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Following the successful integration of the Ethereum blockchain into Stratis InterFlux, the wSTRAX Token is now available on Uniswap! A USD 50,000 prize pool has been made available to celebrate the launch of the first wSTRAX liquidity pool, rewarding those who add liquidity to wSTRAX/ETH pair pool.
To participate, liquidity providers must meet the following criteria:
Adding liquidity is simple and can be achieved by following the below guide: https://coinmarketcap.com/headlines/news/uniswap-liquidity-pool/
wSTRAX can be simply obtained through the existing pairing on Uniswap, located here: https://info.uniswap.org/pair/0x385de7c3116cd56745493f49b16e6f1abe13ec4b
Alternatively, STRAX Tokens (available on multiple major cryptocurrency exchanges) can be trustlessly exchanged for wSTRAX using the STRAX Wallet 1.2.0, as seen below.
Rewards will be gained on a weighted basis. A total amount of qualifying liquidity will be obtained, enabling us to ascertain the prize pool fund per wSTRAX provided in the liquidity pool. The below example presents the logic that will be used to distribute rewards:
4 x 75,000 wSTRAX qualified liquidity providers
USD 50,000 (Prize Pool) / 300,000 (Qualified wSTRAX) = USD 0.16666666 per wSTRAX
Reward distribution = USD 12,500 per liqudity provider
The integration of Ethereum into the Stratis InterFlux solution and the subsequent issuance of the wSTRAX token ushers in a new era for Stratis – Laying the blueprint for Stratis’ to integrate other public and private blockchains facilitates further utility of the STRAX token and creates new business opportunities as the power of Stratis Technologies is demonstrated.
The post wSTRAX UniSwap Liquidity Competition appeared first on Stratis Platform.
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