Cash Tech Launches Liquidity Staking Initiative

June 11, 2021     3 minutes

1,000,000 CATE tokens will be rewarded to Cash Tech liquidity providers on a monthly basis — up to 24,000% APY

Cash Tech is launching a lucrative liquidity mining program that will make 1.0 million CATE available to liquidity providers on a monthly basis. Cash Tech is a multi-chain wallet solution that encompasses diverse functionality including the ability to spend assets with merchants, a DeFi services aggregator, and NFT storage.

Liquidity providers play a critical role in ensuring that a liquid marketplace exists for the Cash Tech token. For this reason, Cash Tech has allocated a significant number of CATE tokens to rewarding these actors.

The latest liquidity mining program will begin on June 15th and will run for two months initially. 1.0 million CATE tokens will be allocated proportionally to liquidity providers who allocate their capital during this timeframe. Please check out the form for all details.

The Cash Tech ecosystem is rapidly advancing. As the comprehensive application attracts more users and enthusiasts, sustaining a liquid CATE marketplace will be even more important. Cash Tech is committed to ensuring that liquidity providers are compensated for their role in ensuring healthy CATE market dynamics.

Uniswap also allocates a 0.3% fee on the trading volume to liquidity providers, further increasing the rewards that CATE-ETH liquidity providers can earn. The 0.3% trading fee is allocated to liquidity providers, proportional to their share of liquidity in the pool.

To participate in the Cash Tech liquidity mining program, liquidity providers must whitelist their address and send their liquidity to the CATE-ETH pool on Uniswap. The rewards for the liquidity mining program are renewed on a monthly basis.

Eligibility criteria and liquidity mining specifications:

  • Allocating liquidity to the CATE-ETH pool requires sending an equal USD value of ETH and CATE to the pool.
  • Liquidity providers must initially have at least 0.1 ETH along with 0.1 ETH worth of CATE tokens to allocate to the pool
  • The liquidity mining rewards will be distributed pro rata to the liquidity providers share of the overall pool
  • If the liquidity is removed, any liquidity that is awaiting rewards will be disqualified
  • Liquidity providers must wait at least 30 days after allocating liquidity to receive rewards
  • At the end of each rewards period, the 1,000,000 rewards allocation is split proportionally among liquidity providers

Whitelisting:

  • Program participants must initially whitelist the Ethereum address where their CATE is held through the linked form here.
  • After whitelisting the address, visit the Uniswap “add liquidity” page for Cash Tech.
  • Specify the amount of CATE you wish to send to the liquidity pool. The minimum allocation is 0.1 ETH worth of CATE.
  • Confirm the liquidity by clicking “approve CATE”. Set a medium-to-high gas fee to ensure the transaction is processed
  • When the transaction is confirmed, click “Supply”. Once again, use a medium-to-high gas fee.

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