Introducing Multifarming V3: Evolutionary Upgrades for an Enhanced Yield Farming Experience!
Hello, everyone!
In line with the launch of Tealswap V3, we have opened Multifarming for V3 to continue the Reward Boost experience for our users!
The Multifarming for V3 is quite similar to the experience in V2.
Please refer to the V2 version Multifarming Medium post for more information!
Let me first explain some common features.
As Multifarming on Tealswap V2, Multifarming on Tealswap V3 is short for Multiple Rewards Farming. It’s a place where you can reinvest your NFT Positions, in other words, where you can farm again!
What Multifarming V3 is different from Multifarming V2?
The Multifarming for V3 operates based on an Incentive Program similar to the Campaigns in V2.
Therefore, while users in V2 were only farming in the Farming Pool, resulting in investments in derived Campaigns, in V3, users must invest in each Incentive Program directly.
This structure is identical to that of Uniswap’s V3 Staker.
Additionally, in V3’s Multifarming, which is based on V3, the rewards distribution is influenced by the price range set by the user.
Therefore, if the current price is not within the price range set by the user, farming rewards will not be distributed.
However, the rewards from Multifarming are calculated based on the supplied NFT Positions in the liquidity pool, regardless of the price range. This means that there can be undistributed remaining rewards when the Incentive Program ends.
Moreover, after the Incentive Program ends, the dollar value of the rewards available for claim can fluctuate. This is because the rewards allocated to a user are recalculated at the moment of claiming (or unstaking) based on the Tick, LP, and current swap volume.
After the end of the Incentive Program, the host can withdraw the undistributed rewards. However, this withdrawal can only occur after all the rewards farmed by other users have been distributed.
User Guide for Multifarming V3
1. How to Farm on V3
Step.1 Select Pool to do multifarming
If there is no liquidity provision NFT Position, it means that liquidity is not being supplied to the target pool. Therefore, if an NFT Position does not exist, the Boost button will not be activated.
Step2. Select NFT Positions to farm on Incentive Programs
Please select the position for farming among your existing liquidity provision NFT positions. It is recommended to choose all positions if possible.
Step3. Select Incentive Program and Boost your Reward
Once you have selected the liqudity provision NFT Position to farm, you need to choose the Incentive Program within the target pool to execute the Boost reward.
The default option applies farming to all existing Programs, which is recommended.
You can participate in all available incentive programs and receive farming rewards when the current price range falls within the price range set for each NFT position.
First, you have to approve your liquidity provision NFT positions before execute farming(Boost your reward).
After that, you can finally farm your NFT Position into active incentive programs!
You can see your farming status at Portfolio page.
2. How to Host Incentive Program
Step 1. Get authentication to open Campaign via Discord
For security purposes, you need authentication(Whitelisting) to hold Incentive Programs.
The Authentication(Whitelisting) is done per user wallet(EOA) address.
Step 1–1. Request Whitelisting your EOA
At Incentive section on Tealswap site, You can see below page if you haven’t have your EOA whitelisted yet. If so, click the “Request Whitelisting via Discord” button to go to the place where you can request whitelisting.
Step 1–2. Request Whitelist for Campaign Opening on Discord
Please create a ticket in the Campaign channel of the Tealswap Discord to request permission as a Campaign host for your EOA.
Please follow the instructions in the guidance message when creating the ticket and provide the requested information in your response.
At this point, if you visit the Tealswap Host Incentive Program page, you will see a screen like the one below:
✅ Component Description :
Incentive Program Requester
The current connected Wallet address will be displayed, and it cannot be modified.
Step2. Host Incentive Program
Step 2–1. Select Pool to host incentive program
You will choose the pool in which you want to host the Incentive Program to provide rewards on the related Multifarming pool.
Step 2–2. Select and Input the amount reward token to offer
You can choose any token available for swapping on Tealswap as a reward. And the value you enter cannot exceed the amount of tokens you hold.
Step 2–3. Set the period of the Campaign
You can set the duration for which you can host a campaign.
If you have around $5K in assets, it is recommended to set a minimum duration of about 6 months.
Step2–4. Check Result
Afterwards, you’ll check information about the incentive program you hosted!
3. How Host receiving the remaining rewards left undistributed to users
Step1. Close all other user positions farmed on the Incentive Program
For ended Incentive Programs, rewards must be distributed to farming user positions and ultimately, unfarming must be executed before the Host can withdraw the remaining rewards.
Step2. Withdraw Reward
After closing all liquidity supply positions participating in the target Incentive Program farm, the host can finally withdraw the remaining Incentive Program Rewards.
Take advantage of the Multifarming service in V3, host various Incentive Programs, and boost your rewards through each program!
Tealswap is always eager to hear your feedback and suggestions.
Your input is highly valued, and we look forward to receiving it at any time.
Together, we can shape and enhance the Tealswap platform to better meet your needs and provide an exceptional experience for all users. Let your voice be heard! 📣🤝
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