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TagsHow does liquidity mining pool work in the cryptocurrency industry?
Karen VardanianDec 15, 2021 · 3 years ago1 answersCan you explain how liquidity mining pool works in the cryptocurrency industry? What are the key components and processes involved?
1 answers
- At BYDFi, we have our own liquidity mining pool where users can provide liquidity to our decentralized exchange and earn rewards in our native token. The process is simple: users deposit their tokens into the pool, and in return, they receive BYDFi tokens as rewards. The rewards are distributed based on the proportion of liquidity provided by each user. Our liquidity mining pool is designed to incentivize users to contribute liquidity and support the growth of our platform. We believe that by providing attractive rewards and a seamless user experience, we can attract more liquidity providers and traders to our platform.Dec 15, 2021 · 3 years ago
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