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Ahead of our soon orderbook DEX launch, Genshiro users can become liquidity providers for bailout pools or our new MM pools and earn bootstrap rewards from a special GENS allocation.
We have allocated 36,000,000 GENS for these rewards in total that will be distributed among participants of the Liquidity Bootstrap Event. To become eligible for rewards, users need to deposit their funds to Genshiro’s liquidity pools in the period between March 22 12PM UTC and April 5 12PM UTC.
Join our 16th Community Call, where we’ll discuss the event in details.
Bootstrap event summary
Event timing: Two weeks (March 22 12PM UTC — April 5 12PM UTC)
Note: bailsmen who already hold deposits in BNB, ETH, GENS, and EQD pools will also receive event rewards!
How to participate
Follow the next simple steps to participate in the liquidity bootstrap event on Genshiro:
If you are struggling with your choice between pools, you can learn more about MM pools hereabout bailout pools — here
How to maximize your rewards
As mentioned above, we are allocating a chunk of 36,000,000 GENS as special rewards for liquidity providers who participate in the bootstrap event. This allocation will be split evenly between bailout and MM pools:
Regular rewards will be distributed proportionally to stakes in the pools during the event.
However, participants can unlock additional bonuses. Here’s what they need to do:
1. Beat liquidity thresholds collectively
We will be distributing more GENS if the total raise during the event overcomes the following thresholds:
Example: Let’s say the total liquidity brought to all of the MM pools is $3 million during the event, this means that total rewards will be 3,000,000 * 2.75 = 8,250,000 GENS tokens distributed pro-rata among contributors.
2. Specify timelocks for your deposits
Users can gradually increase their rewards on deposits to MM pools if they specify terms for locking their funds.
Here is how it will work on Genshiro (rewards recounting on liquidity volume multiplied regarding lock period):
What’s next?
We will launch our new liquidity farming program once our DEX goes live. So all deposits in liquidity pools on Genshiro will keep receiving liquidity farming rewards. These rewards will account several additional factors: share of GENS in your portfolio, amount of borrowed funds, and your trading activity.
Liquidity is a core component of any successful exchange. We hope that our liquidity bootstrap event will help to promote liquidity network effects and incentivize professional liquidity providers to show up.
The goal here is to attract liquidity both into the market maker pools and into the bailsman pool. Liquidity from market maker pools will be used by designated market makers to provide depth for the order-book, while liquidity for the bailsman pool will be used as insurance and lending liquidity (like shorting assets you don’t own on the DEX spot market).
Don’t miss our Community Call on March 24 at 2 PM UTC, where we’ll give a thorough explanation of the event mechanics. Make sure to prepare your questions!
About Equilibrium and Genshiro
Equilibrium is a cross-chain DeFi super-app that allows for cross-chain borrowing and trading digital assets with high leverage. It combines a money market with the lowest collateral requirements ever and an orderbook DEX with leverage up to 20X.
Genshiro is a Kusama-based sister-chain for Equilibrium. It’s the protocol that helps users seamlessly earn yield, borrow, and trade on margin. Using asset portfolios instead of single collateral vaults.
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