DePIN's New Era: IoTeX Launches Liquidity Mining with WiFi Map, GEODNET, XNET
The DePIN Liquidity Hub
In a groundbreaking effort to energize the DePIN (Decentralized Physical Infrastructure Networks) sector, IoTeX pioneered the DePIN Liquidity Hub. This forward-thinking initiative is quickly becoming the liquidity nexus for DePIN projects ($350k+ of DePIN token liquidity currently), leveraging IoTeX's decentralized exchange, mimo, to create vibrant and liquid token markets on the IoTeX L1. The hub is addressing a pivotal challenge for emerging DePIN projects: overcoming the scarcity of token liquidity, which is crucial for their growth and operational efficiency.
Launching the Liquidity Mining Program
At its core, the DePIN sector thrives on collaboration and interconnectedness, and the IoTeX DePIN Liquidity Hub embodies this principle. As we launch our liquidity mining program, we're fostering a symbiotic ecosystem where emerging projects like WiFi Map, GEODNET, and XNET benefit from IoTeX's expansive network and capital base.
This program will initially run for two months and introduces an exciting incentive, with $15,000 in $WIFI, $GEOD, and $XNET tokens up for grabs ($5k from each project), providing participants ample motivation to engage. Not only does this effort bolster these pioneering projects, but it also appreciates our community's active involvement, fostering collective growth and enhancing market stability across the DePIN sector.
There will be a 24 hour loading period, so participants should get in early to maximize earnings. Visit the landing page to learn more: https://iotex.io/depin-liquidity
First Partner Spotlight: WiFi Map
Launching our liquidity mining initiative, WiFi Map stands at the forefront. WiFi Map is transforming the way the world connects, offering unparalleled access to over 15 million WiFi hotspots, thanks to the collective effort of its 175 million users and 13.5 million contributors. The application stands as a testament to community-driven connectivity, enabling 5 million monthly active users to find and access internet services globally, effortlessly bridging the gap between the digital and the physical.
As it embraces the future, WiFi Map is pioneering into the Web3 space, leveraging blockchain technology to elevate the platform's functionality and security. At the core of its ecosystem is the $WIFI token, based on the Polygon network, which enhances transaction security and efficiency. The commitment to innovation continues with the integration of Layer 2 technologies, optimizing the platform for scalability and improved user experiences.
Second Partner Spotlight: GEODNET
GEODNET emerges as a pivotal partner in our liquidity mining initiative, pioneering the collection of real-time geospatial information from the Earth's surface and atmosphere with innovative rooftop Space Weather stations. Utilizing blockchain technology, GEODNET is crafting a durable and secure network, crucial for delivering reliable geospatial data products. These products play a vital role in sectors such as Agriculture, Transportation, and Finance, and are increasingly important in the burgeoning fields of Autonomy, AR/VR, and the Metaverse.
The network's stations harness satellite navigation observations to generate valuable datasets. Miners within the network, once identified and assessed, are rewarded with $GEOD tokens based on the quality and uniqueness of their data contributions. This incentivization model, underpinned by blockchain, not only assures the integrity of the data but also facilitates a unique global identifier for each data source node, propelling GEODNET to the forefront of geospatial data innovation.
Third Partner Spotlight: XNET
As a transformative force in the mobile carrier industry, XNET joins our liquidity mining initiative with a forward-thinking approach to connectivity. Leveraging blockchain technology and utilizing the CBRS spectrum, XNET is dedicated to creating an industry-grade neutral host network. The $XNET token lies at the heart of this venture, incentivizing the expansion of a reliable network across crucial urban centers.
XNET's decentralized Radio Access Network (RAN) offers a robust solution to the mobile industry's capacity and coverage dilemmas. Through strategic roaming agreements, Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), and Multiple System Operators (MSOs) are granted access to the XNET network. This access not only solves their operational challenges but also compels them to pay a premium for the superior service and coverage provided by XNET.
