Fresh off tokenizing over $500,000 in real-world Assets, ShuttleOne has launched a liquidity program on Pancakeswap to incentivize users to provide liquidity for the protocol focused on financing SMEs around the globe. The program is set to run from August 1 to October 1 will see LPs rewarded with over 400,000 SZO and stablecoins. A statement from the company reads, “on top of the standard 0.17% fee from Pancakeswap, ShuttleOne will award 1000 SZO + 10% stablecoins to every liquidity provider that whitelist your address and add liquidity to SZO — stablecoins trading pair for 59 days. The reward will be distributed to the eligible liquidity providers from the 60th day onwards.”
What You Need To Be Eligible
To be eligible to participate, you need a minimum of $500 of stablecoin liquidity plus $500 worth of SZO tokens. As for the stablecoins, you will have to offer the likes of USDT, USDC, and DAI. And each qualifying liquidity will be eligible for rewards after 59 days. However, be warned since if you remove the liquidity at any point before the program is over, your previous liquidity will be disqualified.
As for the process, you will have to whitelist your wallet here then get your hands on some SZO tokens. Proceed to the Pancakeswap liquidity page and input the amount of $wSZO (wrapped $SZO), a stablecoin pair you want to provide to the liquidity pool. Remember you will require a minimum of $500 worth of $wSZO to be eligible for rewards. The next step involves confirming the liquidity by clicking “Enable SZO,” then accept the transaction request on Metamask. Wait for the transaction to be confirmed, and then click “Supply” and confirm the transaction on Metamask.
What You Need To Know
There are a few things you need to understand about the liquidity program. The reward structure isn’t based on the pool’s percentage share you own, which might scare small LPs. However, by meeting the minimum required amount to provide the liquidity, you stand to win the reward just like a larger LP at any time and without notice. Also, if you opt to participate, you will have to whitelist and KYC with ShuttleOne to be eligible for rewards. And since the program is taking place on a DEX that nobody controls, the company doesn’t guarantee or warranty the safety and security of any or all funds deposited by participants on Pancakeswap. Precaution has to be taken as usual; however, there is nothing to be overly worried about since Pancakeswap remains one of the biggest and most reputable DEXs out there.
Also, the company will not be liable for funds lost due to bugs or breaches of the DEX or due to your own negligence.
The Goal Is To Grow Liquidity
Two months ago, ShuttleOne was able to service loans worth over $560,000 through real-world tokenized assets. The company is working on helping businesses around the globe, especially SMEs, access the finances they need to thrive and grow without too much bureaucracy that hampers this development. However, the business needs to have some real-world assets that can be assessed and tokenized before the loan is offered. Most of the company’s clients are based in Asia, which is understandable since the platform has its beginnings there; however, there are plans to cater to other countries in Africa, America, Europe, and Asia. The goal is to introduce SMEs to a new financing model utilizing DeFi.
ShuttleOne believes it has the capability to service over $58 million within its ecosystem. And the June figures represent only 22% of its loan to assets value they offered to borrowers. The company had to turn down requests above $1 million and even lend smaller amounts to lucky ones, with the biggest problem being liquidity. The latest liquidity program is a bid to grow its liquidity to achieve its financing goals.
