BitDAO is Now Live On SushiSwap’s Onsen
~34M BIT tokens will be allocated to farming rewards on SushiSwap š£ over the next ~180 days.
First Tranche Parameters
- Starts: Aug. 31 0001AM UTC
- Stake: BIT-ETH SLP
- Duration: 30 days (but will likely continue at similar rates for 180 days)
- 96 SUSHI per day
- 186,667 BIT per day
- As stated in anĀ earlier articleĀ the BIT-ETH SLP that has been created as part of the MISO airdrop bonus will participate in this farm immediately. The SLP and associated rewards will be airdropped to MISO participants 90 days later.
How to Participate
Step 1: Create a BIT-ETH SLP
https://app.sushi.com/add/ETH/0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5
Here are someĀ BIT-ETH pair analytics.
Step 2: Stake your BIT-ETH SLP
Note
Upsides:
- Earn BIT swap rewards
- Earn SUSHI swap rewards
- Earn BIT-ETH SushiSwap swap fees
Risks:
- Exposure to BIT price
- Exposure to ETH price
- Exposure to impermanent loss (constant product AMM pools)
About BitDAO
BitDAOĀ aims to use its significant financial and talent resources to foster and invest in innovation, collaboration, and growth acrossĀ Decentralized Finance.Ā BitDAO is a protocol governed by BIT token holders.
About SushiSwap
SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain. In addition to DEX, SushiSwap involves a collection of governance, operations, and reward contracts that help grow the SushiSwap ecosystem and utilization.
