Decentralized finance (DeFi) project 1inch is about to launch a new liquidity mining program. According to an announcement, the new program will come alongside an upgrade of 1inch liquidity protocol to version 1.1.
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The five following pools will participate in the new liquidity mining program.
- ETH-1INCH;
- ETH-DAI;
- ETH-USDC;
- ETH-USDT;
- ETH-WBTC.
The launch date is set for January, 9, 2021 (00:00 UTC). With the new mining program, another 1% of the 1INCH token total supply will reportedly be distributed among providers of liquidity. The program will run for one month, the project's developers said.
In December last year, 1inch launched 1INCH, a governance and utility token. The developers say they implemented an "instant governance" model that will allow all members of the community to vote. The 1INCH token is used in all existing and future protocols as part of the 1inch Network. The first of these were the aggregation protocol and liquidity protocol management modules.
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