The NEAR Protocol is launching a groundbreaking liquidity farming initiative on September 14th, Ref Finance.
The pool has many extra benefits available to farmers in the first two weeks. You can buy SWEAT and NEAR tokens and become a liquidity provider.
By participating in this pool, you will receive rewards in two ways: Your swap fee revenue will be generated from your liquidity position.
Ref Finance will distribute 15,000 $NEAR, 20,000 $REF, and 5.2 million $SWEAT to farmers for the first two weeks.
For liquidity providers, depositing tokens with a decentralized exchange (DEX) provides liquidity to individuals seeking to switch tokens in return for yield and rewards.
You can buy SWEAT (NEP-141 preferably) in several exchanges. It does not matter if you do not yet have the required crypto since you can provide liquidity on DEXs.
Ref Finance is a DeFi platform that can be used for various functions as it handles rewards and payment platforms. Ref Finance offers farmers a chance to win massive rewards in two weeks.
Everyone can access and buy SWEAT and NEAR cryptocurrencies and become liquidity providers. Participants could earn considerable amounts in less than two weeks of operation in a pool supplying liquidity.
Farming or Yield
Farming or Yield is defined as staking LP tokens into farms and making additional cash rewards for your existing liquidity positions. Like pools, each farming operation is contained under a single agreement.
Project owners usually use liquidity incentives to attract liquidity or facilitate trade. LP token holders can continue generating trading fees by investing in the same liquidity pool for farm operations.
The liquidity provisions are methods by which you can deposit tokens in the DEX. Finally, the tokens provide liquidity for users seeking to exchange their tokens. You get a reward in exchange for liquidity as you get the returns on investment.
The Sweat token
SWEAT token is a unique cryptocurrency mined using movements. Holding sweat offers many advantages: it allows you to put money into a fund with an impressive yield and also grants you a free upgrade to the SweatWallet app. Read the full sweatcoin review.
NFTs & Games
Is this possible? The SweatWallet app is built to be fun and dynamic. Users stake SWEAT while they play. SWEAT is a net deflationary token. Ultimately, the game has the purpose of having fun!
Sweat is a way for a user to unlock a specific feature. SWEAT has premium features that can be easily accessed with no transaction fees or daily mint limit increases.
Users stake SWEAT in the Sweat wallet application to gain a good % profit and rewards. Rewards are tied: Users stake more money and get better rewards. “We believe in rewarding people with what they really want.”
Statement; the burning process of 50% of The Sweat Foundation’s profit
The Sweat Foundation has published a post on Medium detailing how Sweatcoin’s burning process will function.
The post states that 50% of SWEAT foundation profits will be repurchased from other markets and burned, decreasing the total supply of Sweat Economy (SWEAT) tokens.
This approach will help maintain ‘sustainable economics’ as ‘mass adoption occurs,’ according to the post. Each burning process will be documented and published by the Sweatcoin Foundation.