2nd BETA/ETH Uniswap V3 Staking Incentives Program
As the first incubated project of Alpha Launchpad, Beta Finance is excited to welcome the Alpha Wolves to the Beta community! Alpha Wolves who have staked ALPHA will be eligible to claim BETA rewards on November 23 at 2 PM UTC. As a way to welcome these new BETA hodlers, we are excited to announce a 2nd BETA/ETH Uniswap V3 Staking Incentive program!
- 🥩Stake BETA/ETH (1% Fee) LP tokens on Uniswap V3 and get rewarded with BETA!
- ⏳The program runs from November 23, 2021, 2 PM UTC to January 7, 2022, 2 PM UTC
- 🧨1,700,000 BETA tokens will be distributed as incentives
How can users participate?
- Provide liquidity for the BETA/ETH (1% Fee) pool on Uniswap V3
- Stake the Uniswap V3 BETA/ETH LP tokens on the Beta Finance DApp
- Start earning rewards!
We’ll break down how users can participate below 👇 for both new users from Alpha and existing liquidity providers!
New Users: A Step-By-Step Guide
When you receive your BETA tokens from Alpha Tokenomics on Nov 23, 2 PM UTC, you now have an opportunity to earn high yield with your BETA by becoming a liquidity provider on Uniswap V3!
- Add liquidity to the Uniswap V3 BETA/ETH 1% Fee Pool here
2. Go to the “Provide Liquidity” page on the Beta Finance DApp here. Your LP tokens should be shown.
3. Click “Deposit to Stake” to go to the DApp’s staking page.
4. Click “Deposit to Stake ⛽”.
5. Click “Stake to Incentive Program” for both incentive programs to earn simultaneous rewards.
6. You’re now earning rewards for providing liquidity for BETA/ETH on Uniswap V3!
Existing Liquidity Providers: Step-by-Step guide
For existing liquidity providers who are earning already by providing liquidity and staking LP token for the first, ongoing incentive program that is ending on November 28, you will be able to use the same LP tokens to earn rewards from the second incentive program starting November 23 as well!
- Go to the “Provide Liquidity” page on the Beta Finance DApp here.
2. For LP Tokens staked in the first incentive program already, click “Unstake to Claim”, to be brought to the staking page.
3. Click “Stake to Incentive Program” for Incentive Program #2.
4. You’re now earning rewards for both Uniswap V3 Staking Incentive programs simultaneously with the same LP token!
Why Uniswap V3 Staking Incentives?
Beta Finance uses the Uniswap V3 Staker contracts that were implemented by Uniswap Labs, highlighting our commitment to using secure and safe code for our users. By using Uniswap V3 Staking incentives for our liquidity providers, we give our LPs several advantages:
- Simplicity — LPs can participate in multiple liquidity mining programs simultaneously on a single pair
- Capital Efficiency — Uniswap V3 is more capital efficient by letting users provide greater liquidity with less capital, aka. concentrated liquidity
- Fairer distribution — LPs receive rewards pro rata according to their liquidity contribution
Users are also able to choose their risk profile and maximize rewards with Uniswap V3:
- Concentrating liquidity for higher APR, but higher risk of impermanent loss and no rewards if price moves out of range
- Provide for a wider price range that is less capital efficient but guarantees APR and less risk of impermanent loss
Additionally, there are two important technical limitations to note for the Uniswap V3 Staker contract (Github).
- The first is that LP stakers will need to redeem the BETA staking rewards prior to when incentives end, as a decay rate is applied to anyone who unstakes after incentives end. If you unstake after the incentives end, you will receive less rewards.
- The algorithm for the Uniswap V3 Staker contract uses the total active liquidity, which might be higher than the staked liquidity.
Please see this blog post from Paradigm for more details and reward calculations.
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Beta Finance is looking to expand our team and is actively hiring. If you are passionate about DeFi and excited to build the next generation of infrastructure for DeFi, we’d love the chance to learn more about you! Please see our job opportunities here.
