DeFiChain Allocates 1 Million DFI To Reward Liquidity Providers

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DeFiChain, the lead­ing blockchain on the Bit­coin net­work has announced that its com­mu­ni­ty has elect­ed to award sub­stan­tial min­ing incen­tives for its ERC-20 DFI token pairs on Uniswap. More than 96% of par­tic­i­pants sup­port­ed the pro­pos­al that was put for­ward by DeFiChain’s Lead Researcher. The plat­form made the deci­sion to encour­age the min­ing of DFI-ETH, DFI-USDT, and DFI-USDC pairs on Uniswap’s liq­uid­i­ty pool. Con­se­quent­ly, DeFiChain has con­tributed 1 mil­lion DFI tokens from the Com­mu­ni­ty Fund to the pool.

DeFiChain reward structure and liquidity pools

The DFI-ETH pair will now earn 0.5 DFI for every Ethereum block under the new reward struc­ture. On the oth­er hand, DFI-USDT pair will earn 0.25 DFI per Ethereum block, while DFI-USDC pair will get 0.25 DFI per Ethereum block. Fur­ther­more, a smart con­tract on the Ethereum main­net will guide the dis­tri­b­u­tion of the rewards in line with a spe­cif­ic sched­ule. Smart con­tracts are dis­trib­uted in tranch­es for secu­ri­ty reasons.

Each Ethereum block will receive one DFI token. As with DeFiChain mainnet’s DFI emis­sion rate, block rewards will be reduced by 4% every sev­en days, in blocks, begin­ning at 9AM UTC on August 22nd. Before that point, rewards will only be giv­en out at a con­sis­tent rate of 1% of the above-men­tioned rates.

DFI’s util­i­ty on ERC-20 is will like­ly grow expo­nen­tial­ly thanks to the addi­tion of addi­tion­al liq­uid­i­ty pools and an array of new projects. On the Ethereum blockchain, DeFiChain enables the whole DeFi com­mu­ni­ty to access its decen­tral­ized assets. The assets include stocks, com­modi­ties, and ETFs, over the Ethereum net­work. In addi­tion to pro­vid­ing investors with a pos­i­tive return on invest­ment, this will also give Ethereum users new use cases.

A tiny por­tion of the block rewards go to the Com­mu­ni­ty Fund. There are cur­rent­ly 27,092,291 DFI tokens acces­si­ble to devel­op­ers on the DeFiChain blockchain who wish to use them. Also, before any release, there must be agree­ment from more than 51% of the nodes in the net­work. Mas­tern­odes have the abil­i­ty to agree or deny a pro­pos­al by sign­ing a message.



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