Bridge Mutual and Unido create the second MLP on POP!
Dear POP! Town,
Today we are excited to announce that Bridge Mutual and Unido have decided to launch the second Mutual Liquidity Pool (MLP) on POP!
You can find the MLP on our website here!
The launch of this MLP sends a strong message to the market, by displaying the sincerity and commitment behind their partnership, while providing the opportunity for their respective communities to directly benefit from this partnership. In this article we will elaborate on what this means, the details surrounding the MLP, and finally some information on their partnership.
What does this mean?
Through POP!’s unique platform, users will now be able to provide their BMI and UDO tokens onto the MLP Marketplace, as both single sided staking offers as well as direct liquidity mining (i.e. providing both assets). When matched with another user of the opposing asset, your funds will be locked together in the MLP for the duration specified by the Maker of the offer. At any point during the farming period, users will be able to claim their rewards in the form of POP!, BMI & UDO tokens!
To better understand how this will work, let’s have a look at an example:
Assume that Popeye owns BMI tokens and he would like to participate in the BMI x UDO MLP. First of all, he would access our website here, and connect with his wallet that holds the BMI tokens.
After entering the app, Popeye will find and select the BMI x UDO MLP. At this point he will be greeted with our MLP Marketplace, which provides a UI for Making and Taking single-sided offers. Given Popeye holds BMI, he can make an offer with his BMI tokens in order to match with a UDO holder.
Let’s assume that he holds 1,000 BMI and would like to make an offer with all his tokens. All he would need to do is input the values marked in the Make Offer window (Purple window), confirm the necessary transactions, and it will be displayed on the marketplace.
At that point, once a UDO holder Takes his offer, both Popeye and his partner’s funds will be joined and added into the LP, whereby they will begin their farming partnership!
Throughout the farming period both Popeye and his farming partner can claim their rewards (in the form of POP!, BMI and UDO tokens). At the end of the farming period, they will be able to claim back their initial tokens, and should one of the farmers have suffered a loss due to impermanent loss, a portion of the loss will be mitigated through POP!’s rebalancing mechanism.
For more information on how POP! works, and how to interact with our App, please check out our guide here. Should you have any questions, please check out our FAQ, or shoot us a message on our telegram group.
Details about the MLP
Bridge Mutual and Unido have decided to lock $100,000 of liquidity each (in their native tokens), in order to create their MLP, while providing bonus tokens in the form of their native token as rewards to the MLP farmers. In other words, they have created a $200,000 BMI/UDO Liquidity Pool on Uniswap(V2), which will be reflected on POP!’s platform for user participation, through single sided staking and standard liquidity mining (providing both sides of the asset). Furthermore, they have both agreed to run their MLP for a duration of 90 days, starting from the 17th of May 2021 at approximately 17:00 UTC, and concluding on the 15th of August 2021 at approximately 17:00 UTC.
About the Partnership
Unido ($UDO) will be integrating Bridge Mutual’s ($BMI) discretionary coverage natively into the Unido Wallet, offering Unido’s growing list of enterprise clients an intuitive, single point of access to protected crypto fund management and secure access to DeFi investments.
The partnership will enable $UDO clients to purchase discretionary coverage to safeguard their crypto assets in a transparent and decentralized manner, providing an additional layer of protection to their holdings.
Additionally, they are exploring an extension in the scope of their partnership, with Bridge Mutual looking to utilize Unido’s multi-signature key management mechanism to enhance internal security controls for their application.
For more information regarding their partnership, please read their medium articles — Bridge Mutual Announcement | Unido Announcement
POP! is a platform that allows 2 projects to objectively display mutual trust and commitment to each other, by locking their respective tokens together and creating a trustless Mutual Liquidity Pool (MLP). In addition, it grants POP! users the opportunity to provide single-sided liquidity, in the form of their favourite token, by matching them with another POP! user and adding their joint liquidity into the MLP.
Powered by Faculty Group, POP! aims to set a new golden standard with regards to partnerships, and how they are perceived in the digital asset ecosystem.