CrescoFin Announces New Liquidity Mining Program
2 min read
In cooperation with GYSR, regulated Swiss bank alternative CrescoFin has revealed a new liquidity mining program.
GYSR is a platform for projects to deploy and configure their own yield farm, which can be done in a snap. CrescoFin’s flagship product is insured, interest-bearing and in fiat with higher rates than the ones at traditional financial institutions. CrescoFin’s equity token, CRES, is matched 1:1 with shares in the company. CRES tokens have full voting and dividend rights that are protected by Swiss law. Anyone can freely exchange the wrapped version of CRES, wCRES.
Similarly to how a share certificate is traded on an exchange. CrescoFin is expected to launch a Geyser today on March 9, with the purpose of rewarding wCRES’ liquidity provision.
The program will incentivize liquidity providers of the wCRES/ETH pair on the Uniswap Decentralized Exchange for over 4 months, with up to 25000 wCRES to be given out.
Users must provide an equal amount of wCRES and ETH to the wCRES pool on Uniswap, in order to become eligible for the reward claim. Once the corresponding amount of wCRES-ETH LP tokens have been received, the LP tokens will need to be staked on the GYSR platform.
Since the staking of Uni V2 LP tokens on GYSR is unlocked, liquidity providers are free to leave the program whenever they want. However, the ones who left early might miss out the opportunity to receive bigger rewards as the rewards increase on a linear scale.
“Our community is our most valuable asset, so it’s important to align incentives between CrescoFin and its token holders. Through liquidity mining, we hope to provide a vehicle for users to invest in the long-term value of the company and at the same time reward financial commitments and participation,” said Derek Mayne, Managing Director and Co-Founder of CrescoFin.
Other than Uniswap, CrescoFin has a considerable presence on the DODO Exchange as well. Its wCRES/USDT pool will soon benefit from a liquidity mining program and will be announced in the future.
The post CrescoFin Announces New Liquidity Mining Program appeared first on SuperCryptoNews.
