News > IGGalaxy liquidity pool incentive programme: UniSwap & Dfyn reward periods
On Saturday 31 October 2020, we released an article introducing IGGalaxy’s liquidity pool incentive programme ahead of the listing of our IG Gold (IGG) token on UniSwap exchange.
Since, we have distributed over 80m IGG and 1m ORB to liquidity providers across the two listed exchanges: UniSwap (Ethereum) and Dfyn (Matic)! We would like to thank all liquidity providers for their ongoing support!
We will continue to incentivise deeper liquidity over the course of this year, particularly as we look to provide fiat on/off ramps directly via IGGalaxy, which will no doubt significantly improve our users’ experience.
Read on to find out about the upcoming reward periods, and how you can participate to begin earning a share of allocated IGG and ORB tokens!
IGGalaxy liquidity pool incentive programme.
The purpose of this incentive programme is to encourage the provision of liquidity for particular IGG trading pairs, which is essential to grow the usage and volume of the IGG token itself.
Each reward period is currently set at two weeks (14 days), but may change as the liquidity programme develops. For each reward period, there will be a set amount of IGG and ORB that will be distributed. To be eligible for a share of these rewards, you must supply liquidity that meets the minimum liquidity requirement.
Our database continues to track and record wallets that contribute sufficient liquidity pools, with the rewards being determined by the amount of liquidity provided and the duration it is in the pool for; the more liquidity you provide and the longer you leave it in, the more you earn.
All rewards will then be distributed via Matic Network within three days of the reward period concluding.
Let’s say two wallets added the minimum liquidity required and also reached the minimum liquidity threshold
It is worth sharing that there may be a subsequent update in the near future related to our Dfyn liquidity incentive programme. With the recent launch of Router Protocol by the same team behind Dfyn, we are exploring potential dual-token farming within their Space Farm. We will provide more details on this when appropriate, but you can find out more about Router Protocol in our upcoming Telegram AMA.
This liquidity programme will inevitably:
What is the risks of providing liquidity?
There are two risks you should be aware of:
How do I add liquidity to UniSwap IGG/ETH pair?
If I add more liquidity over a reward period, will it count?
Will the liquidity Intergalactic Gaming provide count towards the programme?
When will my rewards be sent out?
How do I collect the fees I have earned from providing liquidity?
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!
ORB tokens will play the role of a governance token for IGGalaxy and operational token for IGLabs. ORB can be sold to IGLabs directly via your IGWallet at a current guaranteed rate of 5 IGG per ORB. 50% of all ORB tokens sold to IGLabs are burned from existence, effectively reducing the total supply — it’s a highly deflationary token.
IGLabs now exists on Matic Network, which is great news as it means it is incredibly cheap to create capsules! To start earning ORB tokens for storing your IGG in IGLabs power capsules, check out our guide on getting started with IGLabs!
Non-fungible tokens, or NFTs, are a type of cryptographically generated token that represent ownership and value. Though it has emerged in the mainstream from its application within the blockchain space, in particular, becoming a highly trending topic in recent months, its popular use case long predates the technology.
February 26, 2021
Layer-two scaling solution, Matic Network, has today announced that it will rebrand to Polygon in a move to help Ethereum network cope with its prominent scalability issues.
February 9, 2021
From Sunday 31 January, you’ll no longer be able to stake your MATIC tokens to the Matic Foundation’s nodes. For those currently delegating to MATIC Foundation nodes, you must re-delegate your staked MATIC to public validators to be eligible for staking rewards.
January 29, 2021
Transcript of Telegram AMA with Router Protocol: Thursday 28 January, 2021.
January 28, 2021