This article was first published on Bancor - Medium
Once live, the new Bancor V2 pool will allow ENJ holders to provide liquidity and earn a share of the pool’s trading fees while maintaining their long position on the token.
Currently, game developers use the Enjin Coin to mint next-generation ERC-1155 blockchain assets for their games and gamers use it to purchase assets from the Enjin Marketplace. By providing liquidity to gamers and developers, ENJ holders can help to fuel blockchain adoption within the $152 billion games market.
While existing automated market maker (AMM) solutions require liquidity providers to split their holdings into multiple reserve assets, Bancor’s V2 solution gives LPs the ability to:
The ENJ pool will utilize Chainlink’s newly launched ENJ/ETH decentralized price feed to achieve these novel features.
At that point, ENJ will be among the first pools to go live on the new system. Following the launch, either pool may be eligible to receive incentives to farm ENJ or BNT.
In the meantime, Bancor will be conducting an AMA in the ENJ Telegram Channel on Wednesday July 22nd at 11:00 AM EST date to answer any questions about the functionality of the pools and the process of providing liquidity. Submit your questions for a chance to win BNT & Frozen ENJ!
We are thrilled with this integration. ENJ was one of the first tokens to join Bancor V1 in 2017, and the Enjin Wallet is among the leading crypto wallets utilizing Bancor for swaps. We look forward to having the ENJ community participate in ...
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Bancor - Medium