Algebra on Arbitrum: Incentivized ALGB/ETH Pool on Camelot powered by Gamma
We keep expanding to other chains with ALGB! This time, our platform token is available on Arbitrum. With the help of our dear partners, Camelot & Gamma Strategies, you can now trade, provide liquidity, utilize the ALM strategies to maintain your position in the range, and earn rewards! Learn more about it below.
The Arbitrum Extravaganza: Provide Liquidity & Get Rewarded
In our ongoing mission to enhance token liquidity and offer more benefits to our community, we’re delighted to introduce a new LP incentivization program in collaboration with Gamma Strategies and Camelot!
As part of our commitment, we’re set to launch an incentive initiative designed to encourage liquidity provision for the ALGB-ETH pair on Arbitrum.
Each week, in partnership with Camelot, we’re going to offer a certain pool prize in $ARB for liquidity providers in our ALGB-ETH pool. Our program features two types of incentives: Nitro rewards & MM rewards.
Nitro rewards are exclusively available to those depositing liquidity in Gamma’s ALGB-ETH vault.
Additionally, users can manually provide liquidity and receive Market Maker rewards through Merkl. These rewards can be claimed directly from our interface. Please note that these rewards are computed approximately every 4 hours, so there may be a slight delay before users can see them accruing.
To participate, you’ll need both ALGB & ETH tokens. To have ALGB on Arbitrum, you need to either get it on Camelot, or wrap it via Rubic. After that, you’ll be able to earn rewards from trading activities by contributing liquidity & unlock the incentives!
To begin earning rewards with your ALGB tokens on Arbitrum, follow these steps:
1️⃣ Bridge ALGB from Polygon to Arbitrum using Rubic
2️⃣ Visit Camelot’s ALGB / ETH pool page & click ‘Add Liquidity’
3️⃣ Connect your wallet & select a pair — ALGB against ETH
4️⃣ Choose the LP mode — ‘manual’ or ‘auto’
The second one is the strategy provided by Gamma, aimed to keep your position in range. The first one is recommended for those familiar with LPing. If you choose to provide liquidity manually, you’ll need to select a custom price range.
5️⃣ Choose the amounts to be provided
6️⃣ Approve both token amounts to be deposited & click ‘add liquidity’
Congrats, you now have an LP position on Camelot with your ALGB & ETH tokens. With the current APR of 25%, it’s a win-win for those seeking income with ALGB.
How to Wrap Your ALGB? Migrating ALGB to Arbitrum via Rubic!
Token Addresses:
Polygon: 0x0169eC1f8f639B32Eec6D923e24C2A2ff45B9DD6
Arbitrum: 0x9F018bDA8f6B507a0C9e6f290B2F7c49C2F8daf8
How to bridge $ALGB from Polygon to Arbitrum:
- Visit Rubic’s dApp & connect your wallet.
Click ‘select token’ and choose ALGB on Polygon, then click ‘select token’ in the second tab and choose ALGB on Arbitrum. You can use the token addresses given above, too.
You can also simply use this exact link.
Enter a desired amount. Your trade is being built — wait a little!
2. Click on Preview swap; Then, click on Swap.
3. At this point, you must approve your transaction.
The amount to be approved is equivalent to the number of tokens to be bridged. For safety reasons, it is better not to approve more tokens. For the next bridge the user will need to give approval again. Once done, click ‘Confirm’
4. Once confirmed, the signing of the bridging transaction is initiated. Click ‘Sign’.
5. The bridging is almost completed. Now, you should wait for 20–30 minutes for the transaction to be fully completed.
6. You can leave the page if needed, or just keep it opened — it doesn’t affect anything. If you close the tab or navigate to another page, you can check the status of the transaction on the ‘recent trades’ page. Here is the link: https://app.rubic.exchange/history.
If you didn’t close the page, you can also check the transaction status by clicking on ‘See Details’.
7. After 20 or 30 minutes, your transaction should be completed. Make sure to check the ‘Success’ in the ‘Status to’ tab.
8. Congrats, your ALGB is wrapped on Arbitrum!
About Algebra
Algebra is a Protocol enabling projects to integrate Concentrated Liquidity tech, alongside other groundbreaking features — Dynamic Fees, Built-in Farming, and more. Already seamlessly integrated into various DEXes across different chains, including Camelot, THENA, QuickSwap, StellaSwap, Zyberswap, Lynex, Magma, Swapsicle, Synthswap, KIM, Hercules, Swapr, and more, Algebra propels them to higher trading volume & enhanced capital efficiency. Learn more on our website: algebra.finance.
$ALGB is the platform token of the Algebra Protocol, used for governance. Weekly buybacks & burns are aimed to reduce the circulating supply & increase the ALGB value. ALGB on CoinMarketCap.
