(MENAFN- News Direct)
London, UK | June 21, 2022 05:00 AM Eastern Daylight Time
After holding successful user promotions such as“Embark on Your Cube Journey” and“Flash Mining”, new upstart DEX Capricorn is launching a Bonus Week to commemorate its successful launch on Cube Network.
-figcaption How to participate in Bonus Week All users can participate, and all product features are open to customers. Bonus Week will launch in tandem with Capricorn's launch on Cube Network's Mainnet and will last for two weeks. Opening time: 14:00 (UTC) on June 21, 2022 Campaign time: 14:00 (UTC) on June 21, 2022 to 14:00 (UTC) on July 05, 2022 Capricorn's CORN token output will be increased by 50% during the Bonus Week. During inactive periods, the pool's output is typically 45 CORN per block, but during active periods, the output will increase by 50%. When the Bonus Week ends, output will return to normal. The following trade pairs can be supported during Bonus Week
Why participate in Bonus Week? Industry-leading Mining Rewards
As we all know, with DeFi projects the APY (Annual Percentage Yield) of each pool changes with the total number of pledges in the pool, and the relationship between them is inversely proportional. So when there is only one user in the pool, that pool's revenue for that day will belong exclusively to that user, and as more and more people enter the pool, the APY will gradually decrease. So based on the fact that Capricorn has just gone live on the mainnet, user yields are likely to be high in the short run.
In addition to industry-leading mining rewards, the output of CORN tokens will be increased by 50% during the Bonus Week. This means that during inactive periods, the pool's output is 45 CORN per block, but during active periods, the output will increase by 50%. First-mover advantage
Recently, Ethereum's price fell below $1,000. Its price has been decimated over the past year, and Bitcoin also sank to $20,000 and hit its lowest point since December 2020. Many other mainstream tokens also saw steep price declines. But despite a challenging market environment, Cube Network token CUBE grew by nearly 240% since its June 9 launch date.
In addition to Cube Network backing, Capricorn also received US$300 million in liquidity investments from Ivy Blocks, Huobi's crypto asset management arm which manages billions in assets.
So as the first DEX to launch on Cube Network, there are enough reasons to believe that Capricorn will perform well on the secondary market.
At the same time, Capricorn's token distribution mechanism and reduction mechanism also show that its CORN token benefits from a stable and strong deflationary system. Burning of CORN tokens will be 100% controlled by the community's on-chain governance voting and implemented by its operations team, with the size of each reduction determined by voting outcomes.
If you'd like to learn more about Capricorn, you can visit its official website here . If you want to get in touch with the Capricorn team, you can check out its Twitter channel or Telegram group , as well as follow its Medium blog for the latest updates.
Capricorn is the first protocol incubated by Gringotts Labs, which plans to roll out a matrix of DeFi projects to accelerate the expansion of the Cube Chain ecosystem. As the debut protocol of Gringotts Labs, Capricorn will provide multiple on-chain services for all crypto players, who will be able to trade CRC-20 tokens, provide liquidity to earn trading fees, stake LP tokens as well as Capricorn's governance token CORN, and also purchase new project tokens on this platform.
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