Introducing the First LP Rewards Program for GenShards Holders!
We are excited to launch our very first liquidity mining (LM) program ! The unique LM product allows users to add liquidity through different protocols — with Uniswap being the first one.
TL;DR
- Link to Liq Mining portal — https://genesisshards.defiterm.io/
- GS Liquidity Mining Program — AllianceBlock x GS
- Earn extra rewards on top of Uniswap rewards !
- Initial APY — 3000%
- 30 days duration | Rewards in GS tokens
- Participation opens the doors for more programs to come ;)
Starting today (13th Sep 21), all users who add liquidity to the GS/ETH trading pair on Uniswap via the new GS DeFi platform (powered by AllianceBlock — Twitter | TG ) will be incentivized with an initial APY of 3000 %.
Adding value to the GenShards ecosystem and our community is our priority, and the LM program that provides extra rewards to GS holders is an intrinsic part of our plan. This will also boost liquidity on decentralized exchanges like Uniswap.
The program participants will not only earn the regular 0.3% exchange fee that Uniswap provides, but will also receive dual token rewards (in the form of GS & ALBT tokens) by staking their tokens on the Uniswap Liquidity Pool. This program would also open the doors to participate in other LM initiatives in the future.
Steps to participate
- First connect your wallet on the GS Defi dashboard here.
2. Next you need to get your LP tokens. Simply click on the + symbol, which opens the following window within the dashboard. To participate in the pool you need to have Wrapped ETH (WETH) in your wallet. You can obtain this from exchanges, or on Uniswap, or even convert directly in Metamask- there are gas fees for doing this conversion.
3. You choose how much GS / WETH you want to add — you complete one field and the other is calculated for you. Then you click to approve the WETH. You need to ensure you have sufficient amount in your wallet. Confirm and sign the transaction in Metamask.
4. Once this process is complete, you now have your LP tokens. You can now choose how many you wish to stake (or just choose MAX). Approve and stake.
5. Congratulations! Your tokens are now staked and you are earning rewards! Welcome to liquidity mining!
GS Liquidity Mining Program Overview
Dashboard — https://genesisshards.defiterm.io/
Uniswap Pair — GS/ETH
Duration — 30 days (with the option to extend for longer)
Allocation — 333332 GS tokens
Initial APY: 3000%
Disclaimer: Any APY is subject to change based on the number of liquidity providers staking their LP tokens, as well as the market volatility. This is the initial absolute APY rate based on this exact time’s conditions, without any guarantee and are non-binding, they are listed solely for information purposes. Please note providing liquidity to Uniswap comes with some risk. We advise all of you to be aware of this by understanding returns.
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About AllianceBlock
AllianceBlock is bridging the gap between decentralized finance (DeFi) and traditional finance (TradFi), by remedying issues that exist in both spheres and linking them more closely together. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.
Building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities around the world with the tools they need to seamlessly access the DeFi space.
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens
