Empowering SIS: veSIS Holders’ Special Perks

Today we announce a reframing of SIS utility and additional perks for veSIS holders.

SIS token has been around since long before, and we’re deeply devoted to making it even more precious! Now, for all the fortunate holders of SIS and veSIS, exciting things are on the horizon.

We’ve come up with a 4-stage plan to enhance the existing SIS utility:

Phase 1: Liquidity Pool Rewards Exclusively for veSIS Holders

First things first, from now only veSIS holders will score big by providing liquidity in the form of stables or ETH on different chains to Symbiosis pools. They’re vital players in making swaps smooth and efficient.

In return, they get exclusive rewards and incentives, encouraging more users to join and boosting liquidity and stability in the Symbiosis ecosystem.

It’s discussed to be called Boosted APR. So, regular liquidity providers will receive commissions solely from trades occurring within the pool, whereas veSIS holders will additionally get SIS tokens.

Timing: August 2023

Phase 2: Gas Refunds for veSIS holders

We understand the significance of gas fees and their impact on users’ overall experience. As a gesture of appreciation towards veSIS holders, the platform has introduced gas refunds exclusively for them.

By refunding the gas fees (the amount of returned gas depends on the amount of veSIS) incurred during transactions, veSIS holders can save on costs and further enhance their participation in the ecosystem.

Timing: September 2023

Phase 3 & 4: Partner Incentivization and L2 Verified Pass

Those activities are to be covered in a separate post 👾

Timing: Q4 2023

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Bridging more utility to $SIS has always been among the top priorities for the team, as it ultimately signifies a long-term vision and associated devotion toward building Symbiosis.

Along the way, we’ll keep you in the loop for more features / veSIS updates coming.