Austin, Texas [February 17, 2022] (ORIGINAL: GLOBE NEWSWIRE) – Phunware, Inc. (NASDAQ: PHUN) (“the Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today the launch of its PhunToken (PHTK) liquidity pool rewards program for an Ether (ETH) – PHTK trading pair at Uniswap V2. PHTK is currently available for purchase here with US Dollars (USD), Bitcoin (BTC) or ETH.
The liquidity pool rewards program is expected to launch next month and the first reward will be distributed in April to eligible whitelisted wallets. These rewards are paid in PHTK to every eligible liquidity provider that locks ETH and PHTK on Uniswap for at least 30 days. These rewards are in addition to the anticipated 0.3% fee liquidity providers typically get from Uniswap trades on trading pairs they provide liquidity to in the market. Only a limited number of liquidity providers who register here will be whitelisted.
“We are thrilled to take this important next step in commercializing a truly decentralized data economy that can access and utilize all of the features and capabilities of our Multiscreen-as-a-Service (MaaS) platform,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “Decentralized exchanges like Uniswap will help us further decentralize PhunToken and further extend access to MaaS functionality globally, but it’s important that we take the added step to KYC/AML each of our liquidity providers through this simple registration process.”
By incentivizing PHTK holders with rewards, the Company expects to provide the necessary liquidity to not only foster a healthy ecosystem, but also more rapidly accelerate the global decentralization of PhunToken.
How to Become Eligible
- Click here to register to become a whitelisted liquidity provider.
- All participants must successfully complete the KYC/AML process and provide at least 1 ETH of liquidity plus 1 ETH equivalent of PHTK tokens.
- Each qualifying liquidity addition is only eligible for rewards 30 days after being added.
- All eligible liquidity providers will split the reward pool pro rata.
- If ETH-PHTK liquidity is removed at any point during the initial or subsequent lock periods, all previous liquidity for that lock period is disqualified and a liquidity provider must wait 30 days from the next time qualifying liquidity is added in order to requalify for rewards.
- Only liquidity providers holding the LP tokens (UNI-V2) in a whitelisted wallet will be eligible for rewards.
The liquidity pool rewards program is expected to be automatically renewed on a monthly basis unless declared otherwise by the Company. The Company has plans to launch similar programs on other decentralized exchanges (DEXs), including SushiSwap, in the future.
Click here to register for the PhunToken Uniswap Liquidity Pool Rewards Program.
Click here to purchase PhunToken with USD, BTC or ETH.
Safe Harbor Clause and Forward-Looking Statements
This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen as a Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com, https://phunwallet.com, https://phuncoin.com, https://phuntoken.com, https://lytetechnology.com/, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.