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Liquidity is a sensitive topic in the crypto community. So, while somewhat redundant, we provided as much detail as possible below for those interested in the details.
The term liquidity is generally used in the financial markets to describe the ease by which an asset can be converted into cash without difficulty. In terms of cryptocurrencies, liquidity is the ability of a coin to be easily converted into cash or other coins.
Apollo created its initial liquidity pool on Uniswap pairing $APOLLO with $ETH to create a trading pair. The initial funding was provided by founder Matt Johnson.
The initial liquidity for Apollo was provided by Matt Johnson and locked up through a documented “Liquidity Lock Contract” for a minimum of 6 months, after which those liquidity tokens slowly get unlocked, over the following 6 months for a total of 1 year. Furthermore, any wallet that holds liquidity will not receive reflections from that liquidity, which means all reflections are sent to token holders, and not the liquidity provider, making Apollo even more generous to its holders. The transaction where Matt provided the initial liquidity can be found here. The transaction that locked the liquidity can be found here. The contract for the liquidity locking is here.
Matt sent all 66 of his liquidity tokens to the contract which can be found here. This prevented Matt from removing the 66 tokens for a period of time, and without those tokens, no one can touch the initial liquidity on Uniswap. All of the initial liquidity is locked up for a minimum of 6 months, after which only .005% (1/2 of 1% - or 1/182nd) of the initial liquidity tokens can be withdrawn on a daily basis, extending the lock-up to a total of one year. This provides a solid foundation for Apollo to plant its roots and contractually prevents any sudden, material removal of liquidity.
To withdraw liquidity, Matt would need to give back those tokens. So to “lock” that liquidity from being withdrawn, the team needed to make sure no one could access those tokens until the market is mature enough that withdrawing some of the liquidity would not hurt the Apollo economy. So the team put together a simple liquidity-locking contract which can be found here.
You may see liquidity other than the initial liquidity being added or removed by others in the community. This is because anyone can add or remove liquidity from Uniswap. This is not the initial liquidity being removed.
This information pertains to the initial liquidity provided in UniSwap and does not apply to any liquidity provided to other exchanges in the future, if applicable, as each exchange has its own way of handling liquidity.