Switcheo decentralized exchange Demex extends liquidity rewards for 6 months

2021-3-15 19:45

CryptoNinjas » Switcheo decentralized exchange Demex extends liquidity rewards for 6 months

Demex, a decentralized exchange platform recently launched by Switcheo, announced it is extending its liquidity rewards on the exchange for an additional 6 months. On Thursday, March, 11th, the on-chain proposal submitted by Switcheo core devs (with suggestions and feedback from the community) to keep rewards going on Demex was passed.

The liquidity mining program was first launched on Demex as part of the Switcheo TradeHub v1.9.0 upgrade that activated liquidity pools and AMMs on the protocol. The intent was to incentivize liquidity contribution with robust yields in the initial bootstrapping period for Demex’s novel AMM-simulated order book exchange model.

Why Extend Liquidity Rewards

Liquidity rewards are being extended mainly to incentivize liquidity for new markets that are being added on Demex. This will ensure that the order books for newly-added markets are sufficiently liquid to support trading on the platform.

In line with the decommissioning of Switcheo Exchange, popular markets with high trading volumes are being migrated over to Demex so users can continue trading their favorite tokens at a low cost. Ensuring these markets are sufficiently liquid for trading is essential in creating a seamless user transition from Switcheo Exchange to Demex.

The markets being added along with their corresponding reward weights are as follows:

nNEO-50-ETH-50 (1x) nNEO-50-nGAS-50 (1x) nNEX-50-nNEO-50 (NEP-5 variant of NEX, pending custom lockproxy contract (1x))

As part of Switcheo’s partnership with Poly Network, a Binance Smart Chain integration has been in the works for the past couple of weeks to facilitate cross-chain trading between BSC and Switcheo TradeHub.

Upon completion of the integration, BEP-20 token pairs along with their corresponding liquidity pools can then be added to Demex. By incentivizing these new LPs with rewards, the Switcheo team hopes to be able to better attract and onboard new users onto Switcheo TradeHub.

Coming soon with Switcheo TradeHub v1.15.0 software upgrade:

nNEO-50-BUSD-50 (1x) CEL-50-BUSD-50 (1x) SWTH-50-BUSD-50 (2x) WBTC-50-BTCB-50 (1x) BUSD-50-USDC-50 (1x)

The liquidity reward extension will also include a component to rebalance and adjust the weights of existing liquidity pools on Demex.

SWTH-20-ETH-80 (4x) SWTH-20-USDC-80 (4x) ETH-50-WBTC-50 (1x) ETH-50-USDC-50 (2x) WBTC-50-USDC-50 (2x) CEL-50-USDC-50 (0x) NEX-50-USDC-50 (0x) nNEO-50-USDC-50 (0x) Details on the Liquidity Reward Extension 30% of block rewards issued as rewards over a period of 6 months (27 weeks). Rewards decrease linearly each week to 20% on the final week. Coming soon with Switcheo TradeHub v1.15.0 software upgrade: New boost reward system where LP tokens are committed for a maximum duration of 1 month for a reward boost of 2x.

Liquidity rewards will be extended for another 6 months (27 weeks) where 30% of block rewards will be distributed to LPs. This percentage will decrease every week to 20% until the final week (week 26).

Upon Switcheo TradeHub’s v1.15.0 upgrade, the boost curve that distributes additional rewards for committing LP tokens will be amended to a maximum of a 1 month lockup period with a 2x reward boost. Until then, boosted rewards remain unchanged.

What This Means for Existing Liquidity Providers

As noted, the proposal to extend liquidity rewards was executed on March 11, 2021, at 3 pm SGT. Nothing needs to be done by liquidity providers as rewards will be adjusted automatically.

For liquidity providers who have committed their LP tokens past the end-date of the original liquidity mining program (11 March 2021):

LP tokens will remain locked as per the initial commitment period. Upon Switcheo TradeHub’s v1.15.0 upgrade (coming soon) the new boost reward system will be activated. LPs with tokens locked up then will be eligible to earn the new boosted rewards until the end of the lockup period. Maximum of 1-month commitment duration for a 2x boost.

For example, let’s assume Alice has committed her LP tokens until 11 May 2021. Her LP tokens will continue to remain locked until 11 May, but she will be able to earn the new boosted rewards upon the Switcheo TradeHub v1.15.0 software upgrade.

For more details on how to provide liquidity, check out the detailed guides.

CryptoNinjas » Switcheo decentralized exchange Demex extends liquidity rewards for 6 months

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Safe Exchange Coin (SAFEX) на Currencies.ru

$ 0.0054306 (-0.25%)
Объем 24H $1.742k
Изменеия 24h: 1.41 %, 7d: -8.63 %
Cегодня L: $0.0053635 - H: $0.0055227
Капитализация $6.099m Rank 99999
Доступно / Всего 1.123b SAFEX

exchange rewards months liquidity switcheo decentralized demex

Источник: cryptoninjas.net

exchange rewards → Результатов: 126


Фото:

Binance’s DeFi initiative announces its first project in 2021

Binance is known for being the world’s largest crypto exchange by volume, but in addition to that — it is also always among the first to jump on a new trend. The exchange made several moves to enter DeFi when the sector first started to become popular, one of which is the creation of Binance Launchpool — an initiative created to bring DeFi to its users and allow them to get rewards.