How to Participate in the Liquidity Mining Program:
- Add Liquidity: Start by contributing to the chosen liquidity pool (e.g., $WIFI - $WEN, $GEOD - $WEN, or $XNET - $WEN): https://mimo.exchange/pools
Ensure you have a balanced mix of the two required tokens for the specific pool. For context, $WEN is IoTeX's native stablecoin and has the most liquidity of any stablecoin on the IoTeX L1.
2. Receive LP Tokens: Upon adding liquidity, you'll be awarded mimo LP tokens, representing your share in the selected liquidity pool. You may not see these tokens in your wallet automatically, but rest assured they are there and will be shown in the mimo Farm UI that you interact with in the next step.
3. Stake for Rewards: Proceed to the "Reward Farm" section under the "Trade" tab on mimo, and stake your received mimo LP tokens to initiate the accumulation of rewards.
4. Accumulate Rewards: Rewards will be accumulated in the form of project tokens specific to the pool you've contributed to ($WIFI, $GEOD, or $XNET) within the Reward Farm. Rewards will be tied to the wallet you staked LP tokens from and be paid out in the project's token ($WIFI, $GEOD, or $XNET) that has been bridged to the IoTeX L1.
5. Claim Your Rewards: At any time during the 60-day campaign, connect your wallet and click "Claim Tokens" to add your accumulated rewards to your wallet.
Extended Opportunity: Two-Month Liquidity Pool Window
In a strategic move designed to maximize community participation and benefits, the liquidity mining program featuring WiFi Map, GEODNET, and XNET will be accessible for a full two months. This extended duration provides ample opportunity for contributors across these diverse projects to engage deeply with the initiative.
It ensures a robust and steady growth in liquidity for each participating token pool, underlining our commitment to fostering long-term stability and prosperity within the broader DePIN ecosystem.
Understanding APR%: A Deep Dive into Your Potential Earnings
The Annual Percentage Rate (APR%) represents the potential earnings from your liquidity contributions over a year. Here's a straightforward breakdown of how we calculate APR% for our liquidity mining program:
- Monthly Reward: If you add $1,000 of liquidity to the pool, given the total pool size is $20,000, your contribution is 1/20th of the total pool. For a $5,000 reward pool available each month, your share of this reward for contributing over a single month would be $250, reflecting your proportionate share of the liquidity pool's gains.
- Annualized Earnings Calculation: To calculate the APR%, we annualize your monthly earnings. Assuming you maintain your liquidity contribution consistently for a year and the reward distribution remains constant, your $250 monthly earnings project to $250 * 12 = $3,000 over the course of a year from an initial $1,000 contribution.
- APR% Calculation: This results in an annual return of 300% on your investment, derived from $3,000 in earnings from a $1,000 investment over the year. The substantial APR% of 300% highlights the lucrative potential of participating in the liquidity mining program, offering a compelling incentive for contributors.
This calculated APR% is a dynamic figure that can fluctuate based on the total staking amount and the reward distribution rate. It serves as a clear indicator of the lucrative potential our liquidity mining program offers to participants.
Looking Ahead: The Future is Bright with IoTeX
As we embark on this exciting liquidity mining venture with WiFi Map, GEODNET, and XNET, our ambitions stretch far beyond merely enhancing token liquidity. We're laying the foundational stones for a flourishing, interconnected DePIN ecosystem. This initiative stands as a pivotal element of our mission to propel the future of decentralized networks, offering substantial benefits to our community members and all contributing projects.
We warmly invite you to join us on this crucial journey, leveraging the DePIN Liquidity Hub to unlock groundbreaking opportunities in both digital and physical realms. Together, we're not merely participants in the DePIN sector; we are actively sculpting its future, one liquidity pool at a time.
Dive into the future of DePIN by contributing to the WiFi Map, GEODNET, or XNET liquidity pools today, and become a pivotal part of shaping a decentralized world that rewards your participation and innovation.