Introducing the $BOSON liquidity mining program and unpacking some of the DeFi-nitions you need to know.
Following the success of the first Boson Guardians initiative, the Token Holder reward program, we’re pleased to announce that a Uniswap Liquidity mining program will be launched on 13.12.2021 at 15:00 UTC.
We are grateful to our community for supporting our aim of a fairer, more trustless and capture-resistant decentralized commerce ecosystem in the future, and want to enable easier access for new community members to acquire BOSON.
About Boson Guardians
The Boson Guardians program is a program to reward supporters of the project for their contributions.
On April 12th the first Guardians initiative launched: The Token Holder reward program, offering rewards for loyal holders of $BOSON Tokens. You can read our original post about it here. The web app for claiming these rewards was launched on October 1st, users are able to claim their rewards until October 1st 2022, all unclaimed rewards will flow back to the project.
The second Guardians initiative: The BOSON Liquidity Mining program will be available on the 13th of December.
Liquidity Providers of the BOSON/ETH 0.3% fee pair on Uniswap v3 will be able to stake their Liquidity Position NFTs and earn additional $BOSON rewards.
The aim of this program is to make it as convenient as possible for new community members to acquire $BOSON tokens. It is already possible to buy $BOSON on a range of centralized exchanges, including Bitfinex, Crypto.com, Kucoin and Gate.io. However, as an integral component in the burgeoning, trustless Web3 ecosystem, this program is now opening the door to improved $BOSON Liquidity within the DeFi system.
Program Stats
Token allocation: 250,000 BOSON
Duration: 13th of December, 15:00 UTC — 13th of March 2022, 15:00 UTC
Exchange: Uniswap v3 BOSON — ETH 0,3% Pool
Network: Ethereum Mainnet
Liquidity provision and liquidity mining are important parts of the Decentralized Finance (DeFi) ecosystem. Many people reading this will have committed funds to liquidity pools on decentralized exchanges (DEXs) in the past, and we encourage you to do your own research and read independently about the risks and rewards associated with liquidity pools before making a decision.
What are liquidity pools?
Unlike a centralized exchange where buyers and sellers are matched by an order book, decentralized exchanges like Uniswap incentivize users to deposit their assets in a liquidity pool, where they are rewarded with trading fees. The glossary on Gemini exchange explains it pretty well:
“A liquidity pool is a crowdsourced pool of cryptocurrencies or tokens locked in a smart contract that is used to facilitate trades between the assets on a decentralized exchange (DEX). Instead of traditional markets of buyers and sellers, many decentralized finance (DeFi) platforms use automated market makers (AMMs), which allow digital assets to be traded in an automatic and permissionless manner through the use of liquidity pools.”
It is worth reading up about how liquidity pools work before committing funds to them so you make yourself aware of the concept of impermanent loss, which can happen as the two assets fluctuate in value against each other. You can read more about them here.
And what is liquidity mining?
In many cases, liquidity providers have the chance to receive more than just trading fees from their provision — and that is exactly what the Boson Liquidity Mining program offers. When someone supplies the BOSON/ETH pool with liquidity, they receive Liquidity Provision (LP) NFTs in exchange for their position. These can be staked to earn further rewards, through a process which we will describe in detail in a follow-up post.
How can I take part?
In Part 2, coming on the 9th of December, we will walk you through the steps for taking part in the program. Stay tuned!
None of the information available or made otherwise available to you in relation to this program constitutes any legal, tax, financial or other advice. Where in doubt as to the action you should take, please consult your own legal, financial, tax or other professional advisors.
At Boson Protocol, we are creating a decentralized commerce ecosystem that everyone can use and anyone can trust.
Boson Protocol is a decentralized infrastructure for enabling autonomous commercial exchanges of anyThing, specifically off-chain items. Boson is a peer-to-peer system which replicates the benefits of a market intermediary, without the disbenefits of centralized systems.
Keen to learn more?
Enjoy the dCommerce Stack outlining the services we’ll need to build a dCommerce ecosystem.
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This news is republished from another source. You can check the original article here
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