The Incentive Token on PulseChain is more talked about than many could have ever predicted.
It seems to have taken on the role of the mystery character since its inception.
Let’s break down what it is and it’s potential on PulseChain.
The Incentive Token, with the ticker symbol INC, is a reward token used to ‘incentivize’ liquidity providers on the decentralized exchange PulseX.
The primary function of the INC token is to encourage LPs to pair bridged-in tokens from Ethereum to native tokens on PulseChain.
By doing this, PulseChain becomes a highly liquid blockchain, connected to an even more liquid blockchain in Ethereum which is highly connected to the traditional markets.
To earn INC Token on Pulsex v1, users must provide liquidity on incentivized pairs and stake their LP tokens.
The liquidity pools that are available to earn rewards are shown in the image below:
Keep in mind that APRs fluctuate significantly and impermanent loss is a serious risk to consider.
The price of INC Token can be found here at: https://www.liquidloans.io/pricefeeds.
These price feeds are highly accurate and up to date. The display also shows supply, tokens burned, volume, market cap, total liquidity and charts.
Bookmark this tab and keep checking in as more tokens are added!
Nobody knows how the price of INC will perform, and none of this is financial advice.
The price of INC Token peaked in May of 2023 at a price of almost $80 a token.
Since the announcement of the SEC lawsuit on HEX and PulseChain, it has dropped roughly 98% all the way down to $1.
During the same time, the native token of the blockchain, PLS peaked at $0.00028 and dropped all the way down to $0.000034, a loss of roughly 92%.
The ratio between INC and PLS also deteriorated in value, dropping from 300,000 PLS per INC to 16,500 PLS per INC.
This means that INC dropped roughly 96% in comparison to PLS.
This could be because users don’t view INC as equally valuable to PLS.
Afterall, INC has no utility elsewhere on the chain other than earning more of it via liquidity providing.
Contrast this with PLS, which can be used to become a validator or can be collateralized within the Liquid Loans protocol.
You can find the token address for INC here: https://scan.pulsechain.com/token/0x2fa878Ab3F87CC1C9737Fc071108F904c0B0C95d/token-transfers
Simply click “copy address” in the top right of the image and paste into your wallet to import the Incentive Token.
Many of the PulseChain community have speculated on future use cases of the Incentive Token.
These theories have ranged from providing discounts on a Richard Heart created centralized exchange to becoming a stablecoin.
All of which are baseless and refuted by Richard himself.
For now, the Incentive Token remains simply a reward for liquidity providers on PulseX.
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Disclaimer:Please note that nothing on this website constitutes financial advice. Whilst every effort has been made to ensure that the information provided on this website is accurate, individuals must not rely on this information to make a financial or investment decision. Before making any decision, we strongly recommend you consult a qualified professional who should take into account your specific investment objectives, financial situation and individual needs.
Connor is a US-based digital marketer and writer. He has a diverse military and academic background, but developed a passion over the years for blockchain and DeFi because of their potential to provide censorship resistance and financial freedom. Connor is dedicated to educating and inspiring others in the space, and is an active member and investor in the Ethereum, Hex, and PulseChain communities.
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