ADD.xyz’s Staking Liquidity Program is about to launch!
We’re letting our community share the love and support us by staking their PLT/ETH into the Uniswap Pool in order to receive a share of 150,000 $PLT (approximately 10K USD) per month equivalent in PLT tokens and the Uniswap v2 Token!
All you have to do to qualify is make sure your tokens are held in the PLT/ETH Uniswap pool for at least 30 days. You’ll need an equivalent amount in ETH in order to provide liquidity to Uniswap. The rewards program is automatically renewed on a monthly basis unless said otherwise.
As liquidity in the pool grows, we will also increase the monthly reward in proportion.
Using our native staking dashboard, users will be able to see and select multiple Uniswap Liquidity pools, APY Rates and their personal holdings across all pairs available and even UNI LP rewards for providing liquidity. Users can track their PLT rewards on a monthly basis, instantly switch across pools and even see the status of their whitelist/eligibility for the staking reward if they have just started.
Initially, all users will need to whitelist. This involves signing a simply message through your connected web3 wallet which lets us know that you have engaged with the staking program. After you have signed a message, your address will be whitelisted, you will simply need to add liquidity to start.
Once you have added liquidity, your reward status will have updated automatically to 'Providing Liquidity', and will give each user a countdown until the days in which they become eligible for monthly staking rewards.
If a user decides to withdraw before this time period, they will not be eligible but they will need to re-whitelist by signing a transaction again.
As you can see below, this user has deposited 5,000 PLT and 1.2553 ETH into the PLT/ETH uniswap liquidity pool. They are also able to track their UNI LP rewards in real time, while also seeing their estimated PLT balance increasing.
Since we are directly integrated into Uniswap, we have also added the ability for users to add/remove and swap liquidity directly through the dashboard. Transactions will additionally show your share of the pool.
Uniswap is a decentralized exchange (DEX) that allows users to directly swap ERC20 tokens without a third party. Rather than using the traditional order book model, Uniswap pools tokens into smart contracts and gives users the possibility to trade against these liquidity pools. Anyone can swap tokens, add tokens to a pool to earn Uniswap’s governance Token UNI, or list a token on Uniswap. If you provide liquidity, you get a .3% fee generated by Uniswap trades.
If you haven’t been living under a rock you probably have heard about the terms DeFi (Decentralized Finance) and Uniswap (or any other decentralized exchange like Balancer or SushiSwap). DeFi and decentralized Exchanges have gained an insane amount of exposure and popularity in the past couple of months. YFI even dethroned Bitcoin by peaking up above the price point of $40,000 per token which was four times the price of a single Bitcoin. This also caused a new trend wave of decentralization, as many users stepped over to using a decentralized Exchange over a traditional centralized Exchange like Binance or Coinbase Pro.
The days of POS staking like 2017 and 2018 are over, there are new, more innovative and meaningful ways of creating value through the newest forms of staking. Yield farming is essentially a new form of staking tokens in the form of locking liquidity. Just like with our Staking Liquidity program, users will be able to stake their PLT, with an equivalent amount of ETH and participate in the share of monthly PLT rewards.
Phase 1: October 27th 13:00:00 hrs GMT 10k USD (Approximately 150,000 PLT at time of launch) Staking Liquidity Pool Launches
Phase 2: November 28th — Internal discussion to open a bonus UNI-V2 Staking Liquidity Pool Decision due end of October
Phase 3: December 28th — PLT Uniswap staking integrated into V2 Add.xyz dashboard.
There are only two simple requirements, really.
First, to be eligible for rewards, you must have locked liquidity (the initial amount must be equal to or greater than 1 ETH) on the PLT/ETH pool for at least one month.
In addition, you must also whitelist your address here. It’s as simple as that.
Whitelisted addresses who have successfully staked liquidity for 30 consecutive days will be rewarded a share of the $PLT token rewards based on the proportion of the the liquidity locked based on the size of the LP token.
The $PLT rewards will be distributed within 5 working days of the staking program coming to an end.
Please do keep in mind you cannot control the amount of any individual token (ETH or PLT) you get out of the pool. Sometimes the amount can consist of a larger share of ETH than PLT, or vice versa. Please read more about impermanent loss here.
Add.xyz has no control over lost funds on Uniswap.
Add.xyz reserves the right to cancel or modify the program at any time.
Uniswap is one of the most used smart contracts in crypto and known to many across the industry as a liquidity leader. They have a FAQ of their own that you can check out right here.
Rewards are credited on your whitelisted address every 30 days.