1INCH token holders are users that interface with the protocol and are committed to its future development. These users will maintain a sense of responsibility and will belong to the 1inch community.
Users will only be able to transfer 1INCH tokens from their wallets for ecosystem purposes, we DO NOT influence the development of a secondary market for 1INCH tokens.
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