The move will provide LPs on BSC network extra earning opportunities outside the standard fees.
PolkaStarter Extend Liquidity to PancakeSwap LP
More than one month since its launch on BSC network, extensively covered in the blog post from us, Polkastarer has just extended its liquidity incentive program. Yield farming rewards are now on BSC through its Dex partner, PancakeSwap.
Starting today, Liquidity Providers (LP) on PancakeSwap will get an extra $POLS split evenly amongst participants. This LP pool rewards will be a combined 20,000 $POLS; 10,000 for PancakeSwap LPs and 10,000 $POLS for Uniswap LPs.
This rewards will be in addition from LPs’ standard fees. Users are eligible once they lock either BNB or ETH with POLS on PancakeSwap or Uniswap, respectively. The reward will be paid after 28 days, i.e., LPs will have to lock their tokens for 28 days as failure to comply will nullify your participation. In short POLS will act as an extra reward for the pools every month.
Qualification to Participate
To qualify for the monthly rewards, users will have to stake any of the following;
1 ETH and 1 ETH worth of $POLS on Uniswap
7 BNB and 7 BNB worth of $POLS on PancakeSwap
To qualify, users will have to lock their LPs for 28 days, and the rewards are only available afterward.
Before the end of the 28 days, removing the LP will see your nullification from the reward pool.
Each qualifier split the reward pool among the participants evenly by percentage of the pool.
If you remove your LP before the end of 28 days, you will have to wait for 30 days from the next time you add new liquidity to qualify for rewards.
Step-by-step Instructions to Participate
Start the whitelisting process HERE.
Input the number of POLS you want to provide to the liquidity pool (minimum 1 ETH worth of POLS or 7 BNB worth of POLS). The pool will automatically balance both ETH or BNB and POLS tokens. Ensure you maintain the minimum.
Confirm the liquidity and supply the trading pair by confirming all the required transactions.
Polkastarter has issued the following disclaimers to guide the liquidity incentive program;
They reserve the right to end or change the LP reward pool at will without prior notice.
The rewards for each participant vary as rewards the participating pools, i.e., your rewards depend largely on the amount of participating LPs in the pools.
PolkaStarter makes no warranty as to the safety of both Dexes – Uniswap and PancakeSwap. In the case of any eventualities from the platform or the users, they are not to be held liable.
They reserve the right to cancel or modify the liquidity incentive program as they deem fit without prior notice.
More important guidelines are available in its medium post for the event.
PolkaStarter is the leading Polkadot platform that has carried out successful platform launches since its inception. With more than 80 pools and 40 projects, the platform has continued to provide quality IDO launches for its increasing users.
Its recent integration of BSC and an already dominant presence in the Ethereum chain is a testament to its success. The platform has continued to offer users a fully decentralized protocol for launching innovations. Its curation process and industry access provide users with the best projects for blockchain technology. The new incentive program will add an extra layer of earning for LP participants and drive more attraction for more participation.
To learn more about PolkaStarter, follow the links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.