YouSwap Initiates Liquidity Mining

According to YouSwap official news, liquidity mining will be initiated on March 26

YouSwap liquidity mining will be officially launched on March 26th 18:00 (based on block height), and five trading pairs including YOU/USDT, BTC/USDT, ETH/USDT, YOU/UNI and YOU/LINK, will be activated.

It is reported that YouSwap is a new generation of on-chain DEX platform. Compared with other decentralized exchanges, YouSwap has many advantages, such as high fund utilization, low slippage, reduced exposure to impermanent losses, instant trading, low Gas fee and so on. On March 26, YouSwap initited liquidity mining for the first time. Users who deposit the currency of the specified trading pair on YouSwap platform according to the rules can get YOU as the benefit for providing liquidity.

The total supply of YouSwap’s protocol governance token YOU is 200 million, of which 60% is used for mining. In the first three months upon official launch, 4.8 million YOU will be released by mining every month. After that, the output will be gradually reduced. After 3 years, YOU will no longer be produced by mining, and mining rewards will be distributed with trading fees. YouSwap platform will charge 0.3% of the trading volume as the trading fee, and the platform will use 100% of the fee to buy back and burn YOU (until the total number of burnt YOU is 100 million), and the bought back and burnt YOU will be transferred to the black hole address and never circulated。