The decentralised ecosystem backing the cross-chain pTokens solution, pNetwork, has revealed the launch of its yield farming programme, Steroids. The programme will run a period of 1 month and will even award Uniswap liquidity providers with up to 10% monthly interest, distributed in pNetwork Token [PNT].
Dedicated to onboard new users, increase liquidity and boost adoption of the whole pNetwork ecosystem, Steroids will go live later this month to coincide with the launch of the pNetwork DAO.
The pTokens solution permits the free movement of cryptocurrency assets across several blockchain networks. Because the project works towards its progressive decentralisation roadmap, the pNetwork DAO will be introduced as how to start decentralising the system’s infrastructure, and to encourage community participation. As an initial incentive for enhancing engagement, a 42% APR reward is granted to DAO members who actively contribute to its governance.
This new Steroids yield farming initiative will be introduced to bring even further benefits to the whole ecosystem. Yield farming might be defined as any of the effort that puts crypto assets to figure to generate returns on those assets. This strategy has resulted in Ampleforth’s Geyser achieving a important pool on Uniswap [ETHAMPL], that today holds over $25 Mln in liquidity.
Similarly, the Steroids programme incentivises users to feature liquidity to Uniswap’s pool for PNT, the primary token to go on Steroids, also as multiple pTokenised assets in future. Up to 200,000 PNT tokens are dedicated to the interest rewards. The more liquidity users provide, and the longer it’s staked for, the upper the reward is.
Thereby, all PNT token holders can receive rewards by adding liquidity to the Uniswap V2 PNT/USDT liquidity pool. By offering this liquidity, token holders will receive “UniV2” pool tokens reciprocally, which act as a receipt for one’s contribution and represents their share within the liquidity pool. Holders will receive up to 10% monthly interest as a reward. Users can increase their earning potential supported what proportion, and for how long they offer liquidity for. The more contributed, the greater the share of the PNT pool received.
Additionally, Steroids functions as an application within the pNetwork DAO. This component permits the UniV2 PNT/USDT pool tokens to be staked directly within the DAO. This makes it possible to mix both Steroids rewards with pNetwork DAO voting rights, that further unlocks 42% APR rewards.
The Steroids programme offers scalable infrastructure for managing a spread of yield farming initiatives hosted within the pNetwork ecosystem. PNT on Steroids is among the very first plan to boost adoption and encourage healthy growth for the project, an experiment that forms the idea for other well-balanced initiatives within the mere future.
The project is familiar in such approaches, having launched limited, one-off staking programmes within the past. Just because of these initiatives, the project was ready to design an efficient staking programme for the pNetwork DAO, which is far larger in scope. The DAO will begin next week with 29 Million PNT tokens already at stake within the system, accounting for about 50% of the entire supply.