New Liquidity Mining Pool Pair — Bitcoin Cash / DFI
Today we would like to announce a few things regarding the upcoming Bitcoin Cash liquidity mining integration. Firstly, the DeFiChain App will be accepting Bitcoin Cash deposits starting on Tuesday, 09 March 2021.
Secondly — similar to the previous liquidity pool launches — DeFiChain will also be implementing an initially reduced incentive for the BCH liquidity pool this time. Thus, the liquidity mining rewards will be reduced to 0.01 DFI / block during the first week starting on Wednesday, 10 March 2021 — this reflects a temporary reduction to 1% of the actual value.
The reason for this is simple: DeFiChain wants to give all its users equal opportunities to participate in liquidity mining. Furthermore, users who have never used liquidity mining before should be given enough time to get familiar with it.
Starting Wednesday, 17 March 2021, DeFiChain will then be increasing the liquidity mining rewards to 1 DFI / block — following through with the DFIP#6 proposal (https://github.com/DeFiCh/dfips/issues/8). This equals to an increase in liquidity mining rewards by a factor of 100 and will again lead to returns exceeding 200% APY.
In order to be prepared for this launch, we recommend you to download the DeFiChain App here (https://defichain.com/dex/). Alternatively you can also use the out-of-the-box liquidity mining service from our trusted partner Cake by signing up an account with them here (https://www.cakedefi.com).
Your DeFiChain Foundation