Sophon, a blockchain network specializing in entertainment through the use of zkSync technology, has embarked on an exciting new venture. The platform has announced the launch of a liquidity farming project that allows individuals to participate and earn $SOPH tokens. The company has set aside a total of ten percent of the overall $SOPH token supply for this initiative.
Sophon Commences Liquidity Farming, Allowing Users to Acquire $SOPH Tokens
Users who contribute to the total value locked in Sophon can partake in the rewards. To do so, they can deposit specific eligible assets into the designated farming pools on the platform. Participants in the farming project will receive rewards in the form of “Sophon Points.” A key feature of Sophon’s farming pools is the booster program, which allows users to potentially increase their rewards on their deposits.
The Booster Enhances Deposit Value by 5x
Users have the option to activate a booster by permanently locking a portion or all of their deposited assets. This means that the deposited assets will remain in Sophon permanently, and depositors will not be able to withdraw them. The booster program can multiply the deposit by up to five times, with the assets used to activate the boosters being permanently allocated to provide liquidity.
The primary assets available for deposit include BEAM/ETH LP and BEAM. Additional farming pools will be introduced over time. Sophon has reserved up to ten percent of the total $SOPH token supply for liquidity farming, aiming to attract a large number of participants.
Rewards in the form of SP will be accrued in real-time for participants. Users can track their accumulated rewards through Sophon’s Farming Portal. The rate of reward accrual varies by pool, with the amount deposited by a user influencing the overall accrual rate in that specific pool.