1inch developers announce the second phase of yield farming on Mooniswap

Among liquidity providers in four Mooniswap pools, an additional 1% of the native 1INCH token supply will be distributed by year-end. The first phase began in August after its integration into the 1inch liquidity aggregator—the Mooniswap automated market maker (AMM).

In a widely circulated press release, the developers emphasise that the second phase of liquidity mining is based on feedback from users who participated in the first stage.

Liquidity providers in the following pools will be eligible for incentives:

• ETH – WBTC;
• ETH – USDC;
• ETH – DAI;
• ETH – USDT.

The second phase will commence on November 18 at 16:00 UTC and will not affect the course of the first.

“To ensure maximum transparency in distribution, we will provide an information panel that will display the exact number of tokens received by each user,” said Sergey Kunts, co-founder and CEO of 1inch.

Liquidity providers in the four pools will receive 1INCH after the native token is released.

Its size depends on the amount of tokens contributed to the pool and the elapsed time since that moment.

Earlier in November, the 1inch developers unveiled the second version of the platform with a new algorithm for identifying the best swap opportunities in short order.

The project announced integration with the popular Ethereum wallet MyEtherWallet (MEW).

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