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The new liquidity mining and swapping competition program goes live tomorrow on Loopring, providing Liquidity Providers and swappers with dual rewards on the FUSE/ETH pair.
- Program Starting: Thursday 4th March at 12 am UTC.
- Duration: 14-days.
- Swapping pair: FUSE/ETH.
- Total Rewards for LPs: 50,000 FUSE.
- Total Rewards for Swappers: 1,180 LRC.
- DEX: Loopring.
- Platform: Loopring (Ethereum Layer 2 Solution)
The team at Fuse is pleased to introduce a new program to reward FUSE/ETH Liquidity Providers (LPs) and swappers on Loopring.
A total of 50,000 FUSE & 1,180 LRC will be allocated as part of a dual reward program over 14-days.
What is Loopring Exchange?
“Loopring Exchange is a non-custodial Ethereum exchange built on Loopring layer 2. It is an order book-based and AMMM-based xchange that replicates the high-performance, low-cost trading experience of centralized exchanges. Users can trade speedily & cheaply (without worrying about Ethereum congestion or gas fees) while maintaining self-custody control of their assets. The exchange is built atop the open-source Loopring protocol.”
Read more, including how to transfer funds, trade, and add liquidity here.
Through this program, we aim to provide users on the well-known zkRollup supported DEX with exposure to FUSE as well as increasing general DEX liquidity for the token.
50,000 FUSE for Liquidity Providers
In addition to the 0.15% trading fee commissions earned via Loopring, LPs will also earn their share of the 50,000 FUSE tokens, distributed proportionally based on how much is contributed to the pool.
1,180 LRC for Swappers
The top 25 swappers on the FUSE/ETH pair will also be rewarded with a total of 1,180 LRC. 50% will be allocated to the top swapper, with exponentially lower rewards allocated using a power-law down to the 25th swapper.
A quick guide on how to participate in the FUSE/ETH Liquidity Rewards Program on Loopring:
- Step 1: Ensure you have FUSE and ETH tokens ready on your Ethereum wallet.
- Step 2: Transfer funds over to Loopring Exchange.
- Step 3: Add liquidity in the FUSE/ETH pool and/or make swaps on the FUSE/ETH pair.
- Step 4: That’s it! Nothing else to do — rewards are automatically added to the wallets of all liquidity providers, at 14-day intervals, proportionally based on their share of the pool.
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