How To Become A Polkastarter Liquidity Provider On Uniswap?
Polkastarter, a Protocol built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot.
Liquidity providers benefit by getting ETH and POLS simultaneously. These rewards are paid in POLS to every liquidity provider that locks $ETH and $POLS on Uniswap for at least 30 days. These rewards are in addition to the normal 0.3% fee liquidity providers automatically get from Uniswap trades on the trading pairs they provide liquidity to.
ARE YOU ELIGIBLE?
- To qualify you need to provide at least 1 ETH of liquidity, plus 1 ETH worth of POLS tokens.
- Each qualifying liquidity add is only eligible for rewards 30 days after they are added.
- Each qualifier splits the reward pool among all qualifiers evenly by percentage of the pool.
- If you remove liquidity at any point, your previous liquidity is disqualified and you must wait 30 days from the next time you add qualifying liquidity to qualify for rewards (this is to prevent paying out to people who rug pull)
- Basically, we take any qualifying Liquidity Providers at the end of each period and split up the pool among them.
STEP BY STEP GUIDE
- Start whitelisting your address by clicking this link
- Once submitted, visit Polkastarter’s add liquidity page on Uniswap here
- Input the number of POLS you want to provide to the liquidity pool (minimum 1 ETH worth of POLS).
- Confirm the liquidity by clicking “Approve POLS” and accept the transaction using Metamask. Use a medium to high gas fee. The transaction may take some time due to possible network congestion.
- Once the transaction is confirmed, click “Supply” and accept the transaction using Metamask. Use a medium to high gas fee.
Participants in the $POLS Uniswap Rewards program may receive varying amounts of ETH and/or POLS from the pool for being liquidity providers, due to the nature of Uniswap and other participants in the pool. Current reward is 100,000 POLS (approximate $30,000 USDT value), but Polkastarter reserve the right to change the amount of POLS that are given as liquidity rewards, at any time, and without prior notice.
ABOUT Polkastarter
Polkastarter is a permission-less DEX built for cross-chain token pools and auctions, enabling projects to raise capital on a decentralized and interoperable environment based on Polkadot.
ABOUT Uniswap
Uniswap is a protocol for creating liquidity and trading ERC-20 tokens on Ethereum. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for fast, efficient trading. Where it makes tradeoffs – decentralization, censorship resistance and security are prioritized. Uniswap is open-source software licensed under GPL.
