Last week, we successfully secured funding through Catalyst to implement our RWA platform with the Nairobi Securities Exchange. The creation of this platform will significantly improve our ability to raise institutional funding for the provision of rent-to-own contracts in partnership with local developers.
With more funding comes a greater need to secure $EMP for collateral. As previously outlined, the $EMP required for the collateral must either be purchased on the open market or secured through the sale of collateral NFTs. Given the current level of liquidity in the market, it is challenging to buy meaningful amounts of $EMP on the open market. To address this and in preparation for the next stage of institutional investor engagement, we are launching a liquidity drive to ensure there is sufficient market liquidity.
To encourage more $EMP holders to provide liquidity, we will be running an incentives program commencing on epoch 500. A total of 1.5 million $EMP will be available to be earned by liquidity providers, with an additional 250 000 $EMP available if participating liquidity providers are also Founding Community NFT holders.
Also, to celebrate and promote the use of newly upgraded DEXes in the Cardano ecosystem, our Liquidity Drive will reward those providing liquidity to the new Minswap v2 and SundaeSwap v3 pools. This will help to ensure the best potential experience for those trading $EMP.
How It Works
At the start of each epoch (commencing at the start of epoch 500) a snapshot of the wallets that have supplied liquidity to the following liquidity pools will be taken.
Minswap
EMP-ADA V2 (ID: f5808c2c990d86da54bfc97d89cee6efa20cd8461616359478d96b4c)
SundaeSwap
ADA-EMP V3 (ID: 7ecf099f7afd78006b4a543415f9046c12a88e95650d682b076ee586)
Each wallet’s eligibility to earn rewards will be based on their proportion of total liquidity across both pools (i.e. total EMP/ADA liquidity) held for a contiguous number of epochs. The longer a wallet provides liquidity, the larger the pool of rewards it will be eligible to share in.
The 1.5 million $EMP reward tokens will be divided into the following Reward Pools to be shared between liquidity providers according to duration eligibility:
|
Reward Pool |
Contiguous Epochs |
Total Shared Rewards |
|
1 |
10 |
150,000 $EMP |
|
2 |
20 |
300,000 $EMP |
|
3 |
30 |
450,000 $EMP |
|
4 |
40 |
600,000 $EMP |
Founding Community NFT Holders
To be eligible for a share of an additional 250 000 $EMP rewards, liquidity providers must hold a Founding Community NFT in the same wallet they provided liquidity from for a minimum of 20 epochs.
Claiming Rewards
The Liquidity Drive will finish at the end of epoch 550. As eligibility for the above Reward Pools can be achieved over different intervals within the 50 epoch Liquidity Drive period, the final reward calculations will be performed after the Liquidity Drive concludes.
Liquidity providers will be able to track their contribution during, and claim their rewards at the conclusion of the Liquidity Drive, through their connected wallet’s Profile page on the Empowa Explorer – https://empowa.app/profile
Unclaimed Tokens
It has been more than two years since we opened the claiming process for the $EMP obtained through our ISPO and token sale. While most of these tokens have been claimed, a small percentage remains unclaimed. As is standard practice in the industry, we need to close the token claim functionality at some point to avoid the ongoing technical and community support burden. With this in mind, we are giving our community until the end of epoch 520 to claim any unclaimed tokens. After this point, any unclaimed tokens will be redistributed to our community through a future rewards program. If you have not yet claimed your tokens and need a guide on how to claim them, please click here.
