This article was first published on Bancor - Medium
BNT Liquidity Mining was recently approved by Bancor governance, with weekly BNT rewards currently being generated by liquidity providers staking in the 8 selected rewards pools.
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. We are proposing 12 tokens for the community to vote on.
How to Vote
- Go to Bancor’s Discord and vote for the next 2 tokens to receive BNT liquidity mining rewards.
- Following a 72-hour voting period, 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.
- In order to qualify for on-chain voting, a pool must have a minimum of $400,000 in liquidity.
- The 2 tokens with the most YES votes start receiving BNT liquidity mining rewards.
More details on BNT Liquidity Mining:
- Every 2 weeks, 2 new tokens will be voted into the BNT liquidity mining program by Bancor governance.
- Tokens added to the program receive between 10,000–20,000 BNT per week for 12 consecutive 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 the 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.
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Bancor - Medium