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$PONY Liquidity Mining
2 months LM of $PONY via xToken Terminal
In conjunction to the launch of the PONY Index. The PONYDAO will be doing a two months liquidity mining campaign to incentivise $PONY holders to earn PONYDAO tokens. 10% of the total supply of $PNYD will be split across these two months. We will be using a permission-less platform called xToken Terminal to roll out this LM campaign.
This liquidity mining enables PONY Index token holders to earn rewards by pairing up their $PONY with USDC and locking them into our smart contract. By doing so, users provide liquidity for the $PONY token in the Uniswap V3 pool. Liquidity providing aids in facilitating the 24/7 Automated Market Maker for secondary trading of $PONY and USDC.
One way to think of Yield Farming is that Liquidity Providers act just like Currency Changers in the real world. For example, a Currency Changer who holds USD and EUROs will charge a fee for exchanging USD to EURO, vice versa. Liquidity Providers act in the same way except in this case, they hold crypto assets.
Liquidity Providers earn trading fees from the secondary exchange whenever swaps from $PONY to USDC, vice versa, are made. The trading fees are set at 0.05% per trade. On top of earning trading fees, Liquidity Providers are rewarded with PONYDAO tokens ($PNYD). $PNYD rewards are distributed over time to Liquidity Providers.
$PNYD rewards earned by Liquidity Providers will have NO vesting period and the rewards can be claimed and transferred to the Liquidity Provider's wallet after claiming.
Start Liquidity Mining with your $PONY now here;