Blockster, an all-in-one crypto platform, has launched a program to reward liquidity providers for its native token, BXR. The program will distribute 2 million BXR on Uniswap (UNI/USD), which is approximately equal to $1 million. According to CoinFi, Uniswap is a leading decentralized exchange built on top of the Ethereum (ETH/USD) blockchain.
Users are rewarded for creating BXR/ETH pool tokens.
Users will be rewarded in BXR for creating BXR/ETH pool tokens on Uniswap. They can then use these tokens to participate in the rewards staking program. BXR empowers Blockster’s entire ecosystem by allowing payments for staking, marketplace sales, advertising, community governance, free P2P transfers, and other important features and uses on the Blockster roadmap.
The platform will distribute 166,000 BXR per month.
The liquidity percentage introduced by each user will determine how the BXR rewards are distributed. The rewards account for 2% of the token’s total issuance. The program begins today and will last a year. The platform will distribute 166,000 BXR to all ETH and BXR token holders on a monthly basis. They can withdraw their BXR/ETH pool tokens at any time and will continue to earn rewards on a daily basis.
The amount of the reward and the time period for which liquidity is maintained in Uniswap pools are directly proportional to the number of rewards a user will receive.
Uniswap is on a positive trend.
In other news, Uniswap’s trajectory was bullish on Sunday, as the coin broke through the previous swing high and gained momentum. Today, it could see even more gains. According to CoinFi, the next resistance level will be at $28.50. If the bullish trend continues, further gains to the $32 and $34 resistance levels are possible.
Uniswap hires Barack Obama’s press secretary to manage media relations and communication.
Last week, it was revealed that Uniswap Labs had hired Hari Sevugan, a former senior spokesperson for Barack Obama, to manage the company’s media affairs, among other things. On October 14, Sevugan was appointed.
Hayden Adams, the founder of Uniswap Labs, hired him to assist with crypto regulation issues and to lead the company’s public communication efforts. Among these efforts will be the development of communications for current, potential, and new users.