We are very excited to announce the launch of the $LGO token liquidity reward program.
We’ve been impressed by the recent development of the DeFi ecosystem, and particularly with the rise of decentralized liquidity pools such as Uniswap. We’ve also watched closely how projects such as Aragon and Synthetix have implemented with success their own liquidity rewards program.
Liquidity is a concept that we are very familiar with. We’ve built the LGO spot exchange and OTC platform with liquidity at the core of our offer, creating partnerships with the industry’s most prominent liquidity providers, such as our friends at B2C2. However, one thing which is key in our ecosystem is a healthy and deep liquidity on the $LGO token for our community members and clients. The $LGO token is the ecosystem token at the center of our exchange and OTC platform, as described here.
We’ve watched with fascination what happened the past few weeks on Uniswap, and more generally in the DeFi space and are excited to participate in this (r)evolution of capital markets.
To this end, we will start experimenting with our liquidity program from August 27th, 2020 10:00am UTC to September 26th, 2020 9:59am UTC.
During this 31-day period, we will distribute 2,000,000 LGO tokens as a reward to liquidity providers for the LGO/ETH pool on Uniswap V2.
The tokens distributed through the liquidity rewards program will be taken from our $LGO Token incentive pool, which contains a bit more than 20,000,000 $LGOs. If this initial 31-day experiment is successful, we expect to further incentivize liquidity providers on the $LGO token, with more tokens, more liquidity pools and for a longer period of time. As a measure of success, we will look closely at the evolution of available liquidity on the LGO/ETH Uniswap v2 pool and more particularly its depth and sustainability.
If the $LGO liquidity rewards program is successful, we will look into extending the utility of the $LGO token and developing DeFi services for $LGO token holders.
We are currently running the $LGO liquidity reward program on the Ethereum testnet. If you'd like to participate, please reach out on Discord server.
The LGO Team
LGO is the leading Bitcoin spot exchange and OTC platform for institutions. Live since April 2019, they are trusted by over 60 institutional counterparties across 15 countries. With a boutique approach, they provide a suite of fully customizable services, best in class technology, and deep liquidity. For more information please visit https://lgo.group.
The LGO Token is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in LGO Tokens.
LGO makes no representation or warranty that the LGO Token or the liquidity mining program is appropriate for use in all locations, or that the transactions and services related to the Token are available or appropriate for entry into or use in all jurisdictions or by all parties. LGO is not responsible for legal or tax consequences to you of transacting in LGO Tokens or participating in the liquidity mining program. You should inform yourself as to the legal requirements and tax consequences of transacting in the LGO Token and participating in the liquidity mining program. By participating, you represent that your purchase or participation complies with local laws and regulations and you fully understand the risks associated with such transaction.