Vote for the Next Tokens to Receive BNT Liquidity Mining Rewards
LPs who stake in qualifying pools earn BNT rewards retroactively when liquidity mining eventually goes live in the coming weeks.
Now it’s time to vote for the next tokens to receive BNT Liquidity Mining rewards. 12 tokens are being proposed for the community to vote on in Discord, 6 of which will make it to on-chain voting, and ultimately 2 winning tokens will be added the liquidity mining program. Discord voting will conclude on Sunday, December 20th at 12PM Zug time.
The 12 tokens proposed are:
How to Vote
- Go to Bancor’s Discord and vote for the next 2 tokens to receive BNT liquidity mining rewards.
- The 6 tokens with the most Discord votes move to on-chain voting, where a YES/NO proposal will be created for each selected token.
- The 2 tokens with the most YES votes start receiving BNT liquidity mining rewards.
- In order to qualify for rewards, a pool must have a minimum of $400,000 in liquidity.
More details on BNT Liquidity Mining:
- Every 2 weeks, 2 new tokens will be voted into the BNT liquidity mining program by Bancor governance.
- New tokens added to the program receive receive weekly BNT rewards for 12 consecutive weeks.
- The entire program last for 72 weeks.
- 70% of weekly BNT rewards emitted to a given pool are distributed to the BNT side of the pool. 30% are distributed to the base ERC20 token side.
- Meaning, users who stake BNT in a rewards pool are entitled to a greater share of rewards.
- LPs who leave their BNT rewards unclaimed for 2+ weeks or re-stake their BNT rewards to another pool are entitled to receive a Bonus Rewards Multiplier, which increases their BNT rewards by up to 2X per week.
- Rewards will appear retroactively in bancor.network upon activation of the program in the coming weeks.
More details on Bancor v2.1:
- Bancor v2.1 introduces impermanent loss insurance and single-sided exposure to AMM liquidity pools.
- Users can stake their tokens and earn swap fees and BNT liquidity mining rewards while maintaining 100% exposure to a single asset with protection against impermanent loss.
- Impermanent loss insurance starts 30 days after your deposit, at a rate of 30% and gradually increases 1% per day until you reach 100% protection.
- Liquidity providers are insured against impermanent loss in whitelisted Bancor pools whether they opt to stake single-sided or dual-sided.