2021-1-9 15:05


AlphaPoint launches Yield Platform to power crypto lending, staking and rewards

Digital asset software company AlphaPoint today announced the launch of the AlphaPoint Yield Platform available for use by marketplace and wallet operators using the company’s technology. Exchange and brokerage operators will have the ability to manage borrowers, lenders, rates, and distributions all on one simple to use platform featuring automated and manual settings and detailed […] CryptoNinjas » AlphaPoint launches Yield Platform to power crypto lending, staking and rewards

2020-10-31 05:54


Coinbase Adds Compound to Its ‘Learn & Earn’ Program; Users Rewarded With Free COMP

Coinbase, the largest crypto exchange in the U.S., offers Compound (COMP) token rewards for users to learn about the governance protocol. In a blog post released on Wednesday, Coinbase Earn, the learning wing of the exchange, announced users could start earning COMP rewards by “watching videos and completing quizzes about the Compound protocol and its […] The post Coinbase Adds Compound to Its 'Learn & Earn' Program; Users Rewarded With Free COMP first appeared on BitcoinExchangeGuide.

2020-10-15 17:49


Cryptocurrency Derivatives Exchange BitOrb Launches Testnet Trading Tournament with Rewards in Bitcoin and ORBYT tokens

Coinspeaker Cryptocurrency Derivatives Exchange BitOrb Launches Testnet Trading Tournament with Rewards in Bitcoin and ORBYT tokensNewly launched crypto derivatives exchange BitOrb is hosting a Testnet Trading Tournament for all-levels of traders to win a pool prize worth USD $1,500 in Bitcoin bonuses and 12,500 $ORBYT tokens on their testnet platform.

2020-10-12 10:00


Digital Asset Trading Platform eToro Rolls Out Cardano (ADA) And Tron (TRX) Staking Service; More Crypto’s to Come

Popular trading platform, eToro, announced on Thursday that it would provide staking rewards for cryptocurrencies starting with Cardano (ADA) and Tron (TRX). The multi-asset exchange stated that clients that own these cryptocurrencies, ADA, or TRX, would have a chance to earn rewards by staking, which will be paid out monthly.

2020-10-2 00:16


OKEx Jumpstart Mining Opens New Revenue Generation Avenues for OKB Holders, ZYRO Becomes First Staking Project

OKEx Jumpstart, the cryptocurrency project accelerator operated by global crypto spot and derivatives exchange OKEx now supports mining on its platform. According to the announcement, the feature will allow OKB token holders to stake their tokens 14 days before the listing of a new Jumpstart project for a chance to gain rewards and staking incentives. […]

2020-9-10 16:15


Bitrue Reaps the Rewards of Putting XRP at the Center of its Digital Assets Platform

Singapore-based digital assets exchange Bitrue has found success by putting the digital asset XRP at the center of its trading platform. The asset is used by Ripple’s payment network to facilitate low-cost, same-day cross-border transactions and Bitrue believes that XRP’s growing utility among businesses and individuals will bring more users to its exchange.

2020-5-15 21:14


Фото:

Basic Attention Token (BAT) Trading Coming to Gemini Exchange Tuesday, May 5

Co-Founder and CEO at Gemini, Tyler Winklevoss announced that the Gemini crypto exchange will support the trading of Basic Attention Token (BAT) from this coming Tuesday. He continued by earmarking brave, which is BAT’s web browser that appeals by its speed, security, privacy, and also offering its users a chance to earn rewards. The announcement […]

2020-5-2 20:38


Фото:

Traders Flocking Over to ProBit Exchange to Compete for 1,500,000 CLR in Rewards During Upcoming Color Coin Listing

Color Coin will be launching two unique events to pair with its upcoming listing on February 27 at 15:00 KST on ProBit Exchange.   Color Coin Arrives at ProBit Both trading pairs of CLR/KRW and CLR/USDT will be eligible for a net purchasing competition as well as a trading competition which has been a staple ofRead MoreRead More.

2020-3-4 14:00


Binance US Adds Algorand (ALGO) and Cosmos (ATOM) Staking

US-based Binance is the latest entrant into the staking game. It has joined other leading crypto exchanges by including staking rewards for cosmos (ATOM), and algorand (ALGO) cryptocurrencies. The exchange released an official announcement on Wednesday regarding this new development and stated that the returns are to be made on a month-to-month basis. ATOM and ALGO […]

2020-1-29 18:55


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Switcheo’s new decentralized spot trading platform Demex is now live

Switcheo, the cryptocurrency platform technology ecosystem, today announced that Demex, its new decentralized derivatives exchange is now live. For the Switcheo Foundation, the launch marks a significant milestone in its goal to establish a decentralized trading platform superior to the centralized cryptocurrency exchanges of today.

Ontology, Neo, and Switcheo introduce new interoperability network

In a bid to lay the groundwork for a more collaborative and transparent decentralized ecosystem, three leading global blockchain projects, Ontology, Neo, and Switcheo, have announced the launch of Poly Network, a heterogeneous interoperability protocol alliance.

Switcheo to launch DEX for blockchain platform Zilliqa

Zilliqa, the high-performance blockchain platform, announced today a new partnership with Switcheo, the first decentralized cryptocurrency exchange on the NEO blockchain; to build a non-custodial, decentralized exchange (DEX).

Top 3 Reasons to pay Attention to the Switcheo Platform

When it comes to exploring potential alternative solutions to traditional cryptocurrency exchanges, the number of options continues to increase every quarter. Very few platforms can make a lasting impact at this time, although the Switcheo team has shown it can be done through hard work.