MRHB DeFi Closes Successful USD5.5M Fundraise with IDO

MRHB DeFi Closes Successful USD5.5M Fundraise with IDO and Announces 5 Million Pool of MRHB Token Rewards for Liquidity Providers
 
MELBOURNE, Australia - Dec. 31, 2021 - PRLog -- The world's first ethical and halal DeFi ecosystem platform MRHB DeFi officially concluded its successful fundraising with its final public IDO rounds on DODO and ZeeDO launchpads, altogether raising a total of US$5.5 million with around 85% coming from a global community of investors looking for an ethical and halal entry into the cryptoverse.

Immediately following the close of the IDO, the MRHB token was listed on the popular DEX PancakeSwap, a leading decentralized exchange on Binance Smart Chain (BSC). For the very first time, early supporters of the project were able to trade and swap their MRHB tokens.

5 Million Pool of $MRHB Token Rewards for Liquidity Providers

Instead of standard buy/sell order books, Pancakeswap uses the Automated Market Maker (AMM) model where trades are done through a 'Liquidity Pool' whereby users invest funds (become Liquidity Providers or LP's) to the pools to facilitate swaps.

MRHB DeFi has now announced that over the next three months, $MRHB token holders can become Liquidity Providers on PancakeSwap and earn their share of the pool of 5,000,000 MRHB token rewards.

The following MRHB/USDT liquidity pool has been set up on PancakeSwap, and MRHB Rewards will only apply to this pool:

- https://pancakeswap.finance/swap?inputCurrency=0xd1033281...

Liquidity Providers to the pool can earn in two ways:

1. By supplying liquidity to the pool, the liquidity providers earn transaction fees on PancakeSwap as profit. The total trading profits made will be divided among the LPs, proportional to the amount of funds contributed and the amount of time funds are invested in the pool.

2. In addition, MRHB DeFi will offer a reward to the LP investors on condition that they invest funds into the pool at any point during the three month loyalty period. The $MRHB token reward pool will initially begin at 5,000,000 to be shared among the LP token holders. The number of tokens awarded will change over time but will be visible on the MRHB Reward Dashboard (https://rewards.mrhb.network/). Investors can withdraw their funds at any time.

As an extra incentive for LPs, MRHB DeFi has announced that LP's who lock their tokens for the full 90 days in the pool will have the right to claim an NFT from the first collection at their Souq NFT marketplace. Souq NFT is the first anti-NSFW NFT marketplace in the world that is focussed on creating an ethical and halal marketplace for digital art and other NFT assets.

read full press release: https://www.prpocket.com/2021/12/mrhb-defi-closes-successful-usd-5-5M-funraise-with-ido.html
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