AscendEX Lists Pontoon Token, TOON
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
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
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