Following the launch of 1inch’s liquidity mining program back in August, the team have received extensive and valuable feedback from the 1inch community. Based on that feedback, 1inch is now unveiling the second stage of its liquidity mining program, aimed at further incentivizing early providers of liquidity to four selected Mooniswap pools.
Under stage 2, 1inch will distribute an additional 1% of the 1INCH token supply among users upon the issue of the token. Rewards will apply to liquidity providers to the following pools:
“To ensure maximal transparency of the awarding process, we are working on a dashboard that will display the precise amounts of awards earned by each user,” says Sergej Kunz, 1inch co-founder and CEO. “This feature will arrive once the 1INCH token has been released, and we’ll let our community know as soon as it is active.”
All users who will provide liquidity to the above pools before the release of the 1INCH token, will collect rewards once the token has been released. There will be no vesting schedule for either stage 1 or 2.
Liquidity providers will earn an amount of 1INCH tokens, based on the amount of time and the size of their contribution to the pool. The exact formula can be seen here:
Stage 2 of the liquidity mining program was launched on November 18, 4 pm UTC.
The launch of the liquidity mining program’s second stage will have no impact on the first stage, launched back in August. Users are still entitled to awards under stage 1. Moreover, as 1inch strives to support the community it plans to offer more incentive programs soon.