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The first liquidity mining programs for Chainlink (LINK) and The Graph (GRT) will go live this weekend on FuseSwap, rewarding Liquidity Providers on the LINK/WETH and GRT/WETH pairs with 25,000 FUSE tokens per pair over a 1-month period.
Note: WETH is wrapped Ether. More information here.
- Programs Starting: Saturday 20th March at 3 pm UTC.
- Duration: 1 month.
- Liquidity Pools: LINK/WETH and GRT/WETH.
- Total Rewards: 50,000 FUSE (25,000 FUSE for each pool).
- DEX: FuseSwap.
- Platform: Fuse Network.
The team at Fuse is delighted to introduce a new liquidity mining program to reward LINK/WETH and GRT/WETH Liquidity Providers (LPs) on FuseSwap. A total of 50,000 FUSE will be allocated in rewards for network participants.
Chainlink is the industry-leading provider of decentralized oracle services for blockchains and decentralized applications. Fuse integrates Chainlink as the recommended oracle service provider, and the initial collaboration involves their oracles powering the FuseDollar stable coin via the proof of reserve functionality. The integration enables Fuse to verify the 100% backing of FuseDollar by USDC.
The Graph is a decentralized protocol for indexing and querying blockchains. It enables application developers to save costs and friction while extracting data from blockchains. Fuse deploys The Graph by creating subgraphs for the core products on the platform, including Fuse Studio and FuseSwap. In addition, subgraphs can now be created for any dApp on Fuse.
By incentivizing Chainlink and The Graph LPs with rewards, we aim to increase LINK and GRT liquidity on FuseSwap allowing community members to gain exposure to two top-50 coins.
In addition to the 0.3% trading fee commissions earned via FuseSwap, LPs will also earn their share of the 25,000 FUSE tokens allocated to the relevant pool, distributed proportionally based on how much is contributed to the pool.
A quick guide on how to participate in the LINK and GRT Liquidity Rewards Programs on FuseSwap:
Step 1: Transfer your LINK/GRT and WETH tokens from Ethereum to Fuse Network via the bridge on FuseSwap.
Step 2: Provide liquidity on the LINK/WETH or GRT/WETH pool.
Step 3: Head to rewards.fuse.io and locate the relevant LP program under “Fusewap Rewards”. Deposit LP tokens starting from Saturday, 20th March at 3 pm UTC.
Step 4: 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 purchasing LINK, GRT and WETH tokens and transferring them to Fuse Network using the 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 139 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.
More information on bridging assets and adding liquidity can also be found in our documentation.
Please note that due to high gas fees, transferring assets from Fuse Network to Ethereum currently is currently subject to a $1,000 minimum. This is important to consider before taking part in the program.
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