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On August 22, DEX aggregator 1INCH revealed its native governance token 1INCH alongside a Mooniswap liquidity mining incentive.
- 1INCH will serve as a governance token; the token can be staked for network security and be used in governance of specific network functionalities, among other use cases
- 1INCH will not be on sale, but rewarded and distributed to the users of 1inch’s products
- Expected to be released in the weeks to come
- Mooniswap is an automated market maker released by 1inch, for which Ampleforth (AMPL) created 9 new liquidity pools
- The Mooniswap protocol uses virtual balances to grant Liquidity Providers (LPs) the opportunity to earn a portion of price slippage profits
- As an incentive, Early Mooniswap LPs with 1 year vesting will receive 2% of the total supply
Related Reading:
- 1inch DEX raised $2.8 million
- Ampleforth launches Geyser
