With the imminent migration to the DOUGH v2 governance token and the launch of the DOUGH / ETH liquidity pool on Balancer, PieDAO will also open its DOUGH farming season!
As announced here 60,000,000 DOUGH v2 tokens (60% of total) will be locked in a vault off-circulation and assigned to the DAO to promote its development overtime through liquidity mining programs and other incentives.
All Liquidity Providers to selected pools will be eligible for these incentive programs by staking their LP tokens to PieDAO staking contract.
In order to kick-off the farming season at its best, on the first week alone PieDAO will distribute 250k DOUGH (!!) among all Liquidity Providers, with pro-rata distribution per second as per staking share.
200k DOUGH (8X the reward of any other pool incentivized!) will be reserved as staking incentive of the DOUGH / ETH pool alone, with the aim to ensure that a consistent portion of all DOUGH v2 migrated will be staked there for reward since day 1, promoting a healthier market through the liquidity contributed to the DOUGH/ETH pool on Balancer.
You can play with this calculator to forecast your rich Farming APY based on the amount of DOUGH staked to the DOUGH/ETH pool, the % of DOUGH staked vs. total migrated and the $ price of DOUGH.
The following programs will be launched on Saturday, October 3rd at 6 pm UTC (8 pm CEST).
To be deployed
Programs criteria will be reassessed on a weekly basis, with the intention to have them running in the following weeks as well.
For reference, after week1 all incentive programs will share a cumulative weekly reward of 150k DOUGH, of which 25k reserved for any new program launched to incentivize a Pie (DEFI+L as soon as out, BTC++, USD++, and more to come).
- Head to https://pools.piedao.org/
- Scroll down to the pool interface below, and simply select the pool you want to provide liquidity at.
3. Then head over to https://pools.piedao.org/#/stake
4. Select the staking pool of interest
5. In the STAKE section, input the amount of LP tokens to stake and approve. As simple as that!
We are planning to extend this proposal with the addition of a reward multiplier factoring in the length of staking for LPs that won’t be claiming their weekly incentives over a defined period of time, similarly as the token-geyser introduced by Ampleforth.
🥧 Stay crusty 🥧
The PieDAO is a decentralized organization dedicated to bringing market accessibility and economic empowerment to anyone with an internet connection through Pie Protocol. Anybody in the public community may support these efforts by completing bounties, making feature requests, or proposing new Pies. DOUGH token holders are the DAO’s decision-makers, governing which proposals are accepted. If you want to know more about PieDAO:
PieDAO on Aragon