This article was first published on The AdEx Blog - Medium
For a limited time only, we’re launching ADX farming
We are delighted to announce a new ADX incentive program (a.k.a farm) for liquidity providers: over 2 million ADX will be distributed to people who supply liquidity on the Balancer ADX/yUDS pool, Uniswap ADX/ETH pool and other community requested pools.
The program starts at around 16:40:00 UTC on Friday, Nov 20, 2020 (Ethereum block 11296000) and will last approximately for 30 days until Sunday, December 20, 2020.
The main incentivized pools are:
- ADX/yUSD on Balancer, which will receive 1,500,000 ADX; and
- ADX/ETH on Uniswap, which will receive 500,000 ADX.
It’s important to note that AdEx Network will not be participating in ADX farming as a company. Instead, we have transferred all liquidity pool tokens (LP) we hold to our multisig, so the community can verify we are not using them for farming.
How to participate?
To participate, you need to deposit funds into one of the pools, and you’ll receive a special LP token representing your share in that pool. You can then stake this LP token on the Farm page of our staking portal to start incurring ADX rewards. This page also contains links to the respective Uniswap/Balancer pools.
Rewards will be proportional to the amount of liquidity you’re providing, and updated each block.
If you’re participating in the Balancer pool, you have the option of only one asset (e.g. only yUSD instead of both ADX and yUSD), but keep in mind this will instantly convert your position to the respective 80%-20% split ADX/yUSD that the pool mandates.
In order to increase the awareness of AdEx within the various other communities, we’re allocating a small portion of the LP rewards to pairs that do not include ADX. Each of these pools will be allocated a total of ...
To keep reading, please go to the original article at:
The AdEx Blog - Medium