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.

What is the purpose of IGGalaxy’s liquidity 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.

How does IGGalaxy liquidity pool incentive programme work?

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.

Example:

Let’s say two wallets added the minimum liquidity required and also reached the minimum liquidity threshold

• Wallet A added 70% of the total liquidity over the duration of the reward period, whereas Wallet B added 30% of the total liquidity
• Wallet A will receive 70% of the allocated rewards pool and Wallet B will receive 30%.

UniSwap reward period schedule

• RP 7: 24 January to 7 February
• RP 8: 7 February to 21 February Liquidity rewards for UniSwap exchange!

Dfyn reward period schedule

• RP 5: 16 January to 30 January
• RP 6: 30 January to 13 February
• RP 7: 13 February to 27 February Liquidity rewards for Dfyn exchange!

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.

How does this incentive benefit the IGG token economy?

This liquidity programme will inevitably:

• bring valuable exposure to our IGG token as we seek to attract more holders from the wider crypto space;
• create buying demand, where IGG is purchased with the aim of ‘farming’ IGG, ORB and other rewards;
• make it more profitable to own a share of the liquidity pool as liquidity providers earn a share of the 0.3% fee for swapping tokens on UniSwap, as well as receiving liquidity rewards.

FAQs

What is the risks of providing liquidity?

There are two risks you should be aware of:

1. Cryptocurrencies are volatile . The value of liquidity you provide may be impacted by fluctuations in the crypto market.
2. Impermanent loss .  Swaps are facilitated by the tokens within the liquidity pool. This can lead to impermanent loss of your tokens, which we highly recommend reading up on prior to participating.

• There are risks of ‘rug-pulls’ with projects with ghost teams and no intention to build anything meaningful. We encourage you to always do your due diligence.

How do I add liquidity to UniSwap IGG/ETH pair?

1. You will need a web3.0 wallet. Check out our guide on how to set up and use MetaMask, if you would like support getting started.
2. Once you have a MetaMask Ethereum wallet with IGG and ETH/MATIC tokens, you can follow our instructions on how to add liquidity to a pool in our article sharing that IGG had been listed on UniSwap.

If I add more liquidity over a reward period, will it count?

• Yes! We will continuously capture the data of amount of liquidity added by individual wallets and the duration of time that the liquidity has remained.

Will the liquidity Intergalactic Gaming provide count towards the programme?

• No, the initial liquidity we have provided for UniSwap or other pools will not count toward the reward programme.

When will my rewards be sent out?

• For now, all rewards for the liquidity pool incentive programme will be sent up to three days after the reward period has concluded. As more liquidity pools for IGG swap pairs proliferate, we will optimise the method rewards are sent.

How do I collect the fees I have earned from providing liquidity?

• Swapping fees are immediately deposited into liquidity reserves.
• This increases the value of liquidity tokens that function as a payout to all liquidity providers proportionate to their share of the total pool.
• Fees are collected by burning liquidity tokens to remove a proportional share of the underlying reserves ; for example, withdrawing your liquidity.

What are IGG & IG ORB (ORB) tokens?

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!

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