Decentralized Finance Platform bZx Joins Liquidity Farming Craze

Decentralized finance (DeFi) platform bZx has announced a pair of proposals that would enable protocol users to participate in fee generation and liquidity farming.

According to an official blog post published June 29, the Ethereum-based lending and margin trading protocol bZx is considering two new updates to its governance token BZRX. 

Today, we share two exciting additional proposals to align the incentives of stakers and users. The blog is posted here: https://t.co/ZTUCKyOAdW#staking

— bZx (@bzxHQ) June 29, 2020

The first proposal involves a fee-sharing mechanism utilizing one of two Balancer pools and a “feeSweep()” function. Clients can generate fees from assets that remain in the Balancer pool, thereby providing liquidity to pool users. 

Each trade made, loan originated, and debt serviced generates fees for the protocol. There are three fees of which to be aware:
✅Origination fee: 0.09%
✅Trading fee: 0,15%
✅Interest fee: 10% of interest paid pic.twitter.com/yjEiBVYX4j

— bZx (@bzxHQ) June 29, 2020

In addition, the platform claimed staking on the new system would be simplified. 

The post reads, 

The user experience of claiming fees and staking $BZRX is as simple as can be with the introduction of our bZx Staking Portal. You can stake or unstake with a single click, and you can claim your rewards with a single click as well.

The second proposal involves a new protocol disbursement program that rewards bZx users with tokens. According to the post, 20% of the total token supply has been allocated to rewarding users of the protocol, with the allocation further split into reimbursing protocol fees or issuing payouts based upon the number of fees generated that week.

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