The cross-chain liquidity protocol Symbiosis Finance has launched the veSIS network and announced a stakeholders competition with a total prize pool of 35,000 SIS.
Users will receive rewards for locking SIS tokens on a dedicated contract for a period of 1 month to 4 years.
The prize depends on the stake size and the fee charged from liquidity pools owned by Symbiosis. Rewards accrue weekly. SIS tokens remain locked in the contract and can be withdrawn once the lock-up period ends.
The contest will run from September 5 to September 18.
Winner categories:
- 50 winners in the category “up to 1000 SIS” — 50 SIS prize to each winner;
- 25 winners in the category “up to 2000 SIS” — 200 SIS;
- 10 winners in the category “up to 5000 SIS” — 650 SIS;
- 4 winners in the category “up to 10,000 SIS” — 1500 SIS;
- 1 winner “from 10,000 SIS to 50,000 SIS” will receive a jackpot of 10,000 SIS.
Winners are those who recorded the largest amount in the category.
To participate in the contest you must:
- log in to the Symbiosis Finance app;
- lock at least 100 SIS for a term of not less than one year;
- The lock must remain valid until the end of the contest, September 18, 08:00 Kyiv time.
Winners will be announced on September 19, and rewards will be distributed within 24 hours from that moment. The tokens will be issued to the addresses with locked coins.
The Symbiosis Finance team will also randomly distribute an additional 5,000 SIS. To participate, retweet the news about the veSIS mainnet launch and tag three friends in the comments.
In Q4 2022, the launch of the second version of the Symbiosis protocol v.2 is expected. It will feature a governance network, capital-efficient stablecoin pools, an expanded network of relayers, and much more.
In August, Symbiosis Finance struck a partnership with the Telos blockchain, which gave users access to scalable dapps with low fees.
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