Home / Altcoins / Fuse Network Extends Its LP Rewards Campaign – Product Release & Updates

Fuse Network Extends Its LP Rewards Campaign – Product Release & Updates

Fuse Network Extends Its LP Rewards Campaign

Fuse Network recently announced that they have extended their rewards campaign by two weeks.

The tweet by Fuse Network states that the program will end on November 21. The platform also noted that 25,000 FUSE would be awarded during this second round.

About the Fuse LP Rewards

On the 24th of October, Fuse Network announced the beginning of the beta version of their Fuse LP Rewards campaign. The goal of the campaign is to provide increased liquidity on Uniswap. For this reason, the program was designed to reward users so that they can provide FUSE liquidity to Uniswap.

To participate, users will provide liquidity on the ETH-FUSE pair at a 50:50 ratio when they go to Uniswap. Once users are able to add liquidity on Uniswap, Uniswap will also reward them with ETH/FUSE LP tokens from Uniswap. After that, users will have to head on to rewards.fuse.io. As a participant, if you use the same wallet for providing liquidity on Uniswap, your LP token balance will be displayed. All you have to do is to deposit and confirm the transaction using your wallet.

Additionally, Fuse Network warns that providing liquidity and staking tokens may come with the risks of smart contract failure and impermanent loss. They further warned participants to take note of these risks before taking part in the program.

Fuse Extends Rewards Program

The initial campaign on rewards.fuse.io went live on October 24 at 15:00 GMT and lasted for 14 days. After the 14 days, users are to un-stake their LP tokens and take them back to Uniswap. Afterward, they will be able to retrieve their FUSE and ETH.

However, as a result of the campaign’s success and positive feedback from their community, Fuse has decided to extend the rewards program for another two weeks. For this reason, the program will now end on November 21 at 3 pm GMT. During the period, up to 25,000 FUSE will be rewarded to participants.

According to Fuse, at the end of the rewards campaign, a new one on FuseSwap will likely be introduced. The coming program is currently going through beta testing.

Before now, Corion Foundation, a non-profit organization, announced a partnership with Fuse. They aim at continuously increasing users’ participation and adoption of stablecoins and decentralized finance (DeFi).

Additionally, Elrond announced a strategic integration of its assets on Fuse Network.

As of the time of writing, the Fuse Network token (FUSE) price stood at $0.051108. FUSE has a max supply of 306 million coins. Uniswap (v2) is the current most active market trading it.

For more cryptocurrency news, visit the Altcoin Buzz YouTube channel.




Source link

Check Also

Crypto.com Obtains Two New Licenses in Malta – Cryptocurrency Regulation

Crypto.com achieves yet another major milestone. It has become one of the first crypto platforms ...

Leave a Comment:

Your email address will not be published. Required fields are marked *