Cake DeFi's Next Ingredient: Litecoin Liquidity Mining! 👨🌾
Hey bakers,
Today, we are excited to announce yet another ingredient will be added to the baking tray at Cake DeFi very soon: Litecoin Liquidity Mining!
As announced by DeFiChain, a Litecoin Liquidity Pool will be launching on Tuesday, February 2nd at 11:00 UTC. Deposits will be possible a few hours earlier already.
Cake DeFi has already begun baking the integration, so you can start liquidity mining on Cake the instant we close the door to the oven — or when the liquidity pool launches on DeFiChain!
Just like last time, when we launched Bitcoin, Ethereum and USDT Liquidity Mining, during the week of the launch, Liquidity Mining rewards will temporarily be kept at 1% (0.02 DFI / block) only.
Why, you ask? We do this for a simple reason — so that everyone is given a fair chance to be able to participate in the pool (especially when rewards are increased), and enough time to understand how the system works.
From Tuesday 9 February, 2021 and onwards, Liquidity Mining Rewards will be increased and then we're really cooking, offering 100x the initial return: that's a whole 2 DFI / block in Liquidity Mining rewards!
This is a big one, so get ready... Time to don your apron, put on your chef hat, deposit your Litecoin to Cake DeFi and let's get the dough rolling!
Happy baking,
Your Cake Team