When does SHUFFLE! Liquidity Mining go Live?
Liquidity Mining will go live Friday July 23rd (exact time TBA) at a fixed 500% APR and will be rewarded in CARDS tokens.
This bonus 500% APR window will last until Friday July 30th 8AM PST/3PM UTC
After July 30th the APR will be 100%, rewarded in CARDS tokens.
What is Liquidity Mining?
Liquidity Mining is a program to earn CARDS rewards in return for staking the liquidity you provide to the SHUFFLE! liquidity pool (SHFL+ETH= LP). Liquidity providers will receive special tokens known as Liquidity Pool tokens (LP) unique to the SHFL+ETH; this token is a representation of your share of the liquidity pool.
Why is staking an LP token important to the CARDS ecosystem?
The depth of liquidity is important to the efficiency of market making and will be a critical metric for the effective functionality and sustainability of SHUFFLE!
Go to app.uniswap.org and click “Pool” at the top of the screen. Then click “Migrate to V2 Liquidity” and “View V2 Liquidity”
Click “Add Liquidity”
Enter the quantity of SHUFFLE! and equivalent ETH value you wish you convert to SHFL-ETH LP tokens, then click “Supply”
When the SHFL-LP rewards program goes live this Friday the 23rd, this article will be amended with the destination link and guide to stake your SHFL LP tokens to become eligible for these rewards!
We wanted to share this article before the next lock date for the SHUFFLE! Staking Lottery so our community can make calculated decisions regarding their preferred strategy with their SHFL tokens.
Because the rewards for providing SHUFFLE! LP are quite immense, staking your SHFL LP tokens requires a 5% fee, in which 5% of the staked LP tokens will become permanently locked SHUFFLE! liquidity.
However, LP contributors can opt for a 30 day lock on their LP tokens to avoid this 5% participation toll.