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Add.Xyz ($PLT) Liquidity Staking Uniswap Rewards Program! — Details Revealed

ADD.xyz’s Staking Liquidity Program is about to launch!

We’re letting our community share the love and support us by staking their PLT/ETH into the Uniswap Pool in order to receive a share of 150,000 $PLT (approximately 10K USD) per month equivalent in PLT tokens and the Uniswap v2 Token!

All you have to do to qualify is make sure your tokens are held in the PLT/ETH Uniswap pool for at least 30 days. You’ll need an equivalent amount in ETH in order to provide liquidity to Uniswap. The rewards program is automatically renewed on a monthly basis unless said otherwise.

As liquidity in the pool grows, we will also increase the monthly reward in proportion.

Uni what?

Uniswap is a decentralized exchange (DEX) that allows users to directly swap ERC20 tokens without a third party. Rather than using the traditional order book model, Uniswap pools tokens into smart contracts and gives users the possibility to trade against these liquidity pools. Anyone can swap tokens, add tokens to a pool to earn Uniswap’s governance Token UNI, or list a token on Uniswap. If you provide liquidity, you get a .3% fee generated by Uniswap trades.

Why Uniswap?

If you haven’t been living under a rock you probably have heard about the terms DeFi (Decentralized Finance) and Uniswap (or any other decentralized exchange like Balancer or SushiSwap). DeFi and decentralized Exchanges have gained an insane amount of exposure and popularity in the past couple of months. YFI even dethroned Bitcoin by peaking up above the price point of $40,000 per token which was four times the price of a single Bitcoin. This also caused a new trend wave of decentralization, as many users stepped over to using a decentralized Exchange over a traditional centralized Exchange like Binance or Coinbase Pro.

Why not just usual staking?

The days of POS staking like 2017 and 2018 are over, there are new, more innovative and meaningful ways of creating value through the newest forms of staking. Yield farming is essentially a new form of staking tokens in the form of locking liquidity. Just like with our Staking Liquidity program, users will be able to stake their PLT, with an equivalent amount of ETH and participate in the share of monthly PLT rewards.

  • Phase 1: October 27th 13:00:00 hrs GMT 10k USD (Approximately 150,000 PLT at time of launch) Staking Liquidity Pool Launches
  • Phase 2: November 28th — Internal discussion to open a bonus UNI-V2 Staking Liquidity Pool Decision due end of October
  • Phase 3: December 28th — PLT Uniswap staking integrated into V2 Add.xyz dashboard.

What about the hacker and the hacked tokens?

To a large degree, this is how decentralisation works. We are not going to roll back time and reverse the blockchain as we have no future guarantees that hacks or internal exploits like this will not happen again. Naturally, due to the mechanics of Uniswap, if the Hacker attempts to liquidate large sums of $PLT, they will be penalised on the price, and users may wish to accumulate tokens at a potentially suppressed price.

There is a natural equilibrium in play, and using the experience of other projects like DIA, with a large part of their circulating supply having been liquidated by the thief, they were relatively unharmed. Overall, the potential liquidity that the hacker could gain is low (Approximately $500k) in comparison with the historical volumes on $PLT ranging from $30m to $2m USD before the halt of trading on Kucoin.

How It Works:

It’s quite simple. All you have to do is provide liquidity in the PLT/ETH pool on Uniswap V2. If you’re not sure about how a liquidity pool works, check this guide.

What are the Requirements to be Eligible?

There are only two simple requirements, really.

  1. First, to be eligible for rewards, you must have locked liquidity (the initial amount must be equal to or greater than 1 ETH) on the PLT/ETH pool for at least one month.
  2. In addition, you must also whitelist your address here. It’s as simple as that.

How the Staking Rewards will be Distributed?

Whitelisted addresses who have successfully staked liquidity for 30 consecutive days will be rewarded a share of the $PLT token rewards based on the proportion of the the liquidity locked based on the size of the LP token.

The $PLT rewards will be distributed within 5 working days of the staking program coming to an end.

Disclaimers

Please do keep in mind you cannot control the amount of any individual token (ETH or PLT) you get out of the pool. Sometimes the amount can consist of a larger share of ETH than PLT, or vice versa. Please read more about impermanent loss here.

Add.xyz has no control over lost funds on Uniswap.

Add.xyz reserves the right to cancel or modify the program at any time.

FAQ

What is Uniswap?

Uniswap is one of the most used smart contracts in crypto and known to many across the industry as a liquidity leader. They have a FAQ of their own that you can check out right here.

How does Uniswap Liquidity Providing work?

Read this guide.

Is Uniswap safe?

Very! It is a technology built on a smart contract with no central authority. Here is a massive security audit performed by ConsenSys.

When do I get rewarded?

Rewards are credited on your whitelisted address every 30 days.

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

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