TechFlow News – According to official updates, today the digital asset derivatives service platform BitWell announced the launch of its "WELL Vault" feature at 20:00 Singapore time on December 1, 2020. Users who deposit WELL into the vault will act as liquidity providers (LPs) and receive rewards from the vault's reward pool proportionate to their deposit amount. The first phase will run until 24:00 on December 7, lasting seven days. The vault’s reward pool will be funded by a 3% fee from the “WELL Lucky Draw,” with additional WELL allocated from the community governance incentive program determined through community voting.
Additionally, BitWell’s official Twitter announced that WELL will become available for on-chain circulation at 21:00 Singapore time on December 2, 2020, alongside the opening of the WELL/USDT trading pair. Initially, 132,300,000 WELL tokens will enter circulation, comprising 6.3 million from liquidity mining, 42 million from the genesis round giveaway, and 84 million from the hero round giveaway (unlocked over three days), representing 6.3% of the total supply.
