Money on Chain, a pioneering decentralized financial ecosystem based on Bitcoin (BTC), has shared details of its new liquidity mining program. New MoC tokens will be used as an instrument of rewards.
MoC users are now incentivized to hold BPro tokens
MoC coins, a new type of asset within the Money on Chain ecosystem, will be distributed between all users of BPro, a one-of-a-kind token for Bitcoin (BTC) holders onboarded by this DeFi.
According to the press release shared with U.Today, once the token-generating event of MoC takes place, 14,000 tokens will be airdropped to Bitcoiners daily. MoC holders will be able to participate in the governance of the Money on Chain protocol. Thus, its governance mechanism migrates to the DAO model in some aspects.
Manuel Ferrari, cofounder of Money on Chain, highlighted that this release is in line with MoC's focus on the Bitcoin (BTC) audience:
In designing "Money on chain," we've given special consideration to Bitcoin holders. As such, we've implemented various incentives as a way of making it more attractive for users to contribute their collateral to the Money on Chain ecosystem.
The initiative will run from Dec. 7 until 30 days after the TGE, or until the entire supply of MoC is airdropped to participants—whichever comes first.
Many assets, many ways to earn
This program will join the club of lucrative advantages for the BPro community. BPro tokenholders enjoy free leverage, interest rewards paid out in the RSK token and rBTC from traders to buy the BTCX long token.
Also, they receive shares of fees paid by users of Money on Chain protocol.
The protocol is tasked with the mainstream adoption of Bitcoin-based solutions, including the DeFi segment. While the majority of DeFi protocols harness the power of the Ethereum mainnet, Money on Chain delivered a number of decentralized instruments and assets.
At press time, its family includes Bitcoin-collateralized stablecoin DOC, a Bitcoin-like asset for multi-purpose usage (BPro) and leveraged long token BTCX.