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The more SYLO staked into your node, the more tickets will be sent your way in exchange for your contribution the the network, and the more recognition you and your delegators will receive. The staking mechanism will now allow other users to delegate their stake to your node to increase your node’s weight on the network. Nodes being operated to earn rewards will be able to replace the existing non-incentivised service protocols with incentivised services operating on the probabilistic micropayment layer. The reward can be collected by all those that stake their LP tokens into the LP Staking contracts via the Sylo Network dashboard.Īs the Sylo Network becomes populated with more Sylo Nodes, we will begin to deploy incentivised services. We will be rewarding those who provide liquidity on Uniswap for the SYLO/ETH and the SYLO/wBTC pairs. Buyers and sellers of the Sylo Token also benefit from reduced price slippage in the Uniswap market. Transaction fees are distributed proportionally to all liquidity providers, so the more crypto assets you stake, the more fees you’ll earn. As a liquidity provider, you will benefit by earning fees from transactions on Uniswap that are generated when other users trade Sylo Tokens. Contributing to our liquidity pool benefits everyone. Liquidity MiningĪlso known as ‘yield farming’, this initiative incentivises the Sylo community to provide liquidity for the Sylo Token on Uniswap V2.Ī liquid market, outside of exchanges, is a core component of a well-functioning decentralised ecosystem. These initiatives are not sequential and will work together to incentivise different components of the ecosystem. Incentivisation of the Sylo Network will be achieved via three initiatives. To bootstrap the Sylo Network with a broad community of Node operators all vested in the ongoing success of the Sylo project.To foster a liquid market for the Sylo Token, ensuring users and Sylo Node operators can easily access the benefits of the network as they need, and.We have designed the initial stages of the network’s token incentivisation with two factors in mind: The time has now arrived to begin the progressive release of the incentivisation mechanics for the Sylo Network and in doing so, bring further utility to the Sylo Token. To achieve this, contributors must be rewarded for providing the decentralised ‘performance-jetpack’ required by dApps like the Sylo Smart Wallet to hold their own against centralised competitors. Incentivisation of the Sylo Network is the next step in our vision for a truly self-sustaining decentralised communications network.