Tallinn, Sept. 1, 2021 — CardWallet, the first cross-chain non-custodial wallet and liquidity mining engine for Cardano, is pleased to announce its liquidity mining campaign. The campaign allows CardWallet (CW) token holders to provide liquidity to CW liquidity pools, which allows users to exchange USD Coin (USDC) for CardWallet tokens and vice versa. The pool participants will receive rewards from the trading fees that traders will incur while interacting with the pool.
Pool participants, known as liquidity providers, or LPs, get awarded proportionally to the amount of liquidity that they provide. For the CardWallet liquidity providers, all trading fees are relayed to the LPs. The CardWallet liquidity pool’s LPs receive 0.3% from each trade executed via the liquidity pool on Uniswap as a group. This percentage is further divided among LPs depending on a weighted distribution of the amount of liquidity provided.
Being a community-focused product, CardWallet has ensured that the LPs do not suffer due to a commonly occurring phenomenon called impermanent loss. That is why the annual percentage yield for CardWallet liquidity mining would be in the three-digit range during the first month (up until Oct. 5). This would ensure that our early supporters and community are rewarded right at the onset of the product. To get more details about the exact APY, you can visit the link here.
To understand more about the benefits and the process of liquidity mining, this video shows how it can be done on Uniswap for the CW/USDC token pair.
Tiago Serodio, CEO of CardWallet, said:
“It is really exciting to see CardWallet’s community shape up so nicely. Hopefully, those reading this will appreciate the opportunity for extra gains from our generous liquidity mining program, as well as an initial referral program. The wider the token distribution amongst holders, the healthier our project becomes.”
CardWallet’s liquidity mining campaign would be a huge opportunity for the CardWallet community members and early supporters to earn high returns using their purchased tokens.
Victoria Vaughan, the chief operating officer of CardWallet, said:
“These next few weeks are going to be very exciting for us, as well as for the entire Cardano community. We will be releasing our MVP product, a great liquidity mining campaign, a bonus referral program and the exciting Alonzo hard fork. 2021 will surely be a year to remember.”
CardWallet is a non-custodial wallet solution built for the Cardano blockchain and several other protocols, incubated by the Occam Association. With out-of-the-box support for Cardano native tokens and Visa, Mastercard and ApplePay fiat on-ramps, CardWallet is expected to rapidly become a major wallet provider for the entire crypto ecosystem. CardWallet’s strategic and technical partners already include Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund. Learn more at CardWallet’s website.
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