OneLedger is pleased to announce the launch of our liquidity pool reward program at 10AM EST on Monday, November 29th 2021!
We will distribute sOLT tokens to our sOLT/USDT liquidity providers on Uniswap, bootstrapping the necessary liquidity to minimize costs, reduce slippage, and build long-term value for our ecosystem. Individual liquidity providers will receive their portion of the pool based on their percentage of contribution of the total pool. Rates are calculated in real-time on the dashboard, (as shown below) for the providers to see when they complete their transactions.
Uniswap uses liquidity pools to enable large trades on its platform; they are a fundamental component of decentralized finance. Importantly, our reward program operates in addition to the standard 0.3% fee that liquidity providers already get from Uniswap. This is our way to reward system participants with passive income for locking USDT and sOLT on Uniswap.
How do I get started?
Visit the LP reward program application : https://elp.oneledger.io
You only need to add your liquidity to the proper trading pair on Uniswap in order to participate to get sOLT-USDT SLP token. After that you could provide your SLP to our Liquidity Rewards Platform. At this point, you only need to sit back and collect your share of the liquidity rewards. Qualifying liquidity providers will split the total reward by the percentage of liquidity they’ve provided to the pool!
What happens if I withdraw from the liquidity pool?
If you withdraw your assets, you will be able to withdraw any accumulated rewards, your SLP tokens without locks or penalties.
When does the program start, and how long will it run?
Our rewards program will start on November 29th, running for 30 days in the first instance. We reserve the right to modify the program at any time and for any reason. We’ll be communicating every step of the way so that no one is caught unaware by a surprise decision.
How soon after the deposit do I see my rewards?
Rewards are calculated in ‘real time’ on our unique dashboard. It will be calculated every second what rewards are accumulated based on your percentage stake.
- OneLedger is launching our Uniswap Liquidity Rewards Program, effective 10AM EST 29th, November 2021
- To join, add your liquidity to the proper trading pair on Uniswap in order to participate
- sOLT tokens will be distributed as a reward to Uniswap Liquidity Providers (LPs) to be shared in % proportion to your contribution to the pool
- No Tokens Locked - none
- You will be eligible for rewards distribution immediately from the date of your contribution
Find more information with the image tutorial: https://docs.oneledger.io/docs/elp/getting-started
Watch the tutorial :
What is sOLT?
The native currency on the OneLedger is OLT token. In case of Ethereum it's pegged representation will be sOLT (means syndicated). So sOLT token is syndicated token and native OLT is donored. In combination it represent the following schema for user when effecting a cross-chain transfer from OneLedger to Ethereum:
- Locking OLT amount on the OneLedger bridge;
- Obtain syndicate signatures for proof;
- Ethereum bridge mints syndicate token representation in the same equivalent as sOLT token;
So it is always 1-1 representation for the token. The next scenario, when user wants to get a donored token back, next schema will be applied:
- Ethereum bridge burns sOLT syndicate token representation;
- Obtain syndicate signatures for proof;
- Unlock OLT amount on the OneLedger in the same equivalent;
What is the Syndicate Bridge?
Your first Syndicate OLT - Video
Syndicate is a blockchain application that provides a transition of tokens between EVM chains. Our team worked hard on the implementation of a Nexus bridge to develop a transition between multiple chains at once.
Architecturally, the beauty of the Syndicate bridge is its simple, straightforward design which features fast, cheap transactions for the token transferring between EVM chains.
OneLedger is a new generation of multi-chain protocol that provides an efficient cross-chain engine. It helps individuals and businesses achieve cross-chain transactions through side-chains. At the same time, OneLedger also provides evm compatible virtual machine and SDK development tools for enterprise developers. Thus, it can be used to build business modules that serve multiple business purposes. Furthermore, all interactions with the public and private chains occur on the side-chain, significantly increasing the efficiency and security of the cross-chain interactions.
For the press kit, click here.