Phunware, Inc. , a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today the launch of its PhunToken (PHTK) liquidity pool rewards program for an Ether (ETH) – PHTK trading pair at Uniswap V2. PHTK is currently available for purchase here with US Dollars (USD), Bitcoin (BTC) or ETH.
The liquidity pool rewards program is expected to launch next month and the first reward will be distributed in April to eligible whitelisted wallets. These rewards are paid in PHTK to every eligible liquidity provider that locks ETH and PHTK on Uniswap for at least 30 days. These rewards are in addition to the anticipated 0.3% fee liquidity providers typically get from Uniswap trades on trading pairs they provide liquidity to in the market.
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“We are thrilled to take this important next step in commercializing a truly decentralized data economy that can access and utilize all of the features and capabilities of our Multiscreen-as-a-Service (MaaS) platform,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “Decentralized exchanges like Uniswap will help us further decentralize PhunToken and further extend access to MaaS functionality globally, but it’s important that we take the added step to KYC/AML each of our liquidity providers through this simple registration process.”
By incentivizing PHTK holders with rewards, the Company expects to provide the necessary liquidity to not only foster a healthy ecosystem, but also more rapidly accelerate the global decentralization of PhunToken.
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How to Become Eligible
- All participants must successfully complete the KYC/AML process and provide at least 1 ETH of liquidity plus 1 ETH equivalent of PHTK tokens.
- Each qualifying liquidity addition is only eligible for rewards 30 days after being added.
- All eligible liquidity providers will split the reward pool pro rata.
- If ETH-PHTK liquidity is removed at any point during the initial or subsequent lock periods, all previous liquidity for that lock period is disqualified and a liquidity provider must wait 30 days from the next time qualifying liquidity is added in order to requalify for rewards.
- Only liquidity providers holding the LP tokens (UNI-V2) in a whitelisted wallet will be eligible for rewards.
The liquidity pool rewards program is expected to be automatically renewed on a monthly basis unless declared otherwise by the Company. The Company has plans to launch similar programs on other decentralized exchanges (DEXs), including SushiSwap, in the future.