Rewards Program Announcement: DAOventures Launches Uniswap Liquidity Mining
Bolstering an active and loyal community with more incentive mechanisms
We are moving at lightspeed into Q2 and, as the DAOventures platform evolves, we are making it a top priority to ensure the DVG community is rewarded for their continued support and engagement. Having already partnered with Ferrum Network to offer a 5 day Staking Event that ended on Friday 5th March 2021, we are now pleased to announce another brand new rewards program!
The DAOventures Uniswap Liquidity mining rewards program will give the DVG community an opportunity to earn rewards for providing liquidity to the network; Those who choose to provide liquidity will be rewarded based on their contributions to the liquidity pool and this will be paid in the form of DVG tokens daily!
Details of the Program
The DAOventures Uniswap Liquidity mining rewards program will be a 14 day campaign, launching on Monday, 8th March 2021. Those who choose to provide liquidity will be rewarded based on their contributions to the liquidity pool and this will be paid in form of DVG tokens.
US$28,000 worth of $DVG tokens will be distributed as rewards and payments will be made daily. Users that provide liquidity to Uniswap DVG/ETH pair will earn 15,217 DVG tokens in rewards over a 14 days period.
We distribute the interest collected on the staked tokens among everyone who staked more than 2 hours
How to Participate in DVG LPs Rewards Program?
- Head to https://defiwizard.xyz/daoventures/staking
- Click on the DVG-ETH Liquidity button or use the link below: https://app.uniswap.org/#/add/0x51e00a95748DBd2a3F47bC5c3b3E7B3F0fea666c/ETH
- Connect your wallet using MetaMask or dApp browser. Be sure to have an equivalent amount of $DVG and ETH in your own wallet.
- Add Liquidity of the DAOventures token (DVG) and Ether (ETH) by tapping on the Add DVG-ETH Liquidity button
- Approve DVG-ETH-UNI-V2 to Staking Contract
- Return to DAOventures LPs rewards program: https://defiwizard.xyz/daoventures/staking
- You should be able to see your LP token balance in the dashboard now. Stake DVG-ETH-UNI-V2 tokens by entering the amount and clicking Stake button.
- Users can see individual shares of $DVG rewards on the dashboard and claim rewards at their own convenience.
- Have at least 1 ETH in liquidity as well as 1 ETH worth of DVG tokens
- Once you stake your tokens, you become eligible to receive rewards only after your tokens have been left for at least 2 hours
- After the 24-hour period, all the interest collected from staked tokens will be divided between all stakers based on their contribution to the liquidity pool
- If your contribution is removed before the 2 hours period, you lose all entitlement to rewards for that period of time
- If you re-stake your tokens, you will have to wait another 2 hours to claim rewards
- All the Liquidity providers will share the rewards proportionally
How to remove liquidity & claim rewards
- Unstake DVG-ETH-UNI-V2 by entering the amount to be unstaked.
- Claim DVG rewards through Claim Rewards.
What is a Liquidity Provider?
A liquidity provider is a user who funds a liquidity pool (in this case Uniswap) with cryptocurrency assets to facilitate increased trading liquidity with limited slippage on decentralized exchanges that use AMM (automated market making) models.
In return for their contribution, the user is rewarded with passive income in the form of tokens — This can be the platform’s native token or indeed any other token, NFT or digital asset.
We are excited to be offering even more incentives and passive income opportunities to the DVG holders — We are building a platform that will enable the global adoption of DeFi but we couldn’t do it without the support from our dedicated community, therefore it is only right to reward those who support us!
Make sure to keep your eyes peeled on Monday 8th March 2021 for the launch of the DAOventures Uniswap Liquidity mining rewards program, we’ll be making noise on our Twitter page and within our Community Telegram and Announcement channels!
DAOventures is a money management platform and robo-advisor that works towards making the DeFi space more accessible and inclusive to everyone. DAOventures does this by bringing the best products and services to its community, allowing users to leverage the DeFi space to their advantage.