Place/Date: - January 7th, 2022 at 8:00 am UTC · 3 min read
Contact: AscendEX, Source: AscendEX
AscendEX is thrilled to announce the listing of the Pontoon Token (TOON) under the trading pair TOON/USDT starting on JAN 7 at 2 p.m. UTC.
Pontoon Finance is a one-click liquidity mirror solution across chains that aims to reduce fragmented liquidity across chains and address the lack of trustless, decentralized interoperability between DeFi protocols. The protocol has been designed to solve various challenges in the DeFi sector and to accelerate the growth of the multi-chain DeFi ecosystem.
Pontoon incentivizes liquidity providers with a 35 percent APY and staking users with additional earnings. Pontoon is a Proof-of-Stake relayer network secured by a series of validators running relay nodes which then provide incentivized staking rewards based on the fees collected from transactions validated by the nodes.
Through Pontoon’s unique decentralized and incentivized model, the platform looks to benefit both users looking to move assets across chains and liquidity providers who enable the movement of assets in the marketplace by operating as lenders and relayers.
TOON is Pontoon’s ERC-20 native governance token, which leverages a community-first approach in its utility. Tokens are distributed as rewards and incentives for users, liquidity providers, and relay network node operators who actively participate in the protocol. TOON’s primary utilization from users is to participate in protocol governance.
35 percent of the total TOON supply has been earmarked for community rewards, and in efforts to drive the community-first ethos, distributed entirely to ecosystem participants. The tokenomics of Pontoon’s token ultimately allows for community-driven governance and a fair incentivization model, both facilitating the ecosystem’s growth.
AscendEX is a global cryptocurrency financial platform servicing more than one million institutional and retail traders with the resources needed to obtain more value from their crypto investments. Operating at the nexus of centralized finance and decentralized finance, AscendEX’s platform features access to margin, futures, and spot trading, a robust wallet infrastructure, and staking support for over 200 industry-leading blockchain projects, all producing industry leading yields and returns, further driving the growth of the crypto ecosystem. In efforts to cultivate scalable and secure forms of decentralized financing, AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” through supporting some of the industry’s most innovative projects from the DeFi ecosystem.
To learn more about how AscendEX leverages best practices from both Wall Street and the cryptocurrency ecosystem to extract the highest value per dollar to its users, please visit: Twitter, Telegram, Medium.
The Pontoon Finance protocol was developed to solve the multiple challenges facing the DeFi sector and accelerate the growth of the multi-chain DeFi ecosystem. Pontoon aims to reduce fragmented liquidity across chains and address the lack of trustless decentralized interoperability between DeFi protocols.
For more information and updates, please visit: Twitter, Telegram.