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Singapore, Singapore, 7 Aug 2022, Chainwire
DeFi chainis the world’s leading blockchain on the Bitcoin network dedicated to providing decentralized financial applications and services for everyone, whose community has transformed Uniswap’s native DFI token pair into the ERC-20 format. We are pleased to announce that we have voted to provide profitable liquidity mining rewards forof suggestion The DeFiChain principal investigator’s submission received over 96% positive votes.
DeFiChain has allocated 1 million DFI tokens from community funds to encourage liquidity mining of DFI-ETH, DFI-USDT and new DFI-USDC pairs on Uniswap.
The Community Fund receives a small percentage of block rewards and has accumulated over 27,092,291 DFI tokens, available to anyone interested in developing on the DeFiChain blockchain. However, the funds will only be released if more than 51% of his nodes agree to the proposal. Masternodes are eligible to sign messages agreeing or rejecting the proposal.
With major exchanges such as Bybit and KuCoin now supporting DFI on ERC-20, the DeFiChain community has voted to increase the token’s utility in the ERC-20 format. The incentive aims to increase DFI’s ERC-20 format trading volume and increase DFI’s visibility and recognition in the wider DeFi ecosystem. Increased trading volume should also drive adoption of DFI by other exchanges and services.
DeFiChain Accelerator CEO Santiago Sabatel said:The adoption of DeFiChain has increased significantly due to new liquidity pools and various upcoming projects that increase the usefulness of DFIs in the ERC-20. We will open the gates to offer cryptographic assets to the entire DeFi community on the Ethereum blockchain, which will bring in massive capital inflows, delight DeFiChain investors, and create new use cases for Ethereum users. .“
Liquidity mining rewards are distributed in the following way:
In total, one DFI token will be distributed per Ethereum block. Similar to his DFI emission rate on the DeFiChain mainnet, block rewards are expected to decrease by 4% (per block) every 7 days starting at 9am UTC on August 22nd. Prior to that, rewards will only be distributed at a fixed rate of 1% above. rate. It is estimated that the reward can be maintained for over a year.
Smart contracts will be published on the Ethereum mainnet and rewards will be paid out according to a schedule. When the smart contract is issued, the DFI is placed in the smart contract in a tranche for security reasons.
Ann Accompanying Decentralized App Initiated for liquidity providers to participate in the liquidity mining program.
DeFiChain is a decentralized proof-of-stake blockchain created as a hard fork of the Bitcoin network to enable advanced DeFi applications. We are dedicated to enabling fast, intelligent and transparent decentralized financial services. DeFiChain offers liquidity mining, staking, decentralized assets and decentralized loans. The DeFiChain Foundation’s mission is to bring DeFi to the Bitcoin ecosystem.
contact address
Benjamin Rauch [emailprotected]
