LABS Group’ NFT Auction Reward Distribution Update
We wanted to thank everyone again for participating in the LABS’ NFT auction to gain access to tiered membership levels for life without the need for staking! The liquidity pool started at around $1M USD and is now worth close to $4M USD! All the fees generated during this time will continue to go into the LP as long as you continue to own it.
On March 30th before 1 PM UTC we will be releasing the LP tokens to all that qualified for our NFT auction. The total LP tokens owned by the NFT holder is currently a floating value of 4,162,325 USD which is a combination of 21,151,779 LABS and 1,221 ETH. These will be distributed to each NFT holder by the ratio of ETH contributed during the auction. This will fully decentralize the Liquidity Pool on UNISWAP as LABS will not own any of the LP as stated at the beginning. The community owns the entire LP and earns all the fees.
The Fees generated by the LP on UNISWAP has generated over 416,000 USD!
The liquidity was placed into LP in the schedule shown below. This schedule shows how much ETH/LABS was put in at what price per LABS token.
The NFT’s will also be minted and passed out over the next 2–3 days. This is all made possible by our cooperation with Enjin. Holding the NFT cards will give growing benefits within the LABS ecosystem and may allow future benefits with the partners we bring on board.
Here is the final look of the cards.
As a reminder. The benefits of each card are shown below.
Staking for the LP token holders will be announced later this week. All LP holders will be able to stake their tokens for LABS’ rewards!
Once again we want to thank everyone for their support!
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