Tonic Launch $USN Liquidity Program

Published on: 08.09.2022
Tonic Launch $USN Liquidity Program

Why?

  • The Tonic team believes in the vision for the decentralized stablecoin $USN and also, they want to help in any way possible.
  • Orderbooks are more capital efficient than AMMs, and liquidity incentives on Tonic will allow them to provide the deepest liquidity for USN/USDC across any DEX on NEAR.
  • USN/USDC is an easy pair to start with for traders unfamiliar with providing liquidity on orderbooks.

How To Participate

  • To be eligible, you must be a Greedy Goblin NFT holder. If you do not hold one, stay tuned 🙂
  • This program rewards maker orders on the orderbook. To learn more about maker vs taker orders, see this helpful guide from Binance.
  • Each qualifier splits the rewards among all qualifiers evenly by percentage of liquidity provided. The payment also will be a multiple of the normal maker rebate that is determined daily by the Tonic team.
  • Liquidity closer to mid-market price ($1) offers a better user experience for their traders and will be rewarded accordingly. Orders within 2 bps (0.02%) of $1.00 will be rewarded with incentives.
  • Buy side liquidity is more crucial at this stage for the USN project, since it helps maintain the peg. They will reward buy side liquidity at twice the rate of sell side.
  • Only orders that are filled (including partial fills) will count toward the incentive program.

Leaderboard and Reward Distribution

  • Total Liquidity incentives: $50,000 USN
  • Daily Liquidity incentives: $250–1000 USN
  • Liquidity Program duration: 30 days

How to whitelist for $USN Liquidity Program on Tonic DEX

  • Fill in your details in this form.
  • Ensure that the address you trade with has a Tonic Greedy Goblin while you are trading.

About Tonic

Website | Twitter

About DecentralBank

Decentral Bank is the DAO developing and supporting $USN, the NEAR-native stablecoins. Decentral Bank DAO manages the smart contracts of $USN and its Reserve Fund. The DAO votes on the different aspects and decisions around $USN.

Website | Twitter

SOURCE: MEDIUM

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