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Introduction of a New Token: P*s***n PSN - and an Update to the KITTEN Liquidity Reward Program
Image removed.Here is an image of the new PSN token instead.
PSN is the new meme token on SmartBCH which was created by the KITTEN creator. And unlike most other tokens, PSN is a reward token. That means that there won't be any airdrops ever, but P*s***n can be earned as a reward for demonstrating exquisite behaviour as a member of the BCH community.
That may sound abstract, but there will soon be information that will make it a lot more concrete.
For the beginning, PSN tokens will be given as a reward to KITTEN liquidity providers starting next week.
For the first week of the KITTEN liquidity providers reward program we successfully distributed 10 million KITTEN among all KITTEN liquidity providers who held at least 10 million KITTEN and provided liquidity on MistSwap or on MuesliSwap.
Notice that the liquidity providers received this reward in addition to the APY that the DEXs give them - and in addition to the swap fees that the DEXs give them as well. That results in some absolutely crazy APYs for KITTEN liquidity providers. Congratulations to everyone who took advantage of the program in the last week.
And if you decide to take advantage of this program in the next week, we have great news for you: Now you qualify already when you hold at least 6 million KITTEN - instead of 10 million.
6 million PSN will be distributed among all KITTEN liquidity providers who hold at least 6 million KITTEN for the entire week (including the KITTEN in the liquidity pool).
The liquidity can be provided on MuesliSwap or on MistSwap. We may add the new DEX BeachSwap soon.
You will receive a share of the 6 million PSN that corresponds to the share of the KITTEN liquidity that you provided.
Your share is measured daily. That's why you need to give us your address. Contact @MoreGainStrategies on Telegram if you haven't provided your address yet so that we can include you in the reward program.
On top of the above rewards, you can even earn bonus rewards!
Alice provided 10% of all the KITTEN liquidity for the entire week. Therefore, she gets 10% of the 6 million PSN as a reward.
Alice gets 600k PSN.
If Alice didn't sell any KITTEN during that week, she gets the 20% bonus.
Alice didn't sell any KITTEN during the entire week, so she gets an additional 120k PSN.
If Alice increases the KITTEN liquidity that she provides by at least 0.1 BCH and the corresponding amount of KITTEN (compared to the liquidity she provided the week before), Alice will get an additional 20% bonus.
Alice increased the liquidity that she provided compared to the previous week by 0.1 BCH and the corresponding amount of KITTEN. Therefore, Alice gets an additional 120k PSN.
After one week, Alice receives a total of 600k + 120k + 120k = 840k PSN as a reward for providing liquidity on MuesliSwap or on MistSwap.
Note once again that this reward is given on top of the trading fees and the farming rewards.
Edit: BeachSwap turned out to be the biggest scam on SmartBCH yet. Check out this article to learn more. Here is the unaltered original text of the article.
We are very happy to announce that the new DEX BeachSwap will feature a farm for KITTEN BCH right from the start. This makes BeachSwap the third out of four DEXs on SmartBCH that offers a farm for providing liquidity for the KITTEN BCH pair.
At this point BeachSwap is still very new and not a lot is known about the DEX yet. However, we are happy to report that our first impression is positive. The developers seem competent and hard-working, the community manager seems competent as well - and BeachSwap states that they come without a migrator code - which makes sure that the DEX can't steal the user's funds that are deposited in the liquidity pools. Of course, that's great news. However, do your own research before you add liquidity to the new DEX before the code has been audited.
KITTEN has been doing great. The community gained increasing trust in the token. All previous FUD has been proven to be baseless - and KITTEN has improved in all measurable metrics: More farms, higher APYs, more liquidity, more trading volume, higher price, better community interaction and a cutepaper has also been published. The creativity and writing contest has seen some participation, too and KITTEN is looking towards a bright future. That's why we are confident that the time is right for the introduction of PSN. PSN will have an even better start. We learned from mistakes that were made with the launch of KITTEN - and we avoid these mistakes. We are looking toward building a creative, productive and reliable community that will be rewarded with the PSN token. Stay tuned for future announcements!