IG | Introducing IGGalaxy’s LP Incentive Program: Provide Liquidity, Earn Rewards!

News > Introducing IGGalaxy’s LP Incentive Program: Provide Liquidity, Earn Rewards!

Introducing IGGalaxy’s LP Incentive Program: Provide Liquidity, Earn Rewards!
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Introducing IGGalaxy’s LP Incentive Program: Provide Liquidity, Earn Rewards!

With IGG/ETH listing on UniSwap expected on Sunday 1 November, 17:00 UTC, we are pleased to share initial details of IGGalaxy’s Liquidity Pool (LP) Incentive Program.

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 will consist of IGG and ORB tokens, but we may also look to provide additional rewards to the liquidity providers for IGG in the future.

In 2021, up to 1 billion IGG tokens from the ecosystem incentive allocation will be used for programs such as this and staking. 50m ORB tokens that have been sold to IGLabs will also be used to support this program.

For the launch of IGGalaxy’s UniSwap incentive program, we will be distributing 15m IGG and 1m ORB tokens to eligible liquidity providers in the first rewards period, between 1 - 15 November!

If you wish to participate in this program, please read on!

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!IGGalaxy’s Liquidity Pool Incentive Program: Launching with UniSwap Protocol!

Purpose of IGGalaxy’s LP Incentive Program

  • The purpose of this incentive program is to encourage the provision of liquidity for particular IGG trading pairs, which is essential to grow the usage and volume of IGG.

Benefits of IGGalaxy’s LP Incentive Program

  • By incentivising deeper liquidity reserves, we open up the door to new traders and holders as greater volumes of transactions can be facilitated with less slippage.
  • The rewards used for our LP incentive program creates buying demand, where IGG is purchased to ‘liquidity mine’ IGG, ORB and other rewards.
  • Furthermore, through incentivising deeper liquidity and facilitating greater trade volume, this program will make it more profitable to own a share of the liquidity pool.
  • In addition to the rewards earned from our incentive program, liquidity providers earn a share of the 0.3% fee for swapping tokens on UniSwap.
  • Swapping fees are immediately deposited into liquidity reserves. This increases the value of liquidity tokens, functioning as a payout to all liquidity providers proportional to their share of the pool.
  • Fees are collected by burning liquidity tokens to remove a proportional share of the underlying reserves.

Current Listed Exchanges

The initial exchange, where you will be able to provide liquidity and earn rewards is UniSwap

IGG will list on UniSwap paired to ETH!IGG will list on UniSwap paired to ETH!

We are currently exploring both QuickSwap and Dfyn AMM DEX’s that exist on Matic, with the intention to create and inject initial liquidity for IGG/MATIC trading pair and to add them to IGGalaxy’s LP Incentive program, which we expect in the coming week.

We will most likely select just one of these L2 exchanges initially to provide our community with a cheaper and quicker alternative trading platform to UniSwap.

Introduction to AMM Decentralised Exchanges

  • Decentralised Exchanges (DEX’s) allow anyone to trade. All you need is a cryptocurrency wallet that supports the blockchain that the DEX operates on.
  • Many DEX’s can be accessed on mobile via crypto wallets in-built browse, such as MetaMask and Klever.
  • Alternatively, you can download browse extensions (such as MetaMask) to connect and interact with the DEX.
  • Automated Market Maker (AMM) is a type of DEX protocol that relies on a mathematical formula to price assets.
  • Anyone can create pairs and add liquidity, earning a share of the trading fees
  • The key difference is these exchanges do not have order books.

How the IGGalaxy LP incentive program will work:

  • Allocated Pool of Rewards
  • Prior to each reward period, we will provide the total allocated pool of rewards available to liquidity providers.
  • Reward Period:
  • This is currently set at 2 weeks (14 days)
  • During this period, all liquidity provided is recorded in terms of amount and duration left in pool. At the end of this period, the allocated pool of rewards will be distributed.
  • Distribution of Rewards
  • Rewards will be distributed proportionately to eligible wallets, based on the amount of liquidity added and duration left in the pool over this period in comparison to others.
  • For example, if you consistently have provided 50% of the liquidity for the trading pair, you will earn 50% of the allocated rewards for that period as well as 50% of all transaction fees.
  • ALL rewards will be distributed to liquidity providers via the Matic network - the rewards will be sent to the corresponding Matic wallet of the liquidity providing wallet.
  • Eligibility to earn Rewards - Minimum Liquidity Requirement
  • While anyone can participate in the LP Incentive Program, there will be a requirement set for a minimum amount of liquidity that must be added to become eligible for that Reward Period.
  • Minimum Liquidity Threshold
  • Prior to each Reward Period, we will provide the minimum required added liquidity in order for the rewards pool to be maintained at 100%. If it is not reached, the rewards pool will be adjusted accordingly.

This will be an incentive program that we will continue on a rolling bi-weekly basis.

IGGalaxy’s UniSwap Liquidity Pool Incentive:

UniSwap Liquidity Pool Incentive.UniSwap Liquidity Pool Incentive.

  • IGG rewards will enter circulation and will be distributed from the staking allocation within the ecosystem incentives
  • ORB rewards will be from the existing supply as it will be distributed from the remaining 50% sold to IGLabs)

As previously outlined, we will be monitoring the Incentive Plan and adjusting accordingly with regards to the purpose.

Please Note:

To keep up to date with developments, please follow us on our various social media channels:

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