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The first liquidity mining program for the FUSE/fUSD pool will go live today, April 29th, on FuseSwap, rewarding Liquidity Providers on the pair with 100,000 FUSE tokens over a 3-week period.
- Program Starting: Thursday, April 29th at 3 pm UTC.
- Duration: 3 weeks.
- Liquidity Pool: FUSE / fUSD.
- Total Rewards: 100,000 FUSE.
- DEX: FuseSwap.
- Platform: Fuse Network.
The team at Fuse today introduces a new liquidity mining program to reward FUSE / fUSD (FuseDollar) Liquidity Providers (LPs) on FuseSwap. A total of 100,000 FUSE will be allocated in rewards for network participants.
fUSD (FuseDollar) is the first native stablecoin on Fuse. It is fully backed by USDC tokens and it can be minted on FuseSwap by anyone depositing USDC.
By creating an incentive for users to provide liquidity on the FUSE/fUSD pool, we are making an important step towards making FuseDollar a prominent stablecoin and an engine for growth within the Fuse ecosystem.
In addition to the 0.3% trading fee commissions earned via FuseSwap, LPs will also earn their share of the 100,000 FUSE tokens allocated to the pool, distributed proportionally based on how much is contributed to the pool.
A quick guide on how to participate in the FUSE/fUSD Liquidity Rewards Program on FuseSwap:
Step 1: Transfer your USDC tokens from Ethereum to Fuse Network via the bridge on FuseSwap (if needed).
Step 2: This will allow you to emit fUSD one-to-one for each USDC token using the pegswap functionality in FuseSwap. Simply swap USDC for fUSD as you normally would but with zero slippage thanks to the direct peg.
Step 3: Provide liquidity on the FUSE/fUSD pool.
Step 4: Head to rewards.fuse.io and locate the FUSE/fUSD LP program under “Fusewap Rewards”. Deposit LP tokens starting today, 29th April at 3 pm UTC.
Step 5: You will receive your rewards at the end of the program when you withdraw your LP tokens and “claim”.
Additional information:
APY is constantly changing as more people participate and new liquidity is added.
For those transferring USDC tokens to Fuse using the Ethereum bridge, it can be helpful to track gas fees to try and find the optimal time to make these transactions. At the time of writing, average gas fees are around 57 gwei.
A tutorial is available here on how to:
- Bridge assets from Ethereum to Fuse Network.
- Add liquidity on FuseSwap.
- Deposit LP tokens to receive rewards in FUSE token.
Those who wish to move the liquidity from the existing FUSE-USDC pair on FuseSwap to the FUSE-fUSD pair can consult this tutorial.
More information on bridging assets and adding liquidity can also be found in our documentation.
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