Opium Network Introduces Novel Liquidity Mining Concept

By Abhimanyu Krishnan | News | 28 Jan 2021

Derivatives trading protocol Opium Network has launched its liquidity mining program, the team announced in a blog post published on Jan. 27.

  • The Opium designed a new approach to airdrops, where users seeking a quick profit will be paid less 
  • They cite the UNI airdrop distribution as an example of how users sell their tokens immediately after the airdrop
  • The solution, Dr.Opium, is a liquidity mining scheme that rewards those who keep their liquidity mining tokens in a vault for a longer period of time
  • Those who withdraw early will sacrifice some of their potential earnings, which will then be allocated towards those who continue to keep their tokens in the vault
  • In other words, those who hodl for longer get the largest stake, which is described as being potentially 30,000 times as much as the first person to leave
  • Opium is backed with the likes of Alameda Research and Galaxy Digitial  

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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