News > IGGalaxy’s UniSwap Liquidity Pool Incentive Program Launched!
On Saturday 31 October, we released an article introducing IGGalaxy’s Liquidity Pool (LP) Incentive Program ahead of IGG’s listing on UniSwap.
As we outlined in the article, this incentive program will reward those who provides liquidity for IG Gold (IGG) trading pairs on specified decentralised exchanges (DEX’s), starting with IGG/ETH on UniSwap. The rewards for these pools will consist of IGG and ORB tokens, but we may also look to provide additional rewards to liquidity providers for IGG in the future.
The first reward period of the IGG/ETH UniSwap Liquidity Pool of the Incentive Program will take place between 1 November to 15 November! Over this two week period, any wallet that adds the minimum requirement of ETH and IGG will be eligible to share the 15m IGG and 1m ORB. The more you add and the longer you leave it, the more you will earn!
We highly recommend reading the article shared above, which introduces the incentive mechanism. This article covers the key points in the article we released on Saturday
Please note that the details provided below are provisional and are subject to change as we get more data and strive optimise the program for its intended purpose.
IGGalaxy’s Liquidity Pool Incentive Program: Launching with UniSwap Protocol!
For each Automated Market Maker (AMM) Decentralised Exchange that we list in this program, we will provide rewards for those who support the IGG token economy by providing liquidity.
Please see below the key components to this incentive program that will apply to current and future pools:
Allocated Pool of Rewards
Eligibility to earn Rewards - Minimum Liquidity Requirement
Distribution of Rewards
Minimum Liquidity Threshold
For the first launch reward period of the UniSwap Liquidity Pool for IGG/ETH, we are providing 15m IGG and 1m ORB tokens as rewards.
The amount of rewards you receive from this pool will be based on the amount of liquidity you provide and the duration that you leave the liquidity over this reward period.
IG Gold (IGG) is the operational token of IGGalaxy. We have provided an extensive but non-exhaustive list of use cases for IGG in our recently released LitePaper v2.0. This includes the requirement of IGG for entry fees/deposits for particular tournaments, premium subscriptions, team creation, team-player contracts and much more!
In addition, since May 2019, IGLabs currently allows IGG holders to store IGG tokens in capsules for a fixed period of time; by doing so, you burn 0.2% of IGG locked in the capsule, but earn ORB tokens as a reward.
ORB tokens will play the role of a governance token for IGGalaxy and operational token for IGLabs.
ORB can always be sold to IGLabs (at a current guaranteed rate of 5 IGG per ORB). 50% of all ORB tokens sold to IGLabs is burned from existence, effectively reducing the total supply, making it a highly deflationary token.
IGLabs now exists on Matic network, where Capsule creation is incredibly cheap! 1 Matic will last you around 1000 Capsuled - you can check out our guide on getting started with IGLabs to earn ORB.
To demonstrate how this works, we will walk you through a simplified example:
The rewards will be sent quickly through the Matic network - they will be sent to the liquidity providing Ethereum wallet’s corresponding Matic network address.
There are numerous benefits to providing an incentive program that encourages deeper liquidity reserves:
This week, we will select one of the MATIC DEX’s to inject initial liquidity into IGG/Matic pair. We will then list the trading pair on the exchange as part of IGGalaxy’s Liquidity Pool Incentive program, creating a separate pool of rewards.
We look forward to sharing more details on that in due course. We will also look to add more pools as we identify decentralised exchanges we intend to strategically list on.
What is the risks of providing liquidity?
How do I add liquidity to UniSwap IGG/ETH pair?
If I add more liquidity over a reward period, will it count?
Will IG’s added liquidity count toward the program?
How do I collect the fees I have earned from providing liquidity?
To keep up to date with developments, please follow us on our various social media channels:
On Saturday 31 October, we released an article introducing IGGalaxy’s Liquidity Pool (LP) Incentive Program ahead of IGG’s listing on UniSwap. Shortly after, we released the details of IGGalaxy’s UniSwap Liquidity Pool Incentive Program which provided our first reward period of the IGG/ETH trading pair on UniSwap.
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