AirdropBusinessCrypto ExchangesDeFiDEX

DeversiFi DEX Announces New Token and Airdrop

DeversiFi, a layer 2 DEX backed by Bitfinex, ConsenSys, and Ledger, has announced a new governance token and airdrop.
DeversiFi Token Expected Later This Year
DeversiFi, previously Ethfinex, has introduced DeversiFi Token (DVF), an ERC-20 governance token for its built on StarkWare.
DeversiFi Token (DVF) will have a total supply of 100 million, according to the token contract shared in the official blog post.
The team says it would give out ~50% of the token supply as rewards to liquidity miners and traders to incentivize adoption.
The new DVF tokens will need to be staked on the DEX to acquire governance voting rights and be eligible for a share of fees. The DEX fees will be divided between token holders and liquidity providers.
Interestingly, DVF is not the first token for the project. Up until now, Nectar Token (NEC)–the native token of DeversiFi’s governance body Nectar DAO–has been used.
NEC tokens were, however, highly concentrated between a few large holders–Bitfinex, DeversiFi, and others controlled more than 90% of the token supply.
Thus the team agreed to issue a new community-driven governance token to replace NEC tokens. This time, the team ensured the majority of its token supply is reserved primarily for the community.
This includes liquidity mining incentives and an airdrop for both previous and future DEX users, the team informed.
“Community is more about where you will go in the future together. That’s why DVF token is designed with 50%+ of supply allocated to future community, users, and liquidity …
Story continues on Crypto Briefing

Related posts
BitcoinBusinessCryptodawn fitzpatrickgoldsoros

Soros Fund Invests in Crypto, Citing “Real Fear” Around Fiat Supply

Soros Fund Management CIO Dawn Fitzpatrick commented on cryptocurrency on Thursday, stating the fund had been making investments throughout the space. Fiat Crisis Boosted Bitcoin, Says Soros CIO Chief investment officer Dawn Fitzpatrick oversees $27 billion for Soros Fund Management….
decentralzied exchangeDEXMarketsSushiSushiSwap

SushiSwap Launches New Lending and Margin Trading Platform

SushiSwap will allow margin trading of some crypto trading pairs that are not available in the market due to lack of liquidity. The move has seen many mid-sized whales enter the network in anticipation of a bullish impulse.  Making the…
Cointelegraph.comDeFiSushiSushiSwap

SushiSwap launches margin trading with long-awaited Kashi release

SushiSwap wants to offer a wider net of margin assets than independent DeFi lending platforms. Decentralized exchange SushiSwap has released Kashi, a specialized lending platform specifically designed for margin trading on the exchange. Kashi lets traders borrow assets for creating…