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EURxb.Finance to distribute 1,000 XBE liquidity rewards on Uniswap and Sushiswap

Published 03/31/2021, 03:40 AM
Updated 03/31/2021, 04:00 AM
EURxb.Finance to distribute 1,000 XBE liquidity rewards on Uniswap and Sushiswap

EURxb.finance has announced a 10-day liquidity event designed to incentivize XBE-USDT liquidity providers on Unsiswap and Sushiswap. In line with its community-focused approach to governance, the platform will distribute 1,000 of its governance token, XBE, during this program.

EURxb.finance, a new generation DeFi solution, will kick off its first XBE liquidity incentive program around the end of March. The protocol aims to solidify its plans for a decentralized governance system by distributing 1,000 XBE among liquidity providers of XBE-USDT pools on Sushiswap and Uniswap. EURxb.finance will split the reward evenly such that 500 XBE is distributed to XBE/USDT pool on Uniswap and the other half will be shared among XBE liquidity providers on Sushiswap.

Throughout the 10-day program, liquidity providers will receive a total of 100 XBE per day – 50 XBE for each XBE-USDT liquidity pool. To receive rewards, Liquidity providers (LPs) must lock their funds on either Sushiswap or Uniswap’s XBE-USDT liquidity pools, and stake their LP tokens till the end of the event. Interestingly, participants are free to withdraw their rewards at any point during the program.

Guidelines for Participating in The XBE Liquidity Event
The XBE liquidity event will commence once the development team completes the staking contract audits. In the meantime, interested participants are enjoined to familiarize themselves with the rules governing the liquidity program. Below are the guidelines for the XBE liquidity event.

  • To partake in this program, liquidity providers would have to hold the value of XBE and USDT that is proportional to the pool ratio at the time of adding liquidity. Those who do not have XBE can purchase it from any of the following pools https://info.uniswap.org/pair/0x5551c4812a89bf840e3da6debd4cb1a2d5322e3a https://app.sushi.com/pair/0x73b1183940297cE6ecb772ae9CEdaCa7fCDc30a5
  • Once the appropriate proportion of USDT and XBE is secured, the Liquidity provider can head over to https://app.eurxb.finance to deposit liquidity to selected pools on Uniswap or Sushiswap.
  • The liquidity provider must permit the contracts to use both the XBE and USDT assets funded into either the USDT-XBE pool on Uniswap or the USDT-XBE pool on Sushiswap. After scaling this process, the liquidity provider can go ahead to deposit liquidity in the aforementioned pools.
  • The next step is to stake the LP tokens generated to earn LP rewards in XBE. Note that it is impossible to withdraw staked liquidity tokens until the end of the 10-day program. This also applies to the XBE and USDT deposited in the pools. However, participants can withdraw the XBE rewards generated from staking their liquidity at any given point.
    • Notably, this is not the first liquidity event powered by EURxb.finance. The protocol had previously distributed its governance token via a similar liquidity incentive program that ended on the 3rd of March, 2021. During its initial campaign, EURxb.finance incentivized EURxb liquidity providers and at the same time enabled a fair distribution strategy for XBE.

    XBE has a maximum supply of 15,000 tokens, of which 12,000 tokens have already been distributed to the community. Knowing fully well that XBE holders would play a major role in the governance of the EURxb.finance protocol, the team has ensured that the issuance and distribution of XBE promotes a fully decentralized economy.

    About EURxb.finance
    EURxb.Finance is a protocol focusing on eliminating the barriers to institutional DeFi. The platform aims to create DeFi solutions that embody the regulatory requirements of institutional investors, and at the same time, expose them to high yields. With this in mind, the protocol has launched EURxb, a euro-denominated stablecoin backed by ISIN-registered Green bonds. This offering generates a 7% fixed annual interest to holders and unlocks other DeFi interest-generating opportunities. EURxb.finance has gone a step further to establish decentralized governance for its ecosystem by issuing and distributing a governance token, called XBE.

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