we2net Gains Strong Traction in Korea with 200+ LP Holders and $760k Initial Liquidity press release
PRESS RELEASE.we2net, a new DeFi platform that aims to bridge the gap between centralized and decentralized finance, has gained strong traction in Korea with over 230+ LP holders and nearly $760k in initial liquidity within just three weeks of launching its offline development efforts.
According to data analysis, the LP holders’ distribution of the initial liquidity is evenly spread without any large whales, indicating a fair and equitable distribution. we2net is set to launch on April 15, 2023, at 0:00 UTC, and investors can purchase its tokens via PancakeSwap or the official website.
The we2net team is now actively promoting its platform through online marketing efforts and offering attractive incentives to the community to encourage its development. Here’s a closer look at some of the platform’s mechanics:
we2net uses USDT and WE2NET tokens as liquidity pairs. Users only need to add initial liquidity using USDT, and the smart contract will automatically generate WE2NET tokens at a 1:10 ratio and add them to the liquidity pool. This mechanism ensures that both project developers and users enter the market at the same purchase price, resulting in fair profit distribution.
To avoid exchange rate fluctuations, WE2NET tokens are prohibited from trading before the deadline for initial liquidity provision. After trading is enabled, the corresponding WE2NET tokens will be used as LP mining rewards. Additionally, the platform offers generous rewards for referrers, with up to 50% of the user’s fee revenue, while the remaining 50% is allocated to their direct referrers.
One notable aspect of we2net’s liquidity provision mechanism is that it shares the privilege of adding initial liquidity with all investors, unlike traditional DeFi projects where the project developers are responsible for adding initial liquidity, which can lead to uncertainty and potential rugpool scenarios. By sharing this privilege with investors, we2net achieves a truly community-driven and decentralized approach.
Furthermore, the number of tokens issued is pegged to the amount of initial liquidity added, ensuring that there are no unexpected token issuances by project developers. In terms of referral mechanics, users can obtain their referral link on the official website and earn up to 50% of the transaction fee revenue as a reward, depending on their levil. This incentivizes users to continue to promote the project and expand the user network, as evidenced by the ongoing promotion of the project’s rank-gifting activities.
Overall, we2net’s innovative approach to liquidity provision and referral mechanics, coupled with its successful offline development efforts, bode well for its future growth potential. As it enters the DeFi market on April 15, it will be interesting to see how it continues to differentiate itself from other projects and gain a foothold in the highly competitive DeFi space.
Website link: https://www.we2.net/en
Telegram: https://t.me/we2netEn
Twitter: https://twitter.com/we2net
Tags in this story korea, we2net
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. China"s Inflation Rate Drops to Lowest in 18 Months ECONOMICS | 2 hours ago Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet MINING | 4 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleUS Presidential Candidate RFK Jr. Says Bitcoin Provides An ‘Escape Route’ From Financial Turmoil Next articleBiggest Movers: SOL 15% Higher, as LTC Hits 5-Week High More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms