Balancer SNX/USDC liquidity trial

Balancer SNX/USDC liquidity trial

The synthetixDAO is funding a four week trial of an SNX/USDC liquidity trial on Balancer, a new Automated Market Maker (AMM) liquidity protocol. One of Balancer’s exciting new features is Liquidity Bootstrapping Pools (BLP’s), which allow for an 80/20 or 90/10 split between assets, enabling the creation of a pool providing liquidity for a particular without the capital restraints of matching its value 50/50 with ETH or a stablecoin.

The SNX/USDC liquidity trial will be a pool consisting of 90% SNX and 10% USDC, which can be accessed here. The synthetixDAO will incentivise liquidity providers with 8000 SNX of rewards per week. Please note that liquidity providers on Balancer may also be eligible to receive the BAL token as part of its distribution scheme (more details here).

Once you provide SNX/USDC liquidity on Balancer, you’ll need to stake your BPT tokens through Mintr into the LP Rewards staking contract as pictured below. Rewards will be sent out manually each Friday at around 1am (UTC).

Balancer SNX/USDC liquidity trial

If you have any further questions about Balancer or how this incentive works, come join the conversation in Discord!

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