Bonus Rewards on Pancakeswap’s ALEPH Liquidity Pool
We are today (March 10th 2021) launching Bonus Rewards on our ALEPH Pancakeswap! We recently announced that ALEPH token is now accessible on Binance Smart Chain (BSC) along with trading and liquidity pool on Pancakeswap, the ultra fast growing AMM supercharging the BNB rise. Why are we adding extra incentives you say? So that anyone can buy ALEPH at the best possible price, with extremely low exchange fees and blazing fast speed.
“We are super excited to be listed on the fastest growing DEX the crypto space has ever seen so far. This new chapter will allow traders of all sizes to get ALEPH fast, with cheap transaction fees and great price.” Moshe Malawach aka Jonathan Schemoul, CEO at Aleph.im
About Aleph.im
Aleph.im’s core mission is to help decentralized apps and protocols strip off the centralized parts of their stack, achieving a fully decentralized architecture. Aleph.im achieves this by providing decentralized databases (including file storage), computation and a decentralized identification (DID) framework. You can think of aleph.im as a decentralized AWS or Firebase.
TL;DR
- Bonus Rewards for ALEPH LPs on Pancakeswap: 3000 ALEPH per Day
- Frequency of rewards: TBD
- Trade: swap ALEPH on Pancakeswap
- LP: pool ALEPH on Pancakeswap
- Swap: switch ALEPH between Ethereum and Binance Smart Chain (BSC)
- Contract: 0x82d2f8e02afb160dd5a480a617692e62de9038c4
- This special reward program can be paused or halted in the future
Bonus Rewards In Details
There are 3000 ALEPH tokens per day awarded to ALEPH LPs on Pancakeswap.
We calculate the reward per LP according to the amount of time each LP has been participating for and according to the size of their contribution to the pool.
The frequency were we send the rewards to LP is still to be determined. FYI it’s every week or two on Uniswap right now (March 2021).
Note that this special reward program can be paused or halted in the future. Of course we will give sufficient notice if that happens.
Why Should You Care?
Pancakeswap is the hottest AMM, with superfast transactions that cost almost nothing. Its volume sky rocketed and recently even overtook Uniswap.
Pancakeswap is pretty much a clone of Uniswap, except that it runs on Binance Smart Chain. It is much faster and transactions cost a fraction than on Uniswap — think 100x cheaper.
The whole space is currently entering a “protocol war” where much of the Layer 1 projects are now live and seeing their first AMMs running on them. BSC went faster than the many other “Ethereum killers” and entered very aggressively into the DeFi space with Pancakeswap. But many other very high profile projects are now counter attacking, the coming weeks and months should be quite fun :)
Pancakeswap Explained
Pancakeswap is a new generation of DEX (Decentralized Exchange): it is an AMM. AMM stands for Automated Market Maker, it is also called a Liquidity Pool Protocol. This new type of DEX was pioneered by Uniswap.
Simply put, the bread and butter of any centralized or decentralized exchange is liquidity. If an exchange has low liquidity, prices are bad and slippage is huge. This new type of DEX incentivizes participants to provide liquidity — to deposit funds in the exchange’s pools — by rewarding them a part of the fees collected on the trades.
Additionally, AMMs are different from regular DEXs as they are powered by an algorithm that determines the best possible price for any asset, but without the use of an order book.
Recommended Reads
- Aleph.im Blog: ALEPH Token Now On Binance Smart Chain And Listed On Pancakeswap
- Aleph.im Blog: ALEPH Reward Pools on Uniswap & Balancer
- Binance Blog: 6 Binance Smart Chain (BSC) Metrics You Should Know
