Symphony joins Polygon LM 2.0!
We at Symphony are extremely thrilled to announce that we are one of the 33 projects selected for the Liquidity Mining 2.0 by Polygon.
All thanks to our amazing community, who helped us achieve this great accomplishment in our short runtime.
Rewards from this campaign will be used to fast-track our development process and continue progress with our innovative approach to DeFi.
What is LM 2.0?
The second iteration of the liquidity mining program from the Polygon team under the “DeFi For All” campaign where the core development team is launching a $15 million campaign for decentralized applications (dApps) built entirely on Polygon over the next six months.
This initiative will be providing funding for specialized liquidity mining and protocol development efforts, as well as reward projects based on on-chain indicators.
To learn more about Polygon’s LM 2.0 check out this blog.
What is Liquidity Mining?
Liquidity mining is an incentive approach in which token holders invest their assets in liquidity pools to gain rewards.
Once the users lock their assets in the pool, they will receive liquidity provider tokens (LP tokens) in the amount of their initial contribution. These tokens can subsequently be used to participate in project governance or for other specified reasons.
Symphony is a DEX trader’s one-stop destination in which you could trade cryptos just as you do on CEXs like Binance, Coinbase, etc.
We revolutionized limit orders by combining them with yield farming, in YOLO our flagship product. To put it simply, you earn a safe yield while you wait for your orders to be filled at your desired price. Yes! you heard that right!
Have you tried out our dapp yet? If you haven’t, head over to Symphony.finance and feel the magic!