Depending on the amount of COIN/ETH liquidity provided, farmers receive COIN and CRED directly proportional to their share of the pool and the duration of liquidity added. Please note that only staked LP tokens are eligible for rewards. If your contribution to the COIN-ETH pool is equivalent to 1% of all liquidity provided, BUT your LP tokens account for 50% of the total amount staked in the Liquidity Mining contract, you get 50% of the rewards until more people join.
The amount of rewards you get are directly proportional to the amount of LP staked in the farm contract.
For those unfamiliar with Uniswap liquidity, farmers will need to provide 50% COIN and 50% ETH to the COIN/ETH pool. In doing so, you receive a tokenized representation of that liquidity position. This tokenized position is what is staked for COIN rewards directly through the COIN Farming site.
Rewards earned from the program are claimable in real-time, with future rewards subject to approval from COIN governance.
For questions, comments and concerns, join the ranks of the COIN E-Den by holding COIN and interacting with the CollabLand bot by using the “!join” command in the Neon District Discord.
Please note that when providing liquidity, COIN used to access the E-Den could be locked via the pool, revoking access to the group. If you plan on farming, please be sure to leave enough COIN outside of the program to retain your rank in Discord. You’ll want to leave at least 5 coin to maintain basic rank to the discord channels. We are currently developing a new bot a new bot to include LP tokens in rank calculation.
When providing liquidity to Unsiwap, users may incur impermanent loss, or having less of a token than what was entered in the event that token outperforms the other in the pair. For example, if you enter the pool with 100 COIN and the price of COIN rises, you will be left with less COIN and more ETH when exiting. However, with COIN rewards, these losses are largely mitigated and in many cases made up entirely.
If you find this interesting, just wait until you see the dozens of other partnerships in the queue for the E-Den.
Until then, be sure to keep up on all things COIN by following me on Twitter, or by joining the E-Den to hang out with our community.
