Unibright is pleased to announce that we will be incentivizing a Liquidity Mining Pool on arrakis.finance where liquidity providers can earn their share of trading fees as well as additional UBT. The pool will be available on Polygon for UBT/ETH.
After the successful launch of Unibright ONE, we want to strengthen our utility token UBT, which is needed for Unibright ONE, Baseledger and all other products and services offered by Unibright. Robust liquidity for UBT is a desired feature for widespread enterprise usage of all UBT-powered offerings.
To begin with, we have allocated a minimum of 100K UBT in rewards to help establish and maintain liquidity pools on Polygon, which has much lower gas fees than Ethereum, as well as improve the overall liquidity for the UBT token. The most widely traded pair is currently UBT/ETH so this has been chosen for the Arrakis Vault.
We will deposit six figure numbers of UBT throughout the year 2023 into the pool in different batches. The deposited rewards are automatically paid out via the pool during a 28 day period following the deposit. Our idea is to significantly add more rewards to the pool, should the TVL (liquidity in the pool) reach certain levels.
Programmatic Tools like Arrakis will help to strengthen UBT and build liquidity for UBT. As Unibright ONE has just launched and will receive several updates and upgrades through the next months and years, we are very positively looking forward to the further evolvement of the UBT ecosystem!
About Arrakis: Arrakis is a liquidity management protocol built on top of Uniswap V3. With Arrakis, a project or individual can create a vault that allows liquidity to be managed in an automated way on a concentrated liquidity DEX (i.e., Uni V3). The “vault” is a Uniswap V3 position–an ERC-721 (NFT)–that is fractionalized and represented by ERC-20 tokens for those who deposit into the vault. This feature allows projects and users to provide liquidity through Arrakis and enjoy a user experience that mirrors that of depositing into a Uniswap V2 pool. More can be read about the protocol, their docs and audits on arrakis.finance
About Unibright: Unibright is a team of blockchain specialists, architects, developers and consultants with 20+ years of experience in business processes and integration. Unibright offers consulting with Unibright Solutions, Enterprise-grade Multi-Party-Synchronization with Unibright ONE, low-code-integration tools with the Unibright Framework, programmable DeFi with Unibright Freequity, and the Universal Business Token UBT. Unibright is engaged in the Baseline Protocol, offers Baseledger as a solution to orchestrate and trust-enhance B2B processes and offers ERP-Blockchain-integration with Partners like concircle.