Pact To Provide 1M ALGO Via Aeneas Liquidity Program
Through its participation in the Aeneas Liquidity Program, Pact is set to provide an additional 1M ALGO as boosted rewards to a selection of its liquidity pools and is extremely pleased to be strengthening its partnership with the Algorand Foundation and enhancing ecosystem DeFi activity for the community. You can read more about the Aeneas Liquidity program here — https://algorand.foundation/news/viridis-phase-ii-aeneas
Aeneas Program Unlocked
The program’s reward period will run for eight weeks, commencing Friday 8th of April and concluding midnight Thursday 2nd of June (all times in UTC).
Pact is releasing its distribution plans in advance to maintain complete transparency with the Pact community. Allocated linearly, the ALGO rewards will be paid out weekly over the eight weeks. To ensure eligibility, users will need to provide liquidity to the boosted Pact pools outlined below:
Pact reserves the right to alter the reward distribution structure over the program period if some APR is not being appropriately allocated and/or utilized effectively. The guarantee remains that all 1M ALGO will be distributed, with no leftover funds held by Pact.
Platinum Partner and Key Program Objectives
Pact is determined to:
- reward its early supporters, and
- attract new funds that grow total value locked (TVL) on the platform, with assets currently parked outside the Algorand ecosystem.
Partnering with Algomint, a bridge that stimulates ongoing inflow of liquidity into Algorand, allows Pact to attract and retain ‘wrapped’ liquidity via strongly rewarding BTC and ETH entering the Algorand ecosystem. Pact is additionally supporting the ALGO/goMINT pool to maximize the effect of this liquidity seeking incentive.
*Our platinum partner Algomint will also be boosting rewards to each of the ‘goASSET’ pools over and above the numbers detailed above!
Another strategic goal is to encourage the usage of stablecoin pools when times of safe haven are required (by making fiat withdrawal — ie. liquidity leaving Algorand — less attractive) via boosts to the USDT/USDC pool.
A Show of Support
Pact is always striving to foster and support the growth of ‘blue-chip’ ASA tokens within the Algorand ecosystem. For this reason two Opulous pools will be receiving large boosts. This provides attractive yield opportunities to the many OPUL holders across the Algorand ecosystem. OPUL can currently be purchased on several large centralized exchanges, on Pact and other Algorand native AMMs.
To support newer project ASA token pools within Pact, a ‘community-fund’ category was allocated, in which Defly, AlgoNuts and one surprise project (which has been selected, but will be announced in two to three weeks time) will all be amplified. These rewards are Pact’s way of acknowledging the support of early projects that partnered and/or provided liquidity in the earliest periods post-mainnet launch.
How will I be eligible?
It’s as simple as providing liquidity to the boosted Pact pools detailed above. You need to be providing liquidity for each full 24hr period to be eligible for that day’s bonus rewards calculation. If you add extra liquidity during an already running 24hr calculation period, eligibility will only start at midnight UTC of the next day’s cycle.
Do I have to stake?
No — Staking will come later this year. For now, you just need to be a liquidity provider in a boosted pool, and we’ll take care of the rest for you.
How much will I get?
Given that we’re not artificially suppressing or influencing pools to track to a target APR, we expect that APR returns will vary significantly due to supply and demand market forces. What is clear is that using current pool sizes as a baseline, the APR increases could be extremely lucrative and significant.
Is the distribution even?
Mostly. Rewards will generally be allocated linearly and paid out weekly — i.e. The end of Week 1 will result in ⅛ of the total rewards being distributed, and so on and so forth. The one exception is our pending surprise community partner announcement, which will have a compressed distribution schedule during weeks 4 through to 8.
As one of the most user-friendly Algorand dApps, Pact is a mobile-first designed trading experience, offering deep liquidity and low transaction fees. With accessible smart contract functionality, transactions on Pact are available to users of all levels of wealth and experience. Backed by key strategic partnerships, Pact is built with the technical sophistication and assurance of Algorand’s Pure Proof-of-Stake mechanism.