PancakeSwap Will List mCOIN Trading And Farm In Collaboration With Mirror Protocol
PancakeSwap Will List mCOIN Trading And Farm In Collaboration With Mirror Protocol
The Syrup Pool:
Stake CAKE tokens to earn UST tokens!
Total Tokens: 300,000 UST
Distribution duration: 60 days
Start block: 7288800 (approx. 5am UTC on May 10th)
Finish block: 9016800 (approx. 5am UTC on July 9th)
Token rewards per block: 0.17361 UST
The Farm:
In order to host the UST Syrup Pool, we will need to provide a mCOIN-UST farm that will have 1x CAKE rewards for the first 48 hours and then 0.5x CAKE rewards after that.
The Vote:
As usual, it needs to be approved via a vote.
Why do we need a vote? Since it dilutes rewards, the chefs want BSC’s greatest community to make the decision themselves.
About PancakeSwap
PancakeSwap is decentralized exchange and 1st Automated Market Maker and Yield Farming on Binance Smart Chain.
PancakeSwap uses an automated market make r (AMM) model. That means that while you can trade digital assets on the platform, there isn’t an order book where you’re matched with someone else. Instead, you trade against a liquidity pool.
About Mirror Protocol?
Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. Mirror is a community-governed project that seeks to unlock the wealth creation of major asset classes to users around the world via a permissionless access model.
The Mirror Token (MIR) is Mirror Protocol’s governance token. Currently, it must be staked to vote on active polls and is required as a deposit for making new governance polls. In future iterations of Mirror, it will serve further purposes for the protocol that increase its utility and value.
What is $UST?
TerraUSD is a dollar-pegged algorithmic stablecoin, where the cost of minting is equal to the face value of the stablecoins minted — in order to mint 1 TerraUSD, only $1 worth of the reserve asset ($LUNA) must be burned. TerraUSD monetary policy is infinitely scalable — helping DeFi apps and protocols achieve their full potential without restrictions.
