Purse Liquidity Mining (Part 3)
Another 2 billion $PURSE in total for liquidity providers to grab, with higher rewards per block
Dear $PURSE holders,
The Purse Liquidity Mining Program (Part 2) is coming to an end. It has been a great program, and we are thankful for all the community support. We have decided to extend the program with some new tweaks.
The total reward for the Liquidity Mining Program (Part 3) will be the same as the previous program, but we have added the total reward per block. Previously, the total reward per block was 200 $PURSE. The total reward per block in the current program is 400 $PURSE, and the APR has been raised to 18%.
We will distribute the upcoming generated $PURSE tokens to all LP stakers via smart contract and burn the same amount of $PURSE tokens from the current circulation. This program’s total reward is 2 billion $PURSE, and the same amount was burned from circulation.
Burn transaction hash: here.
Supported LP: PURSE-BUSD from PancakeSwap.
Tutorial
To join this Liquidity Mining program, you must restake your LP from the AMM DEX into the official website. The official website link is https://pursetoken.com/ . Please double check and always use the official website before providing any LP tokens. Please find the step by step tutorial below:
1. Visit https://pursetoken.com/ and click “LP Farm”
2. Connect your Binance Smart Chain wallet to the website.
3. Select the pair you want to deposit.
4. Enter the amount and click “Deposit”.
5. Confirm the transaction on your wallet.
6. You are required to harvest the $PURSE reward manually by clicking the “Harvest” button. If you choose to withdraw / redeposit the LP, the system will automatically harvest the $PURSE reward for you.
As previously mentioned, to counter the inflation rate of the $PURSE token, it has applied the BDL (Burn, Distribution, and Liquidity) mechanism. The current rate of BDL is 20%, of which 10% of the tokens will be burned, 5% distributed to the private wallet holders and 5% transferred to the liquidity pool.
Please note that participating in the liquidity mining program requires transactions and 20% of the $PURSE transaction amount will be deducted to contribute to the BDL mechanism. This is applied to every transaction, including adding liquidity to AMM DEX.
And, this is it. Please let us know if you have any questions or suggestions to improve this farm on the forum.functionx.io and do not forget to follow @Pursetoken on Twitter. Hope you enjoy the decentralized liquidity mining program.
