Sophon, a blockchain network specializing in entertainment and utilizing zkSync’s technology, has embarked on a new venture. The platform has announced the launch of a liquidity farming project that allows individuals to participate and earn $SOPH tokens. The company has set aside a total of ten percent of the overall $SOPH token supply for this initiative.
Sophon Initiates Liquidity Farming Program, Enabling Users to Acquire $SOPH Tokens
Users who contribute to Sophon’s total locked value can partake in the rewards by depositing specific eligible assets into designated farming pools. These farming pools are operational on the platform, and participants will receive rewards in the form of “Sophon Points.” A key feature of Sophon’s farming pools is the booster project, which allows users to enhance their potential rewards.
The booster serves as an optional mechanism that enables participants to increase their rewards by permanently allocating a portion or all of their deposited assets to provide liquidity on Sophon. This booster mechanism can multiply the deposited assets by varying degrees, thereby increasing the potential rewards for participants.
Boosters Increase Deposit Value by 5 Times
Users can activate a booster by locking a portion or all of their deposited assets permanently, ensuring that the liquidity remains on Sophon and cannot be redeemed. The booster can multiply the deposit by up to five times, with the assets allocated to activate the boosters permanently providing liquidity.
The primary assets eligible for deposit include BEAM/ETH LP and BEAM, and additional farming opportunities will be introduced over time. Sophon has allocated up to ten percent of the total $SHOPH token supply for liquidity farming, aiming to attract a large number of participants.
Rewards in the form of SP tokens will be accumulated in real-time for participants, who can track their rewards through the Sophon Farming Portal. The accrual rate of rewards varies by pool, with the amount deposited by a user influencing the overall accrual rate within that specific pool.