31 C
Guangzhou
Wednesday, July 24, 2024
AltcoinsSophon Launches Liquidity Farming Allowing Users to Earn SOPH Tokens

Sophon Launches Liquidity Farming Allowing Users to Earn SOPH Tokens

- Advertisement -spot_imgspot_img
- Advertisement -spot_imgspot_img

Sophon, a blockchain network dedicated to entertainment and utilizing zkSync’s technology, has embarked on a new venture. The platform has announced the launch of a liquidity farming project that allows individuals to participate and earn $SOPH tokens. The company has set aside a total of ten percent of the overall $SOPH supply for this initiative.

Sophon Introduces Liquidity Farming, Offering Users Access to $SOPH Tokens
Users who contribute to Sophon’s total locked value can partake in the rewards. To do so, they can deposit specific eligible assets into designated farming pools on the platform. Participants in the farming project will receive rewards in the form of “Sophon Points.” A key feature of Sophon’s farming pools is the booster project, which allows participants to potentially enhance their rewards on their deposits.

The booster is an optional mechanism that requires users to permanently commit a portion or all of their deposited assets to provide liquidity on Sophon. This booster function increases the multiplier effect on users’ deposits, thereby increasing their potential rewards.

Boost Your Deposits by 5X with the Booster
Users can activate a booster by locking a portion or all of their deposited assets permanently. This means that the liquidity will remain on Sophon indefinitely, and depositors will not be able to withdraw their assets. The booster can increase the deposit by up to five times, with the assets used to activate the booster being permanently allocated to provide liquidity.

The primary assets available for deposit include BEAM/ETH LP and BEAM. Additional farming pools will be introduced over time. Sophon has allocated up to ten percent of the total $SHOPH token supply specifically for liquidity farming in order to attract a large number of participants.

The rewards earned by participants will accumulate in real-time and can be viewed through the Sophon Farming Portal. The rate of reward accumulation varies by pool, with the amount deposited by a user directly impacting the overall accrual rate of that pool.

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here