Our farms at BeGlobal are primarily used to motivate users to offer liquidity for their favorite projects by paying them with $GLOBAL.
As a decentralized exchange (DEX), the more liquidity we have, the better users can trade. This is one of our core businesses here at BeGlobal, which is why we want to promote adding liquidity for popular trading pairs.
Add liquidity, receive LP tokens and stake them to receive $GLOBAL rewards. Bear in mind that when farming, there's a risk involved: if you're planning to provide liquidity to one of our pools, it's important to understand what impermanent loss is.
Do you want to know why? It's simple: including these fees basically means that we won't be here tomorrow. This type of tactic is a clear signal among many DeFi projects that they are here for the short term.
Once APRs drop, liquidity providers can never get their deposit back and they no longer have interest in adding liquidity. Therefore, we consider deposit fees as one of the problems in the industry. That's why we have completely removed them.
Our farms will only have low withdrawal fees to make sure that no one is gaming the system. This fee is very low, typically around 0.5%.
Every farm has a threshold variable set (you can see it in the farm description). If you withdraw before the threshold from your last deposit, a withdrawal fee is applied.
If you do it after the threshold, we will simply charge a small fee on the rewards.
All $GLOBALs charged as fees are burnt. Fees taken on other tokens are mainly used for swapping them to $GLOBAL and then burning them as well. A small part of these tokens is used to fund operations and marketing.
As you can see, our system is designed to last for the long term and is focused on increasing the price of GLOBAL constantly.
You can have lesser (or none) withdrawal fees if you partner with us. Get in touch to know more clicking on 🤝 Business Partnerships.