Community Take-over: Pancakeswap Liquidity Program Update
The Saito project is currently earning the majority of its running costs from liquidity provision on exchanges (DEX and CEXs). The revenue from these sources has extended our roadmap and allowed us to hire more ambitiously.
Despite this, we are delighted to announce that we have removed the last project provided liquidity from the BUSD/SAITO pair on Pancakeswap.
This means all revenue from liquidity provision on Pancakeswap is going directly to community members. We are grateful to everyone in the community who has stepped-up and supported SAITO this way and think the occasion is worth celebrating.
Many cryptocurrency projects create artificial rewards by dumping tokens into pools and handing them to “stakers”. At Saito we believe this lessens the value of tokens by inflating the token supply and makes it harder for the market to properly value an open network.
As outlined in our PancakeSwap Liquidity Program, we are committed to re-adding liquidity should the amount provided by our community fall. In the meantime in answer to the Telegram group favourite: “wen staking:” we are happy to note that the APY for liquidity providers on the Pancakeswap pair is currently 200%.