Two governance proposals on separate IBC enabled chains voted to offer triple rewards to liquidity providers on the Osmosis DEX.
Newcomer JUNO and four-month veteran Osmosis holders voted to offer triple rewards of OSMO, JUNO and swap fees to two pools on Osmosis starting Oct. 15. JUNO will pony up 1,000,000 tokens over the course of 180 days (2,777 per day) and Osmosis is incentivizing the pools along with myriad others already giving 100 percent + APR in OSMO.
Pools #497 and #498 allow users of the Osmosis DEX to bond for 1, 7, or 14 days, making up to 133 percent as of Thursday night. The governance proposals for both chains passed overwhelmingly, with 99.3 percent of Osmosis voters saying yes and 99.89 percent of JUNO voters giving the nod.
Osmosis has been a boon to many ATOM holders as the quadratic fair-drop enriched crypto accounts across the board. Some traders say the JUNO token is the ETH of Cosmos and feel the platform –with its smart contract capability– will usher in a new era of prosperity for Cosmos ecosystem participants.
IBC sister blockchain Sifchain Finance is also offering a rewards program for liquidity providers of JUNO on its platform with a 512.9 percent APY paid out in ROWAN.
Late Thursday night Telegram users started complaining about rewards APR going down as liquidity is added in the above mentioned pools, however, the pools do not reflect JUNO rewards at this time.
Additionally, multiple Osmosis users asked if they needed to unbond and rebond on the 15th in order to get the trifecta of rewards. The answer from other users and admins was “no.”
