Bancor launches liquidity mining plan, the first batch of plans supports 8 token pools

Rhythm BlockBeats news, November 16, on-chain liquidity protocol Bancor< /a> Announced the launch of the liquidity mining program, and users who provide liquidity for the protocol will be rewarded with BNT tokens.

Officially stated that the mining plan of 8 liquidity pools is waiting for the community to approve. There are 6 large mining pools and 2 medium mining pools.  

Large pools include: ETH, WBTC, USDT, USDC, DAI, LINK, and you can get 100,000-200,000 BNT rewards every week;

The medium-sized pool includes: OCEAN and renBTC, which can get 10,000-20,000 BNT rewards every week.

According to the rules, every two weeks, two new tokens can be added to the pool. After activation, the token pool will receive token rewards for 12 consecutive weeks.

BNT liquidity mining rewards will be allocated 70% to the BNT side of the liquidity pool and 30% to the base ERC20 token (or “TKN”) side of the pool.

Liquidity providers who keep their rewards in the protocol receive a "bonus reward multiplier" which increases their BNT rewards by x2 every week.

Starting today (November 16, 2020), when the program finally launches, the proposed reward pool (ETH, WBTC, USDT, USDC, DAI, LINK, OCEAN or renBTC) will be retroactively rewarded in BNT for providing protected liquidity.

The entire program is expected to last 72 weeks.

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