Bancor (BNT) Unveils Liquidity Mining Rewards and Compound Yield
Last year, Bancor proposed the BNT Liquidity Mining (LM) program to bring new liquidity into its pool and create rigidity to stimulate long-term liquidity.
BNT Liquidity Rewards on Bancor
As of today, BNT liquidity returns are now available on the Bancor.network interface. Users can now view, download and stake BNT prices to increase profitability. Staking BNT rewards allows users to win swap fees and additional BNT rewards.
With Bancor’s unilateral liquidity pool, users can easily stake BNT rewards without having to put tokens on the other side of the pool. It creates positive feedback, prompting the user to convert the prize won into productive capital while increasing the pool’s liquidity depth in the logs.
Staking BNT Rewards
If you stake on BNT rewards, you will deposit your rewards in the same pool or a different one, opening a new position in that pool. Your staked BNT rewards win swap fees and additional dig rewards that you can also stake to win more fees and gratuities.
Thanks to Bancor’s one-way liquidity pool, users do not need to provide additional tokens to stake on BNT prizes – only the awards themselves. Staking rewards are made in one atomic transaction and allow you to maintain the bonus multiplier in all your live staking. They also provide significant liquidity for the record as they enable more non-BNT liquidity to enter the system.
You can stake on the price of a nuclear transaction without having to sell or send new tokens.
In each group, 70% of the extraction costs go to the liquidity providers who supply the BNT site. You can find the APR of the award in the data section with the red counter showing the remaining time in the current price cycle. The office has proposed extending rewards on key pools in the network.
Adding More Protected Pools
In December 2020, Bancor presented users with the function of adding tokens to several AMM pools, which BNT could use to gain liquidity. Through governance votes, the network would know whether the tokens were whitelisted.
SNX and AAVE management tokens now receive a liquidity bonus for three months by joining similar tokens such as ETH, LINK, WBTC, DAI, and six other tokens.
In December, Coinbase added BNT to its list of the supported coins. Bancor recently announced the profitability of Protocol v2.1 in its health report released on Tuesday (12 January 2021). According to reports from 24 October 2020 to 6 January 2021, Bancor v2.1 saw the platform’s liquidity increase by almost 100%.