DAOventures Liquidity Mining DAOmine Launched
🎉 DAOventures has launched its liquidity mining program called DAOmine.
DAOmine is the liquidity mining smart contract of DAOventures. Users can get DVG Token rewards by staking their ERC20 LP Tokens to the corresponding pool.
The earlier the users stake and the more DVG tokens they stake, the more DVG rewards they get.
The DAOmine provided by DAOventures is LIVE!
The liquidity mining process will be divided into multiple cycles, and the time and number of blocks of each cycle are the same. In the first cycle, each block will mine 30 DVGs, and then the number of DVGs mined in each block will be reduced by 3.5% in each cycle. One cycle lasts 2 weeks. 51% of DVGs will be allocated to each liquidity provider user as a reward.
There are multiple investment strategies on DAOventures platform. Each will create corresponding pools (ERC20 LP Token <->DVG) for each ERC20 LP Token on DAOmine. Each pool has a corresponding weight, and the total weight of all pools equals 100%.
Currently the DAOventures Liquidity Mining Program “DAOmine” only gives to DAO Citadel, DAO FAANG Stonks, Uniswap LP DVG/ETH, and DAOvip.
Liquidity mining is a kind of yield farming where users earn additional token rewards by depositing paired assets into a liquidity pool — hence the term, “liquidity mining”. When the money market Compound announced a liquidity mining program for its governance token, COMP, last year, it kicked off the boomlet known as DeFi Summer 2020.
Note: Snapshots were taken in a testnet environment and so the numbers shown are not representative. The snapshots above are for instructional purposes only.
Connect your MetaMask and select a strategy that you would like to invest in.
Here we choose one of the most popular strategies DAO FAANG Stonk:
Go to “DAOmine” under https://app.daoventures.co/daomine
Stake your daoSTO LP token.
Approve and deposit.
After this transaction is confirmed, you will receive DVG tokens as LP rewards in your account.
DAOventures is a DeFi robo-advisor and automated money management platform. Imagine “Robinhood for DeFi”. It is our mission to make DeFi simpler, accessible & inclusive. We believe in creating a simpler, more accessible, and more open world that is permissionless, inclusive, and guided by our DNA of continuous learning, integrity, and transparency.