ICONPool Christmas Update

TAP TRADING, LIQUIDITY FARMING, AND 16 NEW POOLS LAUNCH ON ICON POOL

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We’re very elated to announce that 15 new pools will launch on ICONPool following the integration of ICON into Orbit Bridge by Ozys P-Rep team. Holders of these assets can now migrate the token onto the ICON network from Ethereum using Orbit Bridge and trade them for ICX without the need for a centralized exchange.

Here is the list of the initial 15 tokens we’ll be supporting:

  • Orbit Chain - ORC
  • Ethereum - ETH
  • Tether - USDT
  • USD Coin - USDC
  • Wrapped Bitcoin - WBTC
  • MakerDAO Stablecoin - DAI
  • Ren Project - REN
  • Band Protocol - BAND
  • Ocean Protocol - OCEAN
  • Chainlink - LINK
  • OmiseGo - OMG
  • Universal Market Access - UMA
  • Loopring - LRC
  • Reserve - RSR
  • Aragon - ANT

ICON community members will now be able to provide liquidity on ICON Pool by pairing ICX with any of the listed tokens. Liquidity providers will in turn receive trading fees from trades on the respective pairs. For example, ICX holders with LINK tokens can now move their LINK tokens onto the ICON blockchain in a 1: 1 pairing. The user can then pair the LINK token with ICX and add liquidity on ICON Pool. All trades on any pair on ICON Pool have a 0.3% fee collected in both tokens and are paid out to liquidity providers. Providing liquidity is a passive way to earn ICX and the paired token.

Yield farming is finally here. Liquidity providers on the ORC/ICX market can increase their yield by participating in the yield farming program when it launches. Liquidity providers on this market will receive extra ORC tokens in addition to the trading fees collected on all trades on this market. We are currently testing the ORC/ICX yield farming SCORE and hope to launch it in Q1 2021. Meanwhile, liquidity providers on the ORC/ICX will still receive fees from trades on this pair.

The native token for the ICONBet platform, TAP is now available for trading on ICON Pool. Users of the ICONBet platform can now buy and sell TAP tokens on ICON POOL. Also, holders of the TAP token can pair it with ICX and provide liquidity on the TAP/ICX market. Liquidity providers will receive 0.03% of every trade as a trading fee. This fee is distributed to all liquidity providers on a pro-rata basis.

We’re very excited about these new developments and hope to support more integrations and the token economy on the ICON network.

Merry Christmas and a Happy New Year.

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