Veax Labs has officially launched its advanced decentralized exchange (DEX) on mainnet. Built on NEAR Protocol, the platform aims to seamlessly bridge features commonly found in the traditional finance (TradFi) with that of the decentralized finance (DeFi) market. Together with the launch of the platform’s mainnet, it has introduced the Veax Liquidity Provider (LP) Incentive Program, a unique opportunity to reward community members who commit liquidity to the platform, further accelerating its growth.

Since the platform’s public testnet launched in late January, over 12,230 users accessed the platform, creating over 120,000 liquidity positions and generating nearly 2 million native NEAR testnet transactions. Following the success of the platform’s public testnet, the team has developed a unique trading experience for the NEAR ecosystem, building on feedback received and implemented during the testnet phase.

The Veax LP Incentive Program will allocate 25% of all $VEAX tokens, amounting to a total of 2,500,000 tokens, to reward early liquidity providers in the Veax ecosystem. The 7-month long program will run from the launch of the mainnet through the token generation event (TGE) until the end of the year. The TGE is expected to occur two months after the mainnet launch, with rewards accruing immediately and payable one month after the TGE takes place. To incentivize continued support, tokens earned will be locked for two months after they are earned. The incentive pool is designed to triple or even quadruple earnings generated from exchange pools.