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Today we celebrate the listing of Money on Chain’s governance token, MoC, on the Sovryn platform. To mark the occasion, Money on Chain is offering a generous MoC reward to yield farmers. $37,500 worth of MoC is available to LPs of the DoC/BTC pool, DoC being the stablecoin of Money on Chain. The listing is another step in the expansion of the Sovryn platform and ecosystem, and another step in pushing Sovryn towards the forefront of the Defi space in crypto.
Money on Chain is an RSK-based DeFi platform with the stablecoin Dollar on Chain (DoC), a HODL token (BPro), an orderbook DEX (TEX), a leveraging mechanism, and more. Money on Chain aims to empower Bitcoiners to improve the performance of their assets while also retaining full control of their private keys. The new MoC token is a decentralized governance token that gives holders the ability to vote on Money on Chain platform developments, stake for additional incentives, and receive discounts on fees when paid in MoC.
Sovryn and Money on Chain Community will collaborate to provide liquidity to jumpstart the MoC/BTC pool. To be eligible for the $37,500 of MoC rewards, LPs will have need to deposit either DoC or BTC to the DoC/BTC AMM pool at any time up to, and including, the 1st July. Rewards will be calculated based on the exchange rate on the last day of the 30 day reward period starting today. For more detail you can view the final SIP for Money on Chain here.
It’s an exciting time to be a part of the Sovryn community, with constant developments and rolling rewards for participation. More yield opportunities will be announced in the future, but right now there’s no better way to make free money in the Defi space than by becoming Sovryn.