Following a successful public sale and IDO, Wallfair has kicked off our liquidity mining program on Uniswap!
Fellow Wallfairians!
Wallfair is keen to ensure that we keep our community at the heart of our product and token strategy. Thus, on Tuesday, October 19th, our much-anticipated Wallfair Liquidity Mining Program is now live!
Liquidity mining program can be found here :https://lm.wallfair.io/
The process of depositing designated tokens into a given decentralized liquidity source and receiving a reward is known as Liquidity Mining. In our case, participants who deposit liquidity and subsequently stake their LP tokens, will be rewarded with WFAIR tokens.
Our Liquidity Mining Program would be the first incentivized program designed to reward the Wallfair community. Holders of our native token ‘$WFAIR’ would be rewarded with additional WFAIR tokens for providing liquidity via UniSwap, either into our WFAIR/ETH or WFAIR/USDT pools which would be claimable via our portal’s user interface.
In case you missed it, a quick guide showing our community how to purchase WFAIR tokens on Uniswap was created earlier: https://wallfair.medium.com/how-to-buy-wallfair-tokens-on-uniswap-e796303fb5f7
WFAIR token holders would be able to connect their metamask wallet to our liquidity mining program using the simple interface and earn rewards through our liquidity pools on Uniswap.
The following are some key takeaways from this announcement:
- Liquidity Pairs: On Uniswap, we’re starting with two liquidity mining pools: WFAIR/ETH and WFAIR/USDT.
- In total, both pools would receive 600,000 WFAIR tokens each month as a reward for participating in the Liquidity Mining Program.
- Release Schedule: For the duration of Wallfair’s Liquidity Mining Program, the reward release schedule for the following month will be released in the final week of each month.
- Program Length: The liquidity mining program is p[lanned to last for 3 months, however may be adjusted based on prevailing market conditions and ecosystem growth.
- Rewards: participants have the opportunity to earn up to200% APY combined in the first month.
How are Liquidity Providers compensated?
We aim to provide a highly competitive Annual Percentage Yield (APY) for all liquidity providers who decide to participate in Wallfair’s Liquidity Mining Program.
The following variables would determine the rewards for each LP:
- First, the miner provides a portion of the total liquidity pool: The greater the amount of liquidity provided, the greater the proportion of total rewards allocated to that LP.
- The duration of the LP’s participation: This is intended to incentivize early liquidity providers and reduced as more contributors join the pool — the greater their share of the liquidity pool and the greater their share of the reward pool
- One month is the standard Liquidity Mining period (usually defined as 30 days, not a calendar month). This means that the next month’s rewards will be announced in the last week of the previous month (i.e., rewards for November will be announced in the last week of October).
Important Details About our Estimated APY
For the first 30 days, Wallfair will reward the WFAIR/ETH pool with 360,000 WFAIR and the WFAIR/USDT pool with 240,000 WFAIR.
Based on our token price and other factors such as market sentiment, we estimate the APY for the first month to be:
- Uniswap WFAIR-USDT at 160% APY
- Uniswap WFAIR-ETH at 200% APY
Disclaimer: Any APY is subject to change depending on the number of people providing liquidity and staking LP tokens and the volatility of the WFAIR token. Estimates are provided without guarantee and are non-binding; they are listed solely for informational purposes.
What’s Next?
In the follow-up post to this announcement, we will provide a tutorial to walk you through the Wallfair user interface and how to participate in our Liquidity Mining Program.
Make sure you have MetaMask installed. Don’t have Metamask yet? You can follow one of our previously prepared tutorials.
Ensure you have sufficient WFAIR and ETH/USDT to provide liquidity. Don’t have WFAIR? You can follow our extended dex guide on how to purchase WFAIR
About Wallfair
Wallfair is a social event trading platform that democratizes the creative economy, enabling real-time speculation on live events using an in-game token. With a distinct focus on socially engaging, fast-paced and immersive experiences, Wallfair takes watching live events to the next level by enabling the audience to seamlessly trade and profit from speculation markets. In essence, our ecosystem is designed to give creators more ways to monetize their content while increasing their audience and community engagement.
