ZKSwap Will Re-open Liquidity Mining(PoL) and Transaction Mining(PoT) on March 29th

Published in

ZKBase

3 min readMar 26, 2021

Ready for another round of mining events?!🤩

Since the launch of ZKSwap’s mining activities, we’ve seen many users participating with great enthusiasm. To further incentivize users, the ZKSwap team decided to start the second round of liquidity mining (PoL) and transaction mining(PoT) events, with a total prize pool of over 4 million ZKS.

Starting from March 29th, 2021, 18:00, GMT+8, and lasting for 28 days

This batch of liquidity mining and transaction mining will start at 18:00 on March 29, 2021, GMT+8 time, and will end at 18:00 on April 26 GMT+8 time, for a total of 28 days. During the event, users can participate at any time on https://zks.app/en/wallet. The specific rules are as follows:

Liquidity Mining (PoL)

Total rewards: 3.8 million ZKS

Duration : March 29, 2021 18:00 — April 26, 2021, 18:00, GMT+8 time

Rules:

This round of liquidity mining will be hosted on layer2 🎉🎉🎉. Participants only need to add liquidity to the L2 liquidity pool to obtain the LP Token, and holding the LP Token on L2 is automatically deemed as participating in the liquidity mining (PoL) event. Please note that if users withdraw the LP Token to layer1 (the Ethereum mainnet), they will NOT be eligible to obtain mining rewards!
Users who participated in the previous PoL activities can simply deposit their LP Tokens to their L2 accounts to participate in this round of mining activities;
During this mining event, the ZKSwap team will take a snapshot of the liquidity pools at a random time each day, calculate each participant’s share of the LP Token held on L2, and issue rewards daily;
During this mining event, the mining rewards will be settled at 18:00 GMT+8 time daily and issued to eligible participants via L2 transfer.

Please note that: The actual distribution time of the PoL mining rewards may be delayed due to network congestion.

Transaction Mining (PoT)

Total rewards: The daily hard cap for each eligible trading pair is 1,000 or 2,000 ZKS;

Duration: March 29, 2021, 18:00 – April 26, 2021, 18:00, GMT+8 Time;

Rules: A total of 13 trading pairs will be eligible for the Transaction Mining(PoT): ZKS / ETH, ZKS / USDT, WBTC / BBTC, BUSD / USDT, ETH / WBTC, ETH / USDT, WQTUM / ZKS, OKB / ZKS, GT / ZKS, XDEX / ZKS, UNI / ZKS, SUSHI / ZKS, AAVE / ZKS. When users swap the above mentioned pairs, they will be eligible to receive corresponding PoT rewards on that day.

The PoL and PoT mining rewards for specific trading pair are shown in the table below: