Today, we are excited to announce the launch of LCX liquidity rewards program for LCX/ETH pool at Uniswap V2. The first quarter 2021 has been truly record-breaking in many ways. We shared many insights in Monty’s last CEO update, we published our Product Roadmap 2021 and $LCX reached a new all-time high.
Uniswap has been tremendous for $LCX with peak daily trading volume of almost $4 Million USD.
We are excited to announce our Uniswap Liquidity Rewards Program. We will be giving out monthly rewards for Uniswap liquidity providers. The liquidity program is going to be launched this Saturday, on April 10th 2021.
The first reward will be 500,000 LCX (from 10th of April to 10th of May — paid out by May 14th). You are only eligible if you are holding the LP tokens (uni-v2) in your own whitelisted wallet.
Liquidity providers benefit by getting ETH and LCX simultaneously. These rewards are paid in LCX to every liquidity provider that locks ETH and LCX 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.
In order to participate, you just have to whitelist your address and add liquidity to LCX’s LCX/ETH pool trading pair at Uniswap V2. The rewards program is automatically renewed on a monthly basis unless said otherwise.
By incentivizing LCX Token holders with rewards, we aim to provide the necessary liquidity to build enduring value for the LCX Token and the LCX ecosystem.
How to be eligible to participate?
- Only whitelisted address are eligible, whitelist your address by clicking this link
- To qualify you need to provide at least 1 ETH of liquidity, plus 1 ETH worth of LCX 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.
- You are only eligible if you are holding the LP tokens (uni-v2) in your own whitelisted wallet.
Basically, we take any qualifying Liquidity Providers at the end of each period and split up the pool among them.
Step-by-step instructions
- Start whitelisting your address by clicking this link
- Once submitted, visit LCX’s add liquidity page on Uniswap here
- Input the number of LCX you want to provide to the liquidity pool (minimum 1 ETH worth of LCX).
- Confirm the liquidity by clicking “Approve LCX” 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.
Disclaimer
- The number of LCX tokens earned as prizes in this program may vary due to other participants in the pool
- Current reward is 500,000 LCX, but we reserve the right to change the amount of LCX that is given as liquidity rewards, at any time.
- Participants in the LCX Uniswap Rewards program may receive varying amounts of ETH and/or LCX from the pool for being liquidity providers, due to the nature of Uniswap and other participants in the pool
- LCX makes no warranties or guarantees as to the safety and security of any and all funds deposited by participants on Uniswap
- LCX has no liability or control over users’ funds lost on Uniswap due to bugs or breaches on Uniswap, or due to the user’s own negligence
- LCX reserves the right to KYC any and all participants in the Rewards Program, and withhold any and all prizes pending KYC
- LCX reserves the right to modify or cancel this Rewards Program at any time, for any reason, and without notice.
