Schwarzenbach, Switzerland, April 27, 2023 / AlexaBlockchain/ – Veax Labs, a decentralized exchange (DEX) built on the NEAR Protocol, has officially launched its mainnet platform. With the aim of seamlessly bridging traditional finance (TradFi) features with decentralized finance (DeFi), the platform has introduced the Veax Liquidity Provider (LP) Incentive Program to reward community members for committing liquidity to the platform.
Following the success of the public testnet, which saw over 12,230 users and generated nearly 2 million native NEAR testnet transactions, the Veax team has developed a unique trading experience for the NEAR ecosystem. The platform’s key features include flexible fee levels that optimize trading for both regular traders and liquidity providers.
James Davies, Chief Product Officer at Veax Labs, said: “We have set out to develop a platform that will greatly enhance the trading experience on NEAR. Although some of our more advanced features are still under development, we are confident that the NEAR community will enjoy some of the features that will be available upon launch.”
To reward early liquidity providers in the Veax ecosystem, the Veax LP Incentive Program will allocate 25% of all $VEAX tokens, amounting to a total of 2,500,000 tokens. The 7-month long program will run from the launch of the mainnet through the token generation event (TGE) until the end of the year. Rewards will accrue immediately and payable one month after the TGE takes place, with tokens earned locked for two months after they are earned.
Marie Tatibouet, Chief Marketing Officer at Veax Labs, said: “We have a lot of exciting developments planned, including the launch of LP Incentive Program, the continuation of our Veax Points program, and the launch of our native $VEAX token in the near future.”
The launch of the Veax platform has generated positive feedback from the community and its partners, with Kendall Cole at Proximity Labs stating, “We’re very impressed with the activity Veax testnet has generated, and we’re looking forward to the release live at Consensus.”
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