Crypto wallet service provider xRaise recently shared an exciting announcement for liquidity providers (LP). The gaming wallet has launched a new rewards program for liquidity providers, offering significant incentives for those participating in the RAISE/ETH pool.
How much is up for grabs? According to their tweet, a total of 100,000 $ZK tokens is up for grabs. The xRaise rewards program promises to reward users based on their contribution to the pool and their commitment. $ZK is the native zkSync token and xRaise is part of the zkSync ecosystem.
The program is part of xRaise’s attempt to kickstart its liquidity by rewarding those who provide funds for its trading pools. xRaise has successfully developed a gaming wallet with good on-chain UX.
First wave of rewards
The first wave of rewards will be distributed using a snapshot system. The next snapshot date will be on August 14, 2024. Only participants who have added liquidity to the RAISE/ETH pool on SyncSwap will be eligible. Furthermore, the criteria for rewards will be based on the duration and the amount of liquidity provided. This system ensures fair distribution among liquidity providers.
How to participate
The participation steps are pretty simple:
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Add Liquidity: Visit the SyncSwap pool and add liquidity to the RAISE/ETH pool.
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Stake LP Tokens. Once you have added liquidity, prepare to stake your LP tokens on the xRaise platform, which will be available soon.
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Earn Rewards. By participating, you can earn impressive $ZK rewards with an annual percentage rate (APR) of up to 1000%.
Note: xRaise plans to take monthly snapshots to determine reward eligibility. This also ensures continued engagement. And it also provides opportunities for participants to earn $ZK tokens.
A part of the ZK ecosystem
xRaise goes beyond being your regular smart wallet. It handles all things gaming, letting you maximize your gaming experience. Built on zkSync, xRaise uses some advanced techniques that other wallets don’t have to provide security and ease of use. Plus, it is also compatible with all zkSync dApps. And it can handle complex DeFi tasks.
Whether you’re managing digital assets or diving into blockchain games, xRaise has got you covered. Their rewards program is also part of their strategy to boost community engagement. The team has been working hard on their development plans. They outlined the following as some of their forthcoming plans:
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New gaming partner integrations
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$RAISE staking and earn mechanisms
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Continued product development
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Roadmap updates and milestones
Stay tuned for more updates.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by xRaise.
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