💸Liquidity Mining Overview
To bootstrap and encourage liquidity for $PLOT, token holders who provide liquidity on the PLOT/ETH liquidity pool on Uniswap will be able to mine more $PLOT as rewards.
Last updated
To bootstrap and encourage liquidity for $PLOT, token holders who provide liquidity on the PLOT/ETH liquidity pool on Uniswap will be able to mine more $PLOT as rewards.
Last updated
To bootstrap and encourage liquidity for $PLOT, token holders who provide liquidity on the PLOT-ETH liquidity pool on Uniswap will be able to mine more $PLOT as rewards.
The liquidity mining program will run for a period of 120 days from 11th Jan'21 to 11th May'21 with 8,000 PLOT to be distributed as mining rewards each day to the liquidity providers. These $PLOT rewards are over and above the Uniswap Fee which liquidity providers earn.
The motivation behind the PlotX Liquidity Mining program is three-fold:
It helps in bootstrapping token liquidity on Uniswap, leading to reduced volatility and a sustainable token growth
It helps a broader community to claim the tokens in a sensible, permissionless and predictable manner
It rewards PLOT Heads who directly contribute to the health of the $PLOT ecosystem
Provide liquidity on the PLOT/ETH liquidity pool on Uniswap to get Uniswap Liquidity Provider (UWETH/PLOT) tokens
Go to liquidity.plotx.io and deposit your UWETH/PLOT tokens
That’s it! Enjoy your instantly claimable $PLOT yield and chill
Please note that you can withdraw your deposited LP tokens whenever you want as there is no minimum vesting/lockup period.
Rewards in $PLOT will be distributed every second in proportion to the LP tokens deposited by you and the total LP token deposits at that second.
During the course of the new Liquidity Mining program (11th Jan - 11th May'21), 8,000 PLOT will be distributed every day to the LP token depositors
8,000 $PLOT are allocated daily, which means ~0.09259 $PLOTs to be distributed every second [8000/(24*60*60)]
Now, if you have deposited 100 LP tokens and a total 1,000 LP tokens are deposited overall for any given second, then, at that second, you own 10% of the pool.
This means, you can claim 10% of 0.09259 $PLOT which is ~0.009259 $PLOT per second, equivalent to 800 $PLOT per day or 96000 $PLOT over 120 days.
The formula for calculating APY is as follows:
APY = (Rewards to be distributed in 1 month * 12 / Worth of LP tokens deposited * 100%)
The mined $PLOT are instantly claimable from the interface itself. And what's more is that once you claim your farmed $PLOT, you can use them to provide even more liquidity, then increase participation in liquidity mining and ultimately mine even more $PLOT!
Note - depositing the LP tokens in the PlotX smart contracts does not stop you from earning the transaction fees on Uniswap.
11th January 2021, 2 PM UTC
11th May 2021, 2 PM UTC
960,000 PLOT
No vesting/lockups. Rewards are distributed every second and are claimable anytime.
We hope this liquidity mining program distributes these $PLOT to real users who are interested in participating in the PlotX protocol and its governance in the long-term.
Good question! Yes, the Liquidity Mining program is getting extended by 120 days, BUT, this extension will involve a different new farm called UWETH/PLOT (Jan-May'21) which will become live on 11th Jan'21, 2 PM UTC at liquidity.plotx.io.
If you were already farming $PLOT, you can migrate to the new 120 days Liquidity Mining program by following these steps:
Withdraw your UWETH/PLOT LP tokens (this will also automatically withdraw your farmed $PLOT) from the UWETH/PLOT (Nov-Jan'21) farm
Go to liquidity.plotx.io and deposit your LP tokens in the new UWETH/PLOT (Jan-May'21) farm
Hence, all the stakers in the Nov-Jan'21 farm will need to withdraw their LP tokens (which can be done anytime, even after the program ends) and deposit their tokens into the new farm to keep farming $PLOT.
Rewards @8,000PLOT/day are distributed on every second basis so the earlier you participate and the longer you remain staked, the more your rewards will be.
Whenever you provide liquidity into any pool on a DEX (like Uniswap), you get a certain amount of tokens in exchange that represents your share of that pool. These tokens are called Liquidity Provider (LP) tokens.
Yes. All benefits of the LP tokens (trading fees etc) are unchanged by participation in PlotX Liquidity Mining. The PlotX liquidity mining contracts simply hold the LP tokens for you and gives you the ability to claim even more $PLOT.
Uniswap incentivizes users to add liquidity to pools by rewarding providers with fees on trades. This activity, in general, is a complex one and has the risk of the participant also losing money (compared to just hodling) in the case of big directional moves of the underlying asset price which is traditionally called impermanent loss. It is recommended that all users are aware of the mechanics and the associated risks with this activity. You can read more about the associated risks here.
If you have any further questions, please feel free to reach out to the team on Telegram.
The contents of this page are for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy tokens and/or solicit participation on the prediction market protocol. PlotX is not registered under and has not obtained any licenses under any investment or securities or other laws, nor is the sale of $PLOT tokens registered under the laws of any jurisdiction and PlotX makes no representation or warranty, expressed, implied, or statutory, as to the value of $PLOT.
Nothing contained herein constitutes financial, legal, tax, or other advice nor is it to be relied on, in making any decisions. This information is not directed at persons residing in jurisdictions where the distribution and sale of the tokens is prohibited.
While audits have been conducted by third parties to verify the security of the smart contract system, nevertheless, during the course of a user's interaction with the protocol, the user might encounter bugs or service downtimes which can ultimately alter the user experience away from expected lines.
Before predicting on www.plotx.io or participating in the $PLOT listing, you are advised to read the PlotX Whitepaper available on the PlotX Website, especially the Notice and Disclaimer Section thereof, in its entirety. For further information about the prediction market, please visit the website to understand how the protocol functions, privacy policy, and the terms of use.
