Announcing the Liquidity Pool Rewards Distribution
We at ADD.xyz have been running our liquidity pools program on Uniswap and other native platforms for more than a year. We wish to convey our sincere gratitude to all the liquidity providers who have provided liquidity in our pools.
We realize how much Add.xyz means to you and needless to say your contribution in our liquidity pools have been the sources of its vitality. We wish to inform all the liquidity providers that our team at Add.xyz realize the importance the liquidity you have provided in our pools has played and hence, we will be rewarding all the liquidity pool providers who have deposited liquidity in our liquidity pools for more than 24 days.
We will distribute the rewards in two phases. The phases has been decided based on the dates our liquidity providers added liquidity.
- All the providers who added before December 31, 2020 will be rewarded in the first phase.
- In phase 2, we will reward the depositors who deposited between January 1, 2021 to May 30, 2021.
A total of 44,490 in ADD tokens have been announced for the liquidity providers who provided liquidity in phase 1. Here are the list of all the ERC wallet addresses that are receiving the rewards in this phase.
These rewards have been calculated based on their liquidity pool share on each day they provided liquidity on. For example, if the user deposited 10,000 ADD tokens for 25 days and the total pool size was 500,000 ADD tokens for those 25 days, the user is rewarded 2% of the total pool rewards. There are users who have deposited multiple times in our liquidity pool and the liquidity pool size was also different each day. Their pool share have been calculated each day at 23:59 PM and the rewards of each day have been added to calculate the total sum of rewards they will be receiving in the coming days.
The liquidity pool rewards will be distributed this week. We calculated the average APY for these 6 months. Maximum an individual deposited their ADD tokens was for 5 months. The average APY of all token holders based on the number of days they deposited and the rewards they earned is coming to be 43.6% (can vary due to individual’s pool share on the days they provided liquidity). We are again thankful to all the providers for their contribution and supporting the ADD.xyz DeFi ecosystem.
As our developers continue to build the top-notch DeFi aggregation products, we promise to keep bringing similar opportunities of earning ADD for you. We are also pondering upon the new staking liquidity pool in the coming days and would like to know our community’s thoughts about it.
We have also recently announced our token burn program where we will be burning 5.96% of our token supply. Token burns, as customary, will boost the utility of our ADD token alongside other functionalities the token will hold in our comprehensive suite of privacy-preserving DeFi aggregating products.
For any questions please feel free to reach out to us on:
Website: https://add.xyz/
Telegram: https://t.me/ADDXyzpublic
Twitter: https://twitter.com/adddotxyz
Medium: https://medium.com/@Add.xyz
Reddit — https://www.reddit.com/r/ADDxyz/
