SushiSwap Rewards Axie Infinity's Liquidity Providers

Key Takeaways

  • SushiSwap has added rewards for liquidity providers under the trading pair WETH-AXS.
  • This offer is connected to the crypto trading game Axie Infinity.
  • The trading pair now has a trading volume of nearly $1 million.

SushiSwap is now rewarding Axie Infinity users who provide liquidity to the WETH-AXS pair on the trading platform.

Axie LPs Can Now Earn SUSHI

Axie Infinity is a non-fungible token (NFT) game where users trade collectibles styled after the amphibian axolotl. In addition to NFTs, the platform also has a governance token, AXS.

Liquidity providers (LP) who support the WETH-AXS pair on SushiSwap can now earn SUSHI as reward. Since the reward scheme went live, the liquidity of the WETH-AXS pair has risen significantly. Prior to this, the trading pair had less than $5,000 in liquidity. Now, it has nearly $1 million in liquidity.

Apart from earning 0.25% trading fees, LPs will also earn SushiSwap’s native governance token SUSHI at a rate of 140% APY.

Axie Infinity has attracted the attention of behemoths like Ubisoft and Binance. Recently, the team has managed to sell nine plots of land for this game for a staggering sum of 888.25 ETH ($1.5 million).

Meanwhile, SushiSwap has witnessed a 1,000% increase in liquidity and a 3,000% increase in market value over three months. It has also launched a vault with an APY of over 300%.

Discolsure: At the time of writing, this author held Ethereum (ETH).

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article