Solar Bankers

Aug 24, 2021

2 min read

Solar Bankers introduces coin burning and incentives for liquidity providers

August-September 2021

Dear Community,

Hope the sun is shining in your life and you are doing well. This blog post is to share with you some exciting new initiatives we are launching to incentivize the trading of our coin, SLB, on Pancake Swap. Without any further ado, let’s get right into it!

The more you trade, the more SLB coins are burnt! A deflationary push on the horizon

Solar Bankers is glad to announce that, starting from the 1st of September, we are going to introduce a burning mechanism that will reduce the total supply of SLB. The mechanism will work such that 10 to 20% of the SLB coins traded on Pancake Swap will be burned every month. For example, if 100.000 SLB coins change hands during the month of September, 10 to 20,000 SLB coins will be burned. The burning takes place at the end of each month and will be active until a maximum of 10.000.000 SLB coins (20% of the total supply) is burned.

Provide liquidity and receive free SLB coins. Farm with the sun!

In an effort to increase the liquidity for SLB trading, we are launching an initiative that rewards users locking their coins on the SLB pairs (SLB/BUSD and SLB/BNB). 50k SLB will be distributed among liquidity providers every month based on the amount locked in. For example, if 3 users provide each 200, 300, and 500 BUSD worth of liquidity, they will receive 10.000, 15.000, and 25.000 SLB, respectively. Liquidity providers will receive their reward at the end of each month. The maximum amount a single user can receive each month is 25.000 SLB. The reward will be assigned only if the liquidity is kept untouched on Pancake Swap for the entire calendar month. This initiative will be active until a maximum of 5.000.000 SLB coins (10% of the total supply) is distributed.

Solar Bankers Non Fungible Tokens (NFTs) for liquidity providers

Every quarter, starting from Q4 2021, Solar Bankers will mint a unique NFT on the Binance Smart Chain and give it as a reward to the top liquidity provider of that period. A total of 10 NFTs will be minted over the next years and no other NFTs will be created by Solar Bankers after that. This constraint on the supply will make these assets very valuable in the future as Solar Bankers continues to grow its business.

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