DAFI Protocol reported last Monday, May 31, through its Twitter account, that the DAFI Liquidity Rewards program is live. According to the company, starting today, users who provide liquidity to the DAFI / ETH trading pair on Uniswap will be rewarded with an initial APY of 401.83%. Furthermore, he announced that they have allocated $5,000,000 DAFI tokens for at least 30 days.
“We are excited to finally launch our first liquidity rewards program at Uniswap. As of May 31, we will incentivize those users who add liquidity to the DAFI / ETH trading pair with an initial APY of 401.83% through the platform”, he said through an article published on the Medium platform.
The company indicated that liquidity providers will be entitled to the regular 0.3% exchange fee provided by Uniswap and will receive DAFI token rewards for wagering their Uniswap Liquidity Pool LP tokens. By growing DAFI, users can receive incentives while building a better network.
How to take part
The company detailed the steps that users must take to participate in the program:
• First plug your wallet into the dash here.
• You can then bring liquidity directly through the DAFI Uniswap pair here. Alternatively, you can use the DeFi Terminal dashboard by simply clicking the + symbol, which opens the following window within the dashboard.
• Simply click on ‘Stake Out’ and a window to approve will appear. The transaction in progress will be displayed at the top of your dashboard, after that, just click Participate.
• Congratulations! You will now receive rewards from the program. You can always join the board to see your accumulated rewards over time.
• Start date: Monday, May 31 at 19:00 CET
• Control panel: https://dafi.defiterm.io
• Uniswap pair – DAFI / ETH
• Duration: 30 days (with the option to extend it for a longer time)
• Allocation: 5,000,000 DAFI tokens
• Starting APY: 401.83%
About DAFI Protocol
According to the company, DAFI can reward a network even when demand decreases by issuing synthetics that will reward the user later, rather than earlier. This approach will change the foundation of all systems of participation, liquidity and even social rewards for the entire decentralized world.