🤑 Pillar Wallet launches Liquidity Mining Program
🤑 Pillar Wallet launches Liquidity Mining Program
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✨ Our liquidity mining program is one of the major initiatives we are spearheading to decentralize governance of the Pillar Smart Wallet, making it the first-ever truly community-owned wallet.
📈 Participants will earn governance weight over the Pillar DeFi Wallet… and the incentive structure means less risk and more rewards for PLR token holders.
🤝 The Pillar Foundation is providing a 1:1 match for the net outflow of PLR tokens of early participants. If a liquidity provider’s PLR balance goes down over the first week, the Pillar Foundation gives these tokens back in order to move the PLR balance back to the initial one.
💰 That means you’ll have the same number of PLR... and more ETH. In other words, we’ve temporarily eliminated the risks associated with liquidity mining.
🚀 The more liquidity you provide, and the longer you are in the pool, the higher your rewards.
Learn more and join the mission! 👇
https://blog.pillarproject.io/post/first-liquidity-mining-program-smart-wallet
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Lastly, correct me if I'm wrong, PLR tokens are used to transact within Pillar wallet without fees? Which then can be exchanged into any other asset supported by the wallet. Thanks!
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So, If I understood correctly, by owning liquidity of whatever asset supported by Pillar wallet, I will be rewarded with PLR tokens? Or I need to be a big company who can become a liquidity provider by offering 10K+ of tokens or other assets? Or maybe I'm getting something wrong